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 -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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2 JuneCoronavirus
Card Factory profits slide in full-year results
Card Factory has revealed that its underlying profit before tax fell 11.8% to £67.2m for the year ended 31 January 2020. In the same period, like-for-like sales were down 0.5%, reflecting “weak” consumer confidence and a decline in high street footfall in the second half of the year. Nonetheless, the…
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1 JuneHigh Street
Ted Baker raises £95m rescue fund amid full-year losses
Embattled fashion retailer Ted Baker has announced its intent to raise approximately £95m in gross proceeds to support it through the Covid-19 crisis. It comes after the retailer’s profits before tax slumped to £79.9m for the year ended 25 January, down from the profits of £30.7m it made in 2018.…
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1 JuneCoronavirus
Topps Tiles announces £18.1m sale of HQ and warehouse
Topps Tile has agreed a sale and leaseback of its head office and central warehouse building to UK Warehouse Properties for £18.1m amid the Covid-19 pandemic. The retailer revealed the proceeds from the sale of the properties situated in Leicester and will “further strengthen” the group’s financial position as it…
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May- 2020 -29 MayCoronavirus
B&M sales surge amid lockdown
B&M has revealed it enjoyed a “strong” end to its fourth quarter trading, with like-for-like revenues up 6.6% in the quarter ended 28 March. The value retailer said that this result was driven by an “exceptionally” strong March performance in its grocery sector. The group also reported a “strong” revenue…
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29 MayCoronavirus
Eve Sleep reports revenues ‘in line’ with expectations
Eve Sleep has reported its group revenues have been “in line with expectations” for the four months ended 30 April, despite the Covid-19 pandemic. In the period to 30 April, the retailer reported net cash of £7.5m compared with £8m in its previous update (31 December 2019). Eve Sleep said…
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28 MayComment
The time for retail to be re-imagined
2020 has seen retailers experience some of their most challenging times, an unprecedented fall or rise in demand during a global pandemic never before seen on this scale. As retailers grappled with their immediate response to Covid-19, it’s undoubtedly a once in a generation test of business continuity. As retailers…
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28 MayProperty
British Land sees over £1bn wiped off its property value
British land has seen over £1bn wiped off the value of its portfolio which it has attributed to a shift in online shopping that has been accelerated by the coronavirus pandemic. The value of its portfolio, which includes prime central London properties, fell by over 10% from £12.3bn to £11.2bn…
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