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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Aug- 2020 -12 AugustEconomy
UK in recession following 20% GDP slump
The UK economy has entered into a technical recession following a “record” fall in gross domestic product (GDP) during the second quarter of the year. According to the Office for National Statistics, GDP slumped by 20.4% between April and June 2020, compared with the 2.2% drop seen during Q1 2020…
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10 AugustHigh Street
Baird Group launches CVA proposal
Baird Group has launched a Company Voluntary Arrangement (CVA) proposal in order to safeguard the “long-term future” of the group. The group, whose portfolio includes Ben Sherman and Suit Direct, worked with KPMG’s Restructuring practice to review “all options” available to address the challenges presented by the pandemic. As a…
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10 AugustHigh Street
WH Smith seeks rent cuts
WH Smith is reportedly seeking rent cuts from its landlords as it looks to cut costs. According to The Sunday Times, the retailer has drafted in advisers Gerald Eve to negotiate with landlords across its portfolio of over 1,000 UK stores located on the high street and at travel hubs. …
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10 AugustClothing & Shoes
Superdry secures funding as sales fall
Superdry has secured a new £70m lending facility in a bid to equip it with “flexibility and liquidity” following the coronavirus crisis. It comes as the disruption from the pandemic has continued to “materially impact” its year-on-year performance, despite the fact that trading was ahead of initial expectations in its…
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7 AugustCoronavirus
Naked Wine hails ‘strong’ sales performance
Naked Wines has announced it is continuing to “trade strongly” despite the crisis, with total July sales expected to be up by 73% against the prior year. This would bring its sales growth in the first four months of the financial year to 76%, overall. According to the retailer, this…
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6 AugustCoronavirus
McColls reports H1 sales rise as Covid drives demand
Convenience chain retailer McColls has reported an 8.3% increase in sales for the first half of the financial year after the company benefited from “stronger demand” for food and alcohol amid the Covid-19 pandemic. During the six months to 24 May, McColls reported a 1% decrease in total revenues to…
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6 AugustShopping Centres
Hammerson seeks £825m to ride pandemic
Shopping centre owner Hammerson has announced it plans to raise £825m through fundraising and disposals as it looks to survive the impact of the coronavirus pandemic. The announcement comes as Hammerson reported that net rental income dropped by 44% to £87.3m during the first half of the year. For the…
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6 AugustClothing & Shoes
Joules swings to £2m loss in full-year results
Joules has announced that it swung to a pre-tax loss of £2m in its full-year of trading, down from the £12.9m profit it reported the year prior. Group revenue also fell by 12.5% to £190.8m in the period, down from the £218m reported the year before. The retailer noted that…
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5 AugustCoronavirus
River Island considering CVA as Covid-19 hits sales
Fashion retailer River Island is reportedly considering a CVA proposal as it attempts to weather the coronavirus pandemic. According to Retail Week, River Island is considering launching a CVA proposal or another form of administration in order to reduce rents or close some of its stores that have seen lower…
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5 AugustTechnology
Amazon Go to launch in UK
Amazon has reportedly struck a deal to open more than 10 Amazon Go stores across the UK, with a view to opening a further 20 sites down the line. According to The Sunday Times, the first of these stores is expected to open in London before the end of the…
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