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.
-
Jul- 2020 -2 JulyClothing & Shoes
Arcadia to cut 500 head office jobs
Arcadia has revealed it is set to cut around 500 head office roles due to the impact of the coronavirus pandemic. The group reportedly informed staff in an email on Wednesday around a fifth of its 2,500 head office staff would be affected by the restructuring. Reports suggest that the…
Read More » -
1 JulyCoronavirus
Harrods to cut 700 jobs
Luxury department store Harrods is set to cut around 700 jobs as it attempts to weather the storm caused by the coronavirus pandemic. According to The Guardian, Harrods has told its staff that one in seven of its employees would be affected by jobs cut. The paper revealed that in…
Read More » -
1 JulyNews
B&M reports ‘strong’ performance as revenue rises over 25%
Budget retailer B&M has reported a “strong” start to the financial year as it saw a 27.7% increase in group revenues to over £1.1bn during the period from 29 March 2020 to 27 June 2020. B&M said the strong start to the new financial year can be attributed to its…
Read More » -
1 JulyNews
Sainsbury’s sales boosted by online growth
Sainsbury’s has welcomed a “particularly strong” online performance in its first quarter of trading, as online sales more than doubled, rising 87% year-on-year. From the start of the crisis, online orders rose from 370,000 to over 650,000 per week, and nearly 50% of new online groceries customers were reported as…
Read More » -
Jun- 2020 -30 JuneClothing & Shoes
TM Lewin collapses into administration
TM Lewin has collapsed into administration following news that the retailer was eyeing up a pre-pack administration deal. According to the Mail Online, the group cited the ongoing Covid-19 pandemic and the temporary closure of its stores in March as the main reasons behind the collapse. The move could result…
Read More » -
30 JuneEconomy
Revised ONS data reveals greater GDP drop in Q1 2020
The UK’s gross domestic product (GDP) in volume terms fell by 2.2% in Q1 2020, which has been revised downwards by 0.2 percentage points from the Office for National Statisitic’s (ONS) first quarterly estimate. The ONS said it is the largest fall in UK GDP since Q3 1979, when it…
Read More » -
29 JuneCoronavirus
H&M half-year sales slump amid Covid-19 pandemic
Fashion retailer H&M has reported a 23% decrease in net sales to SEK 83,612bn (£7.2bn) for the half-year period ended 31 May 2020. The group said it was “significantly negatively affected” by the Covid-19 situation, with pre-tax losses amounting to SEK 3,063bn (£265m) during the H1 period. H&Ms net sales…
Read More » -
26 JuneTips
The New Normal in Retail: The State of Shopping After Lockdown
The retail sector in the country gears up for reopening as COVID-19 lockdown restrictions are starting to get lifted. However, although many stores and shopping centres are preparing to reopen to the public, they are required to ensure a healthy and safe shopping environment and provide their customers with a…
Read More » -
26 JuneNews
Tesco sales soar as online business booms
Tesco saw sales surge in the first quarter of trading, with like-for-like sales up 8.2% despite the pandemic and nationwide lockdown. In the quarter ended 30 May, total sales were up by 9.2%, while online sales soared by 48.5% as more shoppers shifted online. The group doubled its online capacity…
Read More » -
25 JuneClothing & Shoes
N Brown profits slump amid year of transition
N Brown has announced that its profits before tax plunged 28.8% to £59.5m in the year ended 29 February 2020. This was largely driven by lower gross profit and “lower than expected” IFRS9 provision benefit, according to the group. In the same period, group revenue was down by 6.1% to…
Read More »
