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.
-
Sep- 2020 -21 SeptemberClothing & Shoes
Superdry swings to £42m loss in full-year results
Superdry announced it has swung to a pre-tax loss of £41.8m in the full-year ended 25 April, 2020, with underlying profit before tax down by 210% against the prior year. In addition, total revenue fell by 19.2% to £704.4m in the period, reflecting a “planned move away” from persistent discounting,…
Read More » -
18 SeptemberShopping Centres
Westfield owner announces £8.1bn ‘reset’ plan
Westfield owner Unibail-Rodamco Westfield (URW) has announced an €9bn (£8.1bn) ‘reset’ plan which will see it attempt to raise £3.2bn in capital and make a number of European disposals. Along with capital raising URW said it will be limiting cash dividends through scrip and/or a lower payout ratio, resulting in…
Read More » -
18 SeptemberCoronavirus
Mayor of London urges government to extend business rates holiday
The mayor of London, Sadiq Khan, and London Councils have joined together to urge the Government to extend the business rates holiday and help protect thousands of jobs in London and across the country. Businesses in the retail, hospitality, leisure and childcare sectors are currently benefiting from 100% relief from…
Read More » -
17 SeptemberGovernment
Government extends commercial eviction ban until end of year
The government has decided to extend its commercial property eviction ban until the end of 2020. Businesses have been shielded from eviction over the last six months through the lease forfeiture and debt enforcement moratoria, which was originally set to end on 1 October. Retail and hospitality trade associations, including…
Read More » -
16 SeptemberClothing & Shoes
H&M to return to profitability in Q3
H&M has announced it expects to return to profitability after experiencing a “better-than-expected” recovery during the third quarter of the year. For the 13-week period ending 31 August the Swedish clothing retailer said it expects before-tax profit of approximately SEK2b (£176m). The group said the recovery was the result of…
Read More » -
16 SeptemberCoronavirus
Covid forcing 4 in 10 SMEs to put sale plans on hold
SMEs across the UK have had to “tear up” business succession plans due to Covid-19 with four in 10 placing their sale plans on hold, according to research from Nucleus Commercial Finance. Prior to the pandemic, Nucleus’ research showed that over a third (35%) of SMEs had hopes of selling…
Read More » -
16 SeptemberComment
What to know: High street tenancies
As the Scottish Government considers extending the Coronavirus (Scotland) Act anti-irritancy provisions, which effectively prevent landlords from terminating commercial leases, speculation is increasing that temporary restrictions in England on landlords taking action against tenants in rent arrears may also be extended. What are those provisions and what do they mean…
Read More » -
16 SeptemberCoronavirus
Keir Starmer backs Usdaw’s call for government support
Retail trade union Usdaw has welcomed Keir Starmer’s backing for targeted government support to help save jobs and businesses in the retail sector. It comes as the Labour leader spoke to the annual Trades Union Congress, where he paid tribute to retail workers and “lamented that they remain overworked, underpaid…
Read More » -
15 SeptemberHigh Street
Creditors approve New Look CVA
New Look has announced that a CVA proposal launched last month has been approved by the majority of its unsecured creditors in a vote that was held today (15 September). Following the vote, the retailer will have a three-year rent holiday across 68 of its sites, as well as rent…
Read More » -
15 SeptemberSupermarkets
UK supermarket sales begin to stabilise
After a period of “accelerated growth”, UK supermarket sales have begun to stabilise, but Brits now shop for groceries online more frequently, according to the latest data from Nielsen. FMCG sales growth at supermarkets has continued to plateau to +5.3% over the last four weeks ending 5 September. However, the…
Read More »
