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 -5 FebruaryCoronavirus
Bank of England holds rates, predicts strong vaccine rebound
The Bank of England (BoE) has predicted an economic rebound in the spring led by a successful vaccine rollout, after revealing it will be holding interest rates at 0.1%. The news comes as the BoE predicts that GDP is expected to fall by around 4% in the first quarter of…
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5 FebruaryM&A
French Connection enters takeover talks
Fashion retailer French Connection has revealed it is in takeover talks with two possible suitors. In a letter from the board published on Friday 5 February, FC stated that it had been approached by Spotlight Brands and Gordon Brothers International LLC as well as Go Global Retail and HMJ International…
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5 FebruaryClothing & Shoes
Ralph Lauren sees Q3 revenues drop 18%
Ralph Lauren has announced that in its third quarter ended 26 December 2020, revenues decreased by 18% to $1.4bn (£1.02bn) attributed to the impact of Covid-19 and government restrictions on trade. Europe revenue in the third quarter decreased 28% to $316m (£230m) on a reported basis and decreased 32% in…
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4 FebruaryClothing & Shoes
Jigsaw sales down £31m amid pandemic
Jigsaw, a fashion clothing retailer, has reported a fall in sales of £31m for 2020 as a direct result of the Covid-19 pandemic. In reports filed by parent company, Robinson Webster, to Companies House, the group revealed that 60% of its revenue had been generated through online channels. While Jigsaw…
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3 FebruaryOnline & Digital
Jeff Bezos to step down as Amazon CEO
Amazon has announced that founder Jeff Bezos will step down from his role as CEO in Q3, and instead transition to the role of executive chair. Bezos will be succeeded by Amazon Web Services CEO Andy Jassy who has been with the company since 1997. The news follows Amazon’s latest…
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3 FebruaryEconomy
13,000 Scottish retail jobs were lost before Covid-19, SRC reveals
13,000 Scottish retail jobs were lost between 2016-2018, a new paper by the Scottish Retail Consortium (SRC) reveals. The report entitled ‘Road to Retail Recovery’ also found that £3.48bn in annual turnover was lost from the industry between 2014-18; figures which are likely to “severely worsen” when the full account…
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1 FebruaryAnalysis
Adapting and diversifying as a result of Covid-19
It’s no secret that 2020 was a tough year for many businesses. The closure of non-essential stores meant that the majority of retailers have had to find new ways to continue operation. Whilst the situation has and continues to be difficult for many businesses, we’ve also seen many become more…
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1 FebruaryCoronavirus
New lockdowns edge consumer confidence to near-record low
The final quarter of 2020 saw consumer confidence fall by 1%, to a near-record low -17%, according to the latest Deloitte Consumer Tracker. It found with the exception of personal finances, all other measures of confidence were below year-on-year comparisons, with ‘health and wellbeing’, and ‘children’s education and welfare’ categories…
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1 FebruaryCoronavirus Featured Content
BRC chief calls for rates extension as vacancies rise by 13%
Helen Dickinson, chief executive of the British Retail Consortium (BRC) has urged the government to extend business rates relief beyond April as the number of retail stores lying vacant rose to 13.7% in Q4 2020. The plea follows figures published by the consortium which show that all retail locations saw…
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Jan- 2021 -29 JanuaryHigh Street
Card Factory to receive one month covenant breaches waiver
Card Factory has been issued a one month extension to covenant breaches by banks until 28 February 2021. Earlier this month, the firm warned it was going to breach its banking covenants by the end of January, although it had access to £200m of debt facilities. The group stated it…
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