Covid-19
This coverage examines the effects of Covid-19 on the UK retail industry, focusing on operational disruption, financial pressures, consumer behaviour shifts, and recovery strategies. Reporting includes lockdown impacts, safety measures, supply chain challenges, online growth, and leadership decisions that shaped responses to the crisis. Designed for executives and managers, it offers lessons and insights for navigating future disruptions.
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Feb- 2021 -23 FebruaryClothing & Shoes
Moncler EBIT falls 25% in FY20
Moncler has announced its EBIT fell by 25% to €368.8m (£318m) for the financial year ended 31 December 2020, down from €491.8m (£424m) the prior year. The retailer also saw an 11% decline for its consolidated revenues to €1.4bn (£1.2bn), down from €1.62bn (£1.39bn) the previous year. Net income dropped…
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23 FebruaryClothing & Shoes
Clarks CEO steps down amid C-suite shake-up
Giorgio Presca has reportedly stepped down from his role as CEO of Clarks, according to Drapers. Presca, along with the shoe retailer’s chief commercial officer, Massimo Barzaghi and chief people officer, Difna Blamey, are said to have exited the business last week. Victor Herrero, the retailer’s non-executive director, will reportedly…
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22 FebruaryCoronavirus
PM outlines ‘roadmap’ out of lockdown
Prime minister Boris Johnson has set out his four-step “roadmap” to guide the nation out of lockdown “cautiously but irreversibly”, calling the plan a “one-way road to freedom”. Step one will begin from 8 March, when all schools will be allowed to open with outdoor after-school sports and activities allowed.…
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22 FebruaryAnalysis
The restructuring options for retailers before it’s too late for rescue
Despite a glimmer of hope that Government may extend more Covid-19 support measures, retailers shouldn’t leave their future to chance if they want to boost their prospects of surviving the pandemic. Up until recent days, it looked like retailers were facing a so-called perfect storm. A moratorium protecting retail tenants…
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22 FebruaryAdvice
Retail needs to adapt to the new necessities
“Who are these people buying heels?!” one of my team members asked in wonder today, when discussing how spending habits have changed so dramatically in the last 12 months. She couldn’t imagine why anyone would be buying anything other than more sweatpants and slippers. I didn’t tell her about the…
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22 FebruaryOnline & Digital
More than half of retailers are ‘resistant’ to digital progress
More than half of retail industry C-suite executives, directors and senior managers (51%) are “resistant” to digital progress, according to a new survey by Sigma Dynamics. The firm’s ‘Connected Enterprise’ report, commissioned in partnership with applied futurist Tom Cheesewright, revealed that retailers are skeptical about the benefits of implementing new…
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22 FebruarySupermarkets
Poundland owner to open 400 new stores despite dent to profits
Poundland owner the Pepco Group has announced plans to open 400 stores this year despite posting a drop in profits from €331 (£285m) to €229m (£198.2m) due to the impact of Covid-19. The group said the results for the 52-week period ending 30 September 2020 is primarily related to temporary…
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22 FebruaryProperty
BPF names NewRiver CEO as chair of retail board
The British Property Federation (BPF) has appointed Allan Lockhart, CEO at real estate investment trust NewRiver REIT, as chair of its new retail board. The board was created in January to ensure central and regional governments could understand the views of the retail property sector, in turn driving the agenda…
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19 FebruaryGovernment
Sunak to delay review of business rates until autumn
Chancellor Rishi Sunak is set to reveal that he will delay a final report on the review of business rates until later this year. According to The Financial Times, the delay of the report, which was set to consider the introduction of an online sales tax, comes as the chancellor…
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18 FebruaryOnline & Digital
Moonpig expects FY revenues to double amid Valentine’s boost
Moonpig has announced it expects revenues for the financial year ending 30 April 2021 to approximately double to £173m. The online retailer said it saw a “significant increase” in demand during the first half of the year, which has continued through Q3 with it recording its “strongest ever” trading week…
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