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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Mar- 2020 -24 MarchShopping Centres
Westfield Stratford announces temporary closure amid coronavirus outbreak
Shopping centre Westfield Stratford City has announced it is “substantially closed” amid the outbreak of the Covid-19 outbreak. The shopping centre announced its closure on social media with a statement that it was closed with exceptions from grocery stores and pharmacies to “service our communities’ needs.” The statement read: “We…
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23 MarchHigh Street
H.Samuel announces temporary store closures amid Covid-19 virus outbreak
High street jewellery store H. Samuel has announced the temporary closure of all its stores amid the recent outbreak of the Covid-19 virus. The retailer announced all store closures will take effect from today (Monday 23 March) but its website will be “open as usual.” In a statement, the retailer…
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23 MarchHigh Street
Laura Ashley slashes 721 roles as 70 stores shutter
Embattled retailer Laura Ashley has shuttered 70 of its stores leaving almost 721 people out of work, administrator PWC has said. The ‘Big Four’ accountancy firm said it will be working with those employees to help them understand “what this means for their roles” and provide all “necessary support” including…
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23 MarchComment
Coronavirus: Lessons learnt from a multinational company operating in China
As the coronavirus crisis deepens, here are some insights from the CEO of supply chain planning software vendor, FuturMaster, on the impact of the virus outbreak and how companies can anticipate and react to such crisis situations based on the lessons learnt from various customers – including one of the…
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23 MarchClothing & Shoes
N Brown reveals measures to mitigate ‘sudden reduction’ in demand
N Brown Group has revealed a series of measures it has undertaken to help mitigate the “significant and sudden reduction” in demand it has experienced amid the coronavirus outbreak. In a trading update this morning (23 March), the group said that trading for the first two weeks of the financial…
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23 MarchHigh Street
Beaverbrooks to close all 69 stores amid Covid-19 outbreak
UK jeweller Beaverbrooks has revealed plans to shutter all 69 of its stores by 5pm today (23 March) amid the Covid-19 outbreak. Managing director Anna Blackburn said this decision will “greatly affect” its hundreds of store colleagues, and added that supporting them is its “number one focus right now”. She…
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23 MarchCoronavirus
PM bans ‘non-essential retail’, instructs public to stay at home
The UK public are only allowed to venture out of their homes for essential supplies and one exercise outing per day, or face fines, under new measures introduced this evening by the prime minister. In a recorded address filmed in No 10 Downing Street, Boris Johnson said the police will…
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23 MarchEconomy
FCA asks companies to delay preliminary financial accounts
The Financial Conduct Authority (FCA) has requested companies which were due to issue its preliminary trading updates in the next few days to delay publication, amid the ongoing disruptions caused by the outbreak of the coronavirus. The FCA urged all listed companies to observe a moratorium on the publication of…
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20 MarchHigh Street
Covid-19: Government to pay 80% of salary to staff unable to work
Chancellor Sunak Rishi has said the government will pay 80% of wages to employees who aren’t able to work due to the coronavirus, up to £2,500 a month, according to the BBC. The “unprecedented measure” comes as the government has unveiled more plans to protect jobs and businesses amid the…
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20 MarchHigh Street
Frasers Group issues profit warning and drops FY20 guidance amid Covid-19
Mike Ashley’s Frasers Group has issued a profit warning after revealing its board expects Covid-19 to cause a “significant disruption” to its business. The retailer said the impact, including customer footfall, will likely mean the group “will not achieve” its previous guidance of 5-15% EBITDA growth for the year ending…
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