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 -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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27 MayComment
Collaborating with landlords in a post-lockdown world
Earlier this month the government published its roadmap to ending the lockdown. It’s clear from the document that retail’s exit from lockdown will be slow and taken in phases. Even when retailers are allowed to reopen bricks and mortar stores, they will have to contend with a dip in economic…
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27 MayCoronavirus
Frasers Group CFO blames reopening delay on ‘Cummings fiasco’
Chris Wooton, the chief financial officer of the Frasers Group, has blamed the new opening date for non-essential retail as a result of the “Dominic Cummings Fiasco” which has made the government “hesitant”. Speaking to ITV News last night (26 May) Wooton made the claim that the current controversy surrounding…
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27 MayPeople Moves
Hammerson CEO David Atkins to step down
Shopping centre owner Hammerson has announced that its CEO, David Atkins, has decided to step down from his role. Atkins will remain in position until spring 2021 at the latest, while the board searches for his successor. Atkins joined the company in 1998 and was appointed as CEO in 2009.…
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