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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May- 2020 -20 MayNews
Marks and Spencer profits tumble in full-year results
Marks and Spencer has announced that profit before tax tumbled 20.2% to £67.2m in the full-year ended 28 March 2020. It comes as an uplift in food sales failed to offset poor sales in its clothing division. The retailer’s full-year grocery sales improved 1.9%, with an estimated 0.3% lift attributable…
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20 MayCoronavirus
Deliveroo expands partnership with Majestic Wines to 80 locations
Deliveroo and Majestic Wines has announced the expansion of its delivery partnership to cover 80 UK sites across the UK, alongside an expanded range on offer. Majestic Wines has unveiled a specially curated range of more than 50 wines, champagnes and spirits, available to order on the Deliveroo app. The…
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19 MayHigh Street
Topps Tiles reports losses of £4m in half-year results
Topps Tiles has reported pre-tax losses of £4m for the half-year period ended 28 March, down from the profits of £5.2m it made during the same period in 2019. First half like-for-like sales declined by 6.1%. Excluding week 26, when all stores were closed due to Covid-19, like-for-like sales decreased…
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18 MayCoronavirus
Nike warns on subdued Q4 results amid Covid-19 lockdown
Sport fashion retailer Nike has warned this its fourth quarter sales will be impacted by the Covid-19 lockdown. Since mid-March, the vast majority of Nike-owned and wholesale partner stores outside Greater China and South Korea have been completely closed in order to protect the health and safety of staff and…
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18 MayClothing & Shoes
VF Corp sees FY revenues jump 2% but warns Q1 earnings may halve
VF Corporation, the owner of brands such as Vans, The North Face and Timberland, has reported a 2% increase in full-year revenues but has warned that it expects current-quarter revenue to more than halve due to the coronavirus outbreak. In a trading update for the full-year ended March 28, 2020,…
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18 MayCoronavirus
Central England Co-op reports rise in ‘violent’ threats to staff during lockdown
Central England Co-op has reported a rise in “violent” offences being carried out against its staff amid the Covid-19 pandemic. The company reported problems which include verbal abuse and threats, alongside customers threatening to cough and spit on employees. Figures for the past four weeks have revealed an increase in…
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15 MayTips
Transparency in fashion – What it is and whether it’ll survive the Covid-19 pandemic
With the Coronavirus (COVID-19) pandemic keeping shoppers at home, clothing sales are plummeting faster than ever before. How the fashion industry redefines itself after nation-wide lockdowns will determine how it eventually recovers. What is the Transparency Trend? Transparency in the retail industry is promoted by activists and points out the…
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15 MayClothing & Shoes
Boohoo secures £200m through share placing
Boohoo confirmed it has successfully raised almost £200m in funding following the placing of 58 million shares. The online retailer raised £197.7m through the successful placing of 58,140,591 shares at 340p per share, in a placing led by investment banking boutique Zeus Capital. Following the fundraise, Boohoo will have an…
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14 MayOnline & Digital
Online retail sales soar to 10-year high amid Covid-19 crisis
Online sales growth surged to a 10-year high in April, up 23.8% year-on-year, amid the ongoing Covid-19 pandemic. That’s according to the latest IMRG Capgemini Online Retail Index, which tracks the online sales performance of over 200 retailers. According to the report, the spike in sales was “overwhelmingly” driven by…
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14 MayLuxury Goods
Watches of Switzerland reports 5.9% increase in revenues in Q1 results
Watches of Switzerland has reported a 5.9% increase in group revenues to £819.3m in the year to 26 April, ahead of recently revised guidance. In the 46 weeks to 15 March 2020, group revenue increased by 15.8% across both the UK, which was up by 9.4% and the US, which…
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