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.
-
Nov- 2020 -12 NovemberClothing & Shoes
LK Bennett set to launch CVA
LK Bennett has launched a CVA proposal, which will result in five store closures and a small number of job losses. The womenswear retailer will also move its remaining shops to turnover-based rents in order to “mitigate the ongoing financial impact of the Covid-19 pandemic”, Drapers reported. Currently, the business…
Read More » -
11 NovemberDIY
Homebase hunts for new owners to fund next growth stage
DIY retailer Homebase has reportedly started a search for a new owner as it looks for funding for its next stage of growth. According to Retail Week, Homebase chief executive Damian McGloughlin said the company is hopeful of a deal being completed by April of next year. McGloughlin reportedly added…
Read More » -
10 NovemberComment
The retail supply chain trends unlocked in lockdown
Following conversations and first-hand experiences working with high street and ecommerce retailers, we commissioned research of 200 senior retail professionals to further determine how COVID-19 disruption has impacted stock management and retail supply chains. The research revealed that coronavirus has resulted in four out of five (82%) retailers changing their…
Read More » -
10 NovemberShopping Centres
Landsec posts £835m loss
Real estate firm Landsec, which owns the Bluewater shopping centre and a number of other retail destinations, has reported a loss before tax of £835m for the six month period ending 30 September. It comes after the firm said the impact on its results from unpaid rent and service charges…
Read More » -
9 NovemberCoronavirus
Pfizer reveals Covid-19 vaccine candidate is 90% effective
A successful Covid-19 vaccine is a step closer after Pfizer/Biontech revealed its vaccine candidate is 90% effective, according to its first interim analysis. The findings, which are well above the 50% effectiveness for a vaccine to be approved, comes following a clinical trial which involved over 43,000 people. Some 42%…
Read More » -
9 NovemberDepartment Stores
Harrods forced to reorganise £200m credit
Harrods has been forced to reorganise its £200m credit line due to the second national lockdown causing the closure of its flagship Knightsbridge store. According to The Sunday Times, the department store negotiated a revolving credit facility with the Qatar National Bank in August, to avoid breaching covenants it made…
Read More » -
6 NovemberClothing & Shoes
Superdry H1 revenues fall 23.3%
Superdry has announced that total revenue fell by 23.3% in the half-year period ended 24 October 2020, reflecting the challenging trading environment attributed to the continued disruption from Covid-19. Like-for-like store trading in the last six weeks of H1 was down 32.4%, with UK trade impacted by continued social distancing…
Read More » -
5 NovemberClothing & Shoes
Clarks agrees £100m rescue deal with LionRock Capital
Clarks has been rescued in a £100m deal with LionRock Capital – the Hong-Kong-based private equity firm. Announcing its new partnership, LionRock Capital said it will acquire a majority stake in Clarks, with the Clark family to remain invested in the business. The £100m investment will enable Clarks to “position…
Read More » -
5 NovemberCoronavirus
Bank of England unveils £150bn covid support package
The Bank of England (BoE) has unveiled it will give the UK economy a further £150bn in crisis support and keep interest rates at a record low, due to the rapid rise in Covid-19 restrictions across the country. At the Banks latest Monetary Policy Committee (MPC), members stated that the…
Read More » -
5 NovemberClothing & Shoes
Joules trading exceeds expectations
Joules’ recent sales are exceeding expectations, according to the group’s trading update in the financial year to 31 May 2021. The clothing retailer is reporting “strong” year-on-year e-commerce growth of 35%, which accounts for 70% of the group’s overall sales for the period. Stores performed “ahead of the board’s expectations”…
Read More »
