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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Dec- 2020 -7 DecemberDIY
Kingfisher set to return business rates relief funds
Kingfisher has announced it intends on returning the full amount of business rates relief received to the UK and ROI as a result of the Covid-19 crisis. Kingfisher said its “total annual business rates bill” eligible for this relief is approximately £130m, of which £110m falls in FY 20/21 and…
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7 DecemberClothing & Shoes
Ted Baker losses widen as sales fall 42%
Ted Baker has announced that its losses have continued to widen, with underlying loss-before-tax amounting to around £39m, primarily driven by lower revenue levels, and partially offset by our cost actions. In the 28 week period ended 8 August, group revenue was also down by 45.9% against the prior year. …
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3 DecemberHigh Street
Post-lockdown footfall increases by 64.5%
Springboard has revealed that footfall across all UK retail destinations was 64.5% higher yesterday ( Wednesday 2 December) than the Wednesday prior, as the nationwide lockdown came to an end. The increase in activity was seen to have occurred most in high streets and shopping centres increasing 80.4% and 133.2%…
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3 DecemberNews
Sainsbury’s forgoes £410m rates relief
Sainsbury’s has joined rivals Tesco and Morrisons in a pledge to repay the government’s business rates relief, bringing the total number of returned costs to over £1bn. The supermarket has revealed plans to forgo approximately £410m of its business rates relief. In a statement, Sainsbury’s said it has been considering the…
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3 DecemberClothing & Shoes
Arcadia brings forward pension fund payment
The owner of Arcadia, Lady Christina Green, is set to bring forward a payment of £50m that will go into the collapsed group’s pension scheme. The £50m installment was originally scheduled to be paid in September of next year, but has been brought forward in light of the retailer’s collapse…
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2 DecemberHealth & Beauty
Beauty Bay considers a stock market listing
Online cosmetics store, Beauty Bay is reportedly considering a stock market listing, following the surge in valuation fellow digital retailer The Hut Group (THG) experienced earlier this year. According to Sky News, the company which was created by Arron and David Gabbie, is in talks with investment bank GCA Altium…
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2 DecemberNews
Tesco to repay £585m rates relief
Tesco has announced that it will repay £585m in business rates relief to the UK government and devolved administrations. The supermarket said it was “immensely grateful” for the financial and policy support provided by the government, adding that the rates relief was a “game-changer” for all retailers. It noted that…
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1 DecemberOnline & Digital
Sosandar sales soar in H1
Online retailer Sosandar has announced that revenue soared by 52% to £4.28m in the half-year ended 30 September 2020, up from £2.81m the prior year. Gross profit was £2.24m, marking a 48% increase against 2019. In addition, the group welcomed a “significant improvement” in its EBITDA loss, which narrowed to…
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1 DecemberClothing & Shoes
Debenhams to be wound down, 12,000 jobs at risk
Embattled department store chain Debenhams is to be wound down, placing 12,000 jobs at risk, after talks with JD Sports over a potential rescue deal failed. The business will continue to trade through its 124 UK stores, as well as online. If it does not receive any alternative offers from…
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1 DecemberCoronavirus
Footfall surges for second week thanks to Black Friday
Footfall on Black Friday increased by 8.7%, helping to mark the first time since late August that the figures have increased in two consecutive weeks, according to the latest data from Springboard. The data shows that footfall in the UK rose by 4.8% across all retail destinations last week, which…
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