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 -11 JuneCoronavirus
B&M hails year of ‘solid growth’ despite pandemic
B&M has revealed that group revenue increased by 16.5% to £3,813.4m in the full-year ended 28 March, despite the effects of the ongoing pandemic. In the same period, its UK business delivered “strong trading”, with revenue up by 12.6% in the period. This included a like-for-like growth of 3.3% for…
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10 JuneClothing & Shoes
Quiz places loss-making stores into administration
Quiz has revealed it is placing the division that runs some of its loss-making stores into administration. Quiz said that in order to “protect the future” of the company it has decided to appoint joint administrators from KPMG to the group’s 82 standalone stores in the United Kingdom and the…
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10 JuneHigh Street
Signet to close 80 UK stores permanently
Signet Jewelers has announced that it will not reopen 80 of its UK stores, in an effort to emerge “stronger and more efficient” following the Covid-19 crisis. As part of its decision to accelerate its ‘Path to Brilliance’ programme Signet, which has 3,200 stores worldwide, has revealed initially 150 of…
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10 JuneEconomy
UK GDP expected to decline 7.2% in 2020 amid ongoing pandemic
The continuing impact of the Covid-19 virus is expected to see the UK economy contract by 7.2% in 2020, with the economy unlikely to be able to fully restart until a vaccine or effective treatments for the virus are available. This is according to KPMG UK’s latest quarterly Economic Outlook,…
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10 JuneCoronavirus
70% of shoppers ‘not comfortable’ returning to shops
Consumers remain “deeply cautious” about returning to shops, the latest EY Future Consumer Index has revealed ahead of retailers opening next week (15 June). According to the survey of 1,017 consumers, 80% said they would be “uncomfortable” trying on clothes in a store, while only 25% are “currently comfortable” visiting…
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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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