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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Jun- 2020 -9 JuneClothing & Shoes
Sosandar sees revenues spike 62% as it announces John Lewis and Next deals
Online womenswear retailer Sosandar has revealed it has seen revenues spike 62% year-on-year over the past two months since lockdown began. In a Covid-19 trading update Sosandar said it has “responded well to a period of significant disruption and uncertainty”. Adding that as an online-only business, it has been able…
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9 JuneCoronavirus
Retailers face second worst month on record
May was another “testing” month for retailers, with total sales down by 5.9%, according to the latest BRC-KPMG retail sales monitor. The decline was less drastic when compared to April’s fall of 19.1%, but still marked the second worst decline recorded since the monitor began in 1995. Throughout the month,…
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8 JuneLuxury Goods
Mulberry to cut global workforce by 25%
Luxury retailer Mulberry has announced the launch of a consultation process on proposals to reduce its workforce by approximately 25% across its global business. The fashion giant said that the move was proposed following efforts to manage its cost base and operations in light of the ongoing “uncertainty” presented by…
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8 JuneCoronavirus
Usdaw opposes government plans to open supermarkets full time on Sundays
Shopworkers union Usdaw has condemned government plans to let supermarkets open for 24 hours a day on Sundays as “a slap in the face” for key workers. The news comes as the government is considering trading laws limiting supermarket Sunday opening times to six hours, in an attempt to boost…
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5 JuneCoronavirus
Victoria Secret’s UK arm falls into administration placing 800 jobs at risk
Victoria’s Secret has announced it has drafted in Deloitte advisers as its UK division has fallen into administration, putting over 800 jobs at risk. The lingerie brand confirmed it has appointed advisers to assess the impact of Covid-19 on the business as it will conduct a “light touch” administration whilst…
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5 JuneCoronavirus
Consumer confidence slips further amid UK lockdown
GfK’s long-running Consumer Confidence Index has decreased by two points over the past two weeks. In the market research firm’s third Covid-19 flash report, it found that the measure for the general economic situation of the country dropped five points to -60 between 20 and 26 May. Additionally, the outlook…
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5 JuneTips
Government-backed loans to UK businesses reveals horrible truth
Due to the rapid spread of Coronavirus Disease (COVID-19) and the toll that it took, the world has been pushed towards fear—halting life as we know it entirely. The blow on the economy was felt all across the world, with governments all over rushing to stem the pandemic to urge…
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4 JuneHigh Street
M&S lowers share award payout for top execs amid Covid-19 pandemic
Marks and Spencer has lowered the share payout for it’s top two executives, amid the ongoing Covid-19 pandemic. This largely affects chief executive Steve Rowe and finance director Eoin Tonge, whose awards have now been lowered from 250% to an intended 175% of their salary. It comes after the retailer’s…
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4 JuneCoronavirus
Co-op expands robot service in Milton Keynes
The Co-operative has expanded its same-day autonomous robot deliveries in the UK across Milton Keynes and surrounding towns and villages amid the Covid-19 pandemic. The convenience retailer became the first to trial same-day autonomous robot deliveries in the UK when it teamed-up with Starship Technologies in April 2018 to offer…
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3 JuneSport & Leisure
Angling Direct reports £1.5m net loss in FY results
Fishing tackle and equipment retailer Angling Direct has reported net losses of £1.5m in its full-year results, attributing the decline to “adverse” post-Christmas trading due to “exceptional flooding”. For the year ended 31 January 2020, the retailer also reported EBITDA losses (pre IFRS 16) of £500,000 compared with £300,000 in…
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