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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Oct- 2024 -2 OctoberSupermarkets
Booths narrows pre-tax losses to £1.6m
Supermarket chain Booths has narrowed its losses from £4.0m in 2023 to £1.6m and has reported a 6.7% rise in sales to £318.7m for the year ending 30 March 2024. The group attributed the performance to increased footfall and basket spend, partly due to inflation and the benefit of an…
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2 OctoberEconomy
Shop prices move further into deflation
Shop Price deflation was at 0.6% in September, down from deflation of 0.3% in the previous month and below the three-month average rate of -0.3%, according to the latest figures from the BRC-NielsenIQ shop price index. This means shop price annual growth was at its lowest rate since August 2021.…
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1 OctoberNews
Today’s news in brief-1/10/24
Mulberry has turned down an £83m acquisition bid from Frasers, arguing it undervalues the company’s potential. Frasers offered 130 pence per share for a 36.8% stake, prompting Mulberry’s board, backed by majority shareholder Challice, to reject the offer and focus on CEO Andrea Baldo’s turnaround strategy. Authentic Brands Group has…
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1 OctoberHigh Street
Greggs sales rise 10.6% in Q3
Greggs has reported “good” like-for-like sales growth over the Q3 ended 28 September, as total sales rose 10.6% and like-for-like sales in company-managed shops rose by 5% against the same period last year. According to the high street bakery chain, September proved to be the strongest month of the quarter,…
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Sep- 2024 -27 SeptemberSupermarkets
Morrisons Q3 sales jump 2.1% to £3.9bn
Morrisons has announced that its total sales excluding fuel rose 2.1% to £3.9bn for the three months ended 28 July 2024. Alongside this, the company’s like-for-like sales excluding fuel and VAT rose 2.9% primarily driven by volume. Morrisons also added a further 50 products to its Aldi and Lidl Price…
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24 SeptemberNews
Today’s news in brief-24/9/24
Harrods has launched an internal investigation to determine if any current staff were involved in allegations of rape and sexual assault made against its former owner, Mohamed Al Fayed. The inquiry follows a BBC documentary and podcast titled Predator at Harrods, which detailed claims made by multiple women who worked…
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24 SeptemberHigh Street
Card Factory HY profits fall 43% amid rising wages
Card Factory has reported that adjusted profits before tax fell by 43% to £14.5m in the six-month period to 31 July, due to “substantial” increases in National Living Wage as well as freight inflation and the phasing of strategic investments. This comes despite group revenues rising by 4.9% to £238m…
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23 SeptemberNews
Today’s news in brief-23/9/24
Frasers Group is facing audit issues with two brands, I Saw It First and Choice, revealing significant payroll data discrepancies. Auditors struggled to verify £7m in payments for I Saw It First due to lost data during system transitions. Similarly, Hart Shaw encountered missing crucial information for Choice. These revelations…
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23 SeptemberClothing & Shoes
Oliver Bonas profits fall to £6.8m amid high inflation
Oliver Bonas profits dropped to £6.8m for the year ended 31 December 2023 as the company struggled with growing interest rates and high inflation. Although profit before tax fell 5%, EBITDA rose by 11%. Turnover for the company was also up 18% to £136m. In addition, on the digital side,…
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20 September
Today’s news in brief-20/9/24
In August, UK retail sales saw a 1% increase, marking a continued recovery with a 2.5% year-on-year growth, the strongest since early 2022. While overall volumes remain slightly below pre-pandemic levels, supermarkets and clothing stores benefited from warmer weather and seasonal sales. Online spending remained steady, showing a 4.3% increase…
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