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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Sep- 2024 -20 SeptemberNews
UK consumer confidence falls sharply to -20 in September
UK consumer confidence has dropped sharply to -20 in September, according to GfK’s long-running index. The survey revealed that all measures were down in comparison with last month’s announcement. The index measuring changes in personal finances during the last year was down two points at -9. Meanwhile, the survey revealed…
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19 SeptemberEconomy
BoE holds interest rates at 5%
The Bank of England (BoE) has decided to hold interest rates at 5% this month, having lowered them for the first time in four years in August. The bank voted by a majority of 8-1 to keep the rate the same in a bid to help “sustain growth and employment”.…
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18 SeptemberNews
Today’s news in brief-18/9/24
UK inflation held steady at 2.2% in August, unchanged from July and slightly above the Bank of England’s 2% target. The stability came despite falling food and energy prices, offset by a 1.2% rise in transport costs, driven notably by a 22.2% increase in air fares. Clothing and retail prices…
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18 SeptemberEconomy
Inflation holds steady at 2.2% in August
The rate of inflation remained steady at 2.2% in August, unchanged since July, yet is still above the Bank of England’s target of 2%.Although food and energy prices continued to fall over the month, this was in part offset by transport, where prices rose by 1.2% in the month. This…
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10 SeptemberNews
Today’s news in brief-10/9/24
Burberry has faced a significant downturn, with its market value plummeting to £2bn, its lowest since 2009. Barclays downgraded Burberry, citing poor performance relative to other luxury retailers and doubts about its ability to maintain premium status due to pricing and strategic issues. CEO Jonathan Akeroyd was replaced by Joshua…
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10 SeptemberDIY
Wickes HY profit falls to £23.4m
Wickes has revealed that its adjusted profits fell to £23.4m, down from £31.1m, for the 26 weeks ended 29 June 2024. Alongside this, the DIY retailer saw its total revenues fall 3.4% year-on-year from £827.7m down to £799.9m. However, its operational costs were flat year-on-year following planned management action taken…
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Aug- 2024 -30 AugustNews
UK retail sales dipped 0.7% in August, BDO reveals
Total retail sales have increased by just 0.7% compared to August last year, according to this month’s High Street Sales Tracker from BDO. Despite reports signalling that retail prices had fallen for the first time in three years during August, sales growth figures are still running below the rate of…
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30 AugustSupermarkets
Tesco faces strike ballot as warehouse workers reject pay offer
Usdaw has launched a consultation ballot, asking Tesco workers at eight sites if they are ready to take a dispute over pay to industrial action. According to the trade union, members at all eight sites “overwhelmingly rejected” Tesco’s pay offer of between 2% plus £500 and 4.4%, depending on contract.…
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27 AugustNews
Today’s news in brief-27/8/24
UK shop prices have fallen for the first time since October 2021, with the BRC-NielsenIQ index reporting deflation of 0.3% in August, down from July’s 0.2% inflation. Non-food items saw a deeper deflation of -1.5%, driven by heavy discounts on summer stock, while food inflation slowed to 2%, with fresh…
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27 AugustNews
UK shop prices fall for first time in three years, BRC finds
UK shop prices fell for the first time in three years since October 2021, the British Retail Consortium revealed. The BRC-NielsenIQ shop price index showed that deflation was at 0.3% in August, down from inflation of 0.2% in the previous month. Non-food remained in deflation at -1.5% in August, further…
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