Inflation
This coverage analyses the impact of inflation on the UK retail industry, focusing on costs, pricing strategies, consumer spending, and operational challenges. Reporting highlights economic trends, retailer responses, supply chain pressures, and leadership decisions to manage margins and demand. Designed for executives and managers, it offers insights to navigate inflationary pressures while maintaining competitiveness.
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Nov- 2024 -14 NovemberDIY
CDS Superstores acquires 70 Homebase stores out of administration
The Range and Wilko owner CDS Superstores has acquired 70 Homebase UK stores after the DIY retailer collapsed into administration. Gavin Park, Gavin Maher and Adele Macleod of Teneo Financial Advisory Limited were appointed as joint administrators of HHGL Limited and Hampden Group Limited, which trade under the Homebase name.…
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12 NovemberSupermarkets
Supermarket sales hit 2024 high as shoppers ready for Christmas
Take-home sales at the grocers increased by 2.0% over the four weeks to 3 November 2024 to reach £11.6bn, making this the biggest sales month of the year so far, according to the latest data from Kantar. The take-home sales rise coincided with a jump in the number of shopping…
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11 NovemberSupermarkets
Tesco to face £1bn increase to NI bill following Labour’s Budget
Tesco is expecting to see an increase of £1bn in its national insurance bill over the next four years following Labour’s Autumn budget, according to the Times. The chancellor Rachel Reeves has increased Employers’ National Insurance contributions in a bid to help raise as much as £40bn in taxes, pledging…
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8 NovemberNews
Sainsbury’s CEO warns NI contributions will cause spike in prices
Sainsbury’s CEO Simon Roberts has warned that the rise in employer’s national insurance contributions announced in the Autumn Budget will cost the supermarket £140m, Sky News has reported. Roberts said that the rise of NI would cause inflation to be higher than originally predicted and that Sainsbury’s won’t have the…
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7 NovemberEconomy
Bank of England cuts interest rates to 4.75%
The Bank of England has cut interest rates for the second time this year, with rates now cut to 4.75%. The bank voted by a majority of 8–1 to reduce Bank Rate by 0.25 percentage points to 4.75%. One member preferred to maintain the previous rate of 5%. It had previously…
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5 NovemberEconomy
Retail sales see weak growth in October amid pre-budget uncertainty
Total retail sales in the UK nudged up by only 0.6% in October, compared with a growth of 2.6% in October 2023, as retail was hit by ongoing uncertainty surrounding the autumn budget, the BRC has reported. The BRC also attributed this slowdown to the fact that the October half-term…
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1 NovemberClothing & Shoes
Castore swings to pre-tax loss of £28.8m despite sales surge
British sportswear brand Castore has reported a pre-tax loss of £28.8m for the year ended 4 February 2024 after previously recording a profit of £14.7m the prior year. The group stated that this result has been impacted by non-recurring warehouse consolidation, ongoing investment in the cost base and a challenging…
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Oct- 2024 -31 OctoberNews-In-Brief
Today’s news in brief-31/10/24
The UK retail industry has raised concerns following Chancellor Rachel Reeves’ Autumn Budget, which aims to generate £40bn through measures like a rise in employers’ National Insurance to 15% and hikes in minimum wage rates. The British Retail Consortium (BRC) has warned that the new measures, which will add over…
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30 OctoberEconomy
Budget: Increases to employers’ NI and minimum wage
The chancellor Rachel Reeves has increased Employers’ National Insurance contributions in a bid to help raise as much as £40bn in taxes, pledging to also boost long-term growth and “mark an end to short term-ism” as part of Labour’s first budget since it came into power. Employers’ national insurance contributions…
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29 OctoberNews-In-Brief
Today’s news in brief-29/10/24
The British Retail Consortium (BRC) has urged the chancellor to prioritise keeping prices low as shop price deflation reached 0.8% in October, marking its lowest rate since August 2021. Food inflation also eased, with fresh food and ambient food prices falling. BRC’s CEO Helen Dickinson stressed that although this trend…
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