Guidance
This coverage focuses on trading guidance, financial outlooks, and performance updates issued by UK retail businesses. Retail Sector reports on company forecasts, profit warnings, earnings revisions, and strategic updates that shape investor sentiment and corporate planning across the retail industry. Coverage includes analysis of market reactions, executive commentary, and sector-wide trends influencing guidance from leading retailers. For retail professionals, this category provides critical insights into financial health, market expectations, and business confidence driving decision-making within the UK retail economy.
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Apr- 2020 -22 AprilOnline & Digital
Boohoo reports 54% rise in pre-tax profits in FY results
Online fashion retailer Boohoo has reported a 54% rise in pre-tax profit to £92.2m compared with £59.9m last year. In its full year results ended 29 February 2020, Boohoo reported a 44% increase in revenues to £1.2bn compared with £857m in the same period in 2019. Gross profit increased by…
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20 AprilCoronavirus
Coronavirus Job Retention Scheme portal goes live
The portal for the Coronavirus Job Retention Scheme is now live, with the government saying that businesses with validated claims will receive payments within at least six days. Under the scheme announced last month, employers can claim a grant covering 80% of the wages for a furloughed employee, subject to…
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16 AprilCoronavirus
Chancellor extends furlough scheme deadline
Chancellor Rishi Sunak has extended the deadline for the Coronavirus Job Retention Scheme after it was found that many people who had recently changed jobs were set to miss out. Under the scheme announced last month, employers can claim a grant covering 80% of the wages for a furloughed employee,…
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15 AprilCoronavirus
HMRC adds new guidance on Coronavirus Job Retention Scheme
HMRC has issued new guidance regarding the Coronavirus Job Retention scheme and clarifies eligibility for those returning from sick leave and TUPE staff. Issued at the end of last week the third update to the scheme has provided clarification on all aspects of sick leave including those returning from maternity…
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15 AprilCoronavirus
Quiz reopens online operations
British Fashion retailer Quiz has revealed it has reopened its online operations after it added “additional safety measures” to keep its employees safe. Quiz stores have been closed since the 22 March with its online operations also closing a couple of days later. However, it has now taken the decision…
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9 AprilCoronavirus
AAB calls on government to enhance support for businesses
Accountancy firm Anderson Anderson and Brown (AAB) has called on the UK Government to implement a series of “wide-reaching” measures aimed at helping businesses to survive the disruption caused by the Covid-19 pandemic. Lyn Calder, managing partner and also the firm’s head of deals for the Central Belt in Scotland,…
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8 AprilCoronavirus
Tesco: Sales rise 30%, but virus could cost nearly £1bn
Tesco has revealed that its sales rose 30% in the first few weeks of the coronavirus crisis, in light of increased stockpiling and panic buying across the country. The surge in sales has now stabilised, however, and the group has reported that normal sales volumes are now being experienced. In…
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7 AprilSupermarkets
Ocado unveils new measures as it apologises for inability to meet demand
Ocado has issued an apology to its customers for being unable to meet the current demand for its deliveries which it said is 10 times higher than usual. As a result it has also released a series of new measures including prioritising government shield list members and stopping orders from…
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7 AprilCoronavirus
Footfall nosedives by 81%
Footfall across bricks and mortar retail destinations declined by 75.1% in the week beginning 22 March, according to the latest data from retail intelligence experts Springboard. Their findings also found that footfall plummeted by 81.4% last week, suggesting the government-enforced lockdown is working. Whilst footfall continued to decline annually, the…
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3 AprilCoronavirus
Debenhams readying to appoint administrators amid Covid-19
Department store chain Debenhams is reportedly set to enter administration for the second time in a year in order to protect the business from creditors during the coronavirus outbreak. According to Sky News, the embattled retailer could file for administration as early as next week, with ‘Big Four’ accountancy firm…
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