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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Jul- 2024 -30 JulyNews
Today’s news in brief-30/7/24
Andrew Keith, CEO of Selfridges, has announced his departure to pursue new ventures, marking the end of his tenure characterised by navigating challenges including the pandemic and ownership changes. André Maeder will succeed him as CEO of Selfridges Group in the UK, focusing on innovation and customer experience amid potential…
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30 JulyEconomy
Shop price inflation remains unchanged in July
Shop Price annual inflation remained unchanged at 0.2% in July but economic uncertainty could lead to future rises, the British Retail Consortium (BRC) has warned. The BRC-NielsonIQ Shop Price found Non-Food items remained in deflation at -0.9% in July, up from -1.0% in the preceding month. This is in line…
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29 JulySupermarkets
CMA deems supermarket loyalty promotions not misleading shoppers
The Competition and Markets Authority (CMA) has officially cleared supermarkets of using misleading loyalty promotions, having failed to find any evidence to the contrary in the industry. It comes as the authority published its cost-of-living report last week, which recognised that “effective competition” between retailers was keeping prices as low…
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25 JulyDIY
Howdens maintains full-year outlook as H1 sales and profits rise
Howdens has welcomed good revenue growth in the first half of the year despite a “challenging” marketplace, as sales rose by 4.3% to £966.3m, with the group maintaining its full-year outlook. Profit before tax was in line with last year at £112.3m, up from £111.9m, following a £16m investment in the…
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24 JulySupermarkets
Hot weather and Euros help boost grocery sales
Total Till sales at UK supermarkets improved +3.6% in the last four weeks ending 13 July 2024, up from 1.1% in the previous month, as the arrival of hot summer weather and the Euros helped boost performance, according to new data released today by NIQ. Promotions also helped to drive…
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22 JulyClothing & Shoes
Cotton Traders sees sales and profits dip amid ‘challenging conditions’
British heritage fashion brand, Cotton Traders, has seen its FY23 operating profit fall 9.9% to £9.8m in what it called a “steady performance” in the face of inflation and the cost-of-living crisis. The brand also reported turnover of £109.4m (-1.7% vs. 2022) and an EBITDA of £11.57m (-7.9%vs.2022). Amongst other…
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18 JulyDepartment Stores
Dunelm FY profits ahead of expectations amid strong Q4
Dunelm has revealed it expects profits for the full year to be ahead of expectations after it saw a strong end to Q4. The homewares retailer has seen its total sales for the year grow 4% to £1.7bn driven by volume despite a “challenging consumer environment”. PBT is now expected…
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17 JulyEconomy
Inflation holds steady in June despite rise in hotel prices
Inflation remained steady at 2% in June despite a strong rise in hotel prices during the month, according to the latest figures from the Office for National Statistics (ONS). It comes as prices for restaurants and hotels rose by 0.9% between May and June this year, compared with a lower…
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16 JulyOnline & Digital
Ocado HY losses narrow to £154m
Ocado has revealed that its losses narrowed to £154m for the half year ended 2 June 2024, down from £290m in the same period last year. Overall, the company’s group revenue rose 12.6% to £1.5bn while its technology solutions arms saw an increase of 22%, its logistics arm saw a…
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12 JulySupermarkets
GCA warns Amazon it must comply with Groceries Supply Code of Practice
The Groceries Code Adjudicator (GCA) has told Amazon that it must take “swift and comprehensive” action to demonstrably comply with the Groceries Supply Code of Practice in its new 2024 annual survey. According to the GCA’s 2024 annual survey, while the number of suppliers experiencing a code issue fell from…
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