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 -17 MarchHigh Street
ScS delays full results amid Covid-19 developments
Furniture retailer ScS has announced that gross profit is expected to increase 0.3% to £71.7m during the first half of the year, but has delayed the release of its full results due to recent coronavirus measures introduced. In its upcoming interim results, it also expects gross sales to increase 0.5%…
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17 MarchHigh Street
Colliers calls for Rates Deferment Scheme introduction amid COVID-19
Business rates experts at Colliers International have called for the Government to introduce a three-month or even six-month business rates deferment scheme to help businesses impacted by the coronavirus. It follows last Wednesday’s (11 March) Budget announcement, which Colliers said was “largely applauded” for the support given to smaller retail,…
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17 MarchClothing & Shoes
H&M sales increase despite being ‘negatively impacted’ by Covid-19
Fashion retailer H&M has reported a rise in sales in its first-quarter results, despite being “negatively impacted” by the outbreak of Covid-19. For the period ended 1 December 2019, H&M reported an 8% increase in net sales to SEK 54,988m (£46,609m) compared with £51m in the year prior. H&M said…
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16 MarchAdvice
What will the spread of coronavirus mean for businesses?
The serious health concerns brought about by the coronavirus outbreak (officially Covid-19) have been well documented, as nations impose travel restrictions and enter quarantine to tackle the spread. The UK Government recently confirmed that sick employees will receive statutory sick pay from the first day off work, not the fourth,…
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16 MarchClothing & Shoes
Primark owner shares dive after it warns of coronavirus impact
Primark owner Associated British Foods (ABF Foods) has seen its shares dive in early trading after it announced that the closure of its European stores due to coronavirus could leave a hole of £190m in sales. Shares in the company dropped by 100% this morning (16 March) to £0.01p per…
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13 MarchOnline & Digital
Amazon tells employees to work from home
Amazon has told all of its employees to work from home for the rest of March amid the coronavirus outbreak. Speaking to CNBC, the retail giant said it is now encouraging all employees who can work from home to do so, in order to enforce social distancing and “lessen the…
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12 MarchClothing & Shoes
Adidas and Puma Chinese sales hit by coronavirus outbreak
Sportswear retailer Adidas has warned sales in its first quarter of its financial year would decrease as much as €1bn (£870) in Greater China, amid the recent impact of the coronavirus. Adidas reported sales would be down by about €100m (£88m) in Japan and South Korea, which will result in…
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12 MarchHigh Street
Covid-19 could knock £130m from sales, says WH Smith
WH Smith expects that full-year results will see an ‘adverse impact’ from the effects of coronavirus, with up to £130m being wiped from its revenue. In its latest update, the stationary group predicted an impact between £100m and £130m on group revenue, while underlying profit before tax can expect a…
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11 MarchBusiness Bites
ROUNDUP: Business rates holiday announced by chancellor Sunak
In his maiden budget, the new chancellor, Rishi Sunak, has announced a £30bn fiscal stimulus package to help combat the impact of coronavirus on the British economy including a one-year total suspension of business rates for small retail, leisure and hospitality businesses. Headline measures include: A £12bn plan to provide…
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11 MarchEconomy
Bank of England cuts interest rates to help combat coronavirus impact
The Bank of England has cut UK interest rates back down to the lowest level in history to help mitigate the impact of the coronavirus outbreak on the economy. The governor of the Bank of England, Mark Carney, announced the 50 basis point (0.5 percentage point) reduction, from 0.75% to…
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