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- 2023 -13 OctoberDIY
Ikea sees sales jump 6% to €47.6bn
Ikea has posted sales of €47.6bn (£41.1bn), up 6.6% compared with FY22, for the year ended 31 August 2023 despite facing what it called the “continued challenge of lower sales quantities”. Alongside this, the company’s UK sales rose 11.9% to £2.46bn, with the company stating that number was boosted by…
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12 OctoberNews
Marks Electrical revenues up 24.8% to £53.9m
Marks Electrical has reported a 24.8% increase in revenues to £53.9m during the first half of the year. The group saw robust performance across product categories with particularly high growth in televisions (+71%), washer-dryers (+74%) and American fridge-freezers (+36%). It also reported rapid growth in its premium next-day service offerings…
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11 OctoberNews
Asda invests £9m to cut price of over 200 products
Asda has today announced further price cuts on 232 branded and own-label products as part of its continued support for families affected by the cost of living crisis. The supermarket is investing £9m to lower prices by an average of 14% on many of the most popular products that customers…
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11 OctoberFeatures
How much is the ‘tourist tax’ harming retailers
The Centre for Economics and Business Research has calculated that the “tourist tax” is costing the UK £10.7bn in lost GDP and deterring two million tourists from visiting the country per year. The report from the Centre for Economics and Business Research (CEBR) claims that the additional revenue generated by…
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11 OctoberDIY
Travis Perkins cuts guidance amid slowdown in trading
Travis Perkins has lowered its full-year guidance after facing challenging market conditions and a “pronounced slowdown” in new build housing and domestic RMI activity in Q3. In light of this, full-year adjusted operating profit is now expected to be in the range of £175m to £195m. It comes as group…
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10 OctoberNews
Today’s news in brief-10/10/23
Grocery price inflation has fallen for the seventh consecutive month, reaching 11% for the four weeks ending on October 1, 2023. This is the lowest rate since July 2022, based on data from Kantar. During this period, take-home grocery sales increased by 9.1% compared to the previous year, likely influenced…
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10 OctoberNews
UK retail sales growth slows to 2.7% in September
UK total retail sales growth slowed to 2.7% in September, compared to 2.2% in September 2022, according to the BRC. Food sales increased 7.4% over the three months to September, a figure below the 12-month average growth of 8.4%. Non-food sales decreased 1.2% over the three-months to September, making them…
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10 OctoberSupermarkets
Grocery price inflation falls for seventh consecutive month
Grocery price inflation has fallen for the seventh month in a row to 11% for the four weeks to 1 October 2023, the lowest rate since July 2022, according to new data from Kantar. Over the period, take-home grocery sales rose by 9.1% compared with last year, as people enjoyed…
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10 OctoberHigh Street
River Island profits plummet 90% despite rise in turnover
River Island operating profits dropped by 90% year-on-year to £7.4m, despite turnover rising 11.6% year-on-year to £825.8m for the 53 weeks ended 31 December 2022. The retailer attributed a combination of costs to clear excess stock and cost of goods inflation on the gross profit fall of 69% year-on-year to…
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9 OctoberFeatures
Examining Dame Sharon White’s term as John Lewis chair
Current chair of the John Lewis Partnership Dame Sharon White has announced that she will be stepping down at the end of her term in February 2025, bringing to an end an eventful six-year term. While the six-year stint will make her the shortest serving chair in its history,in her…
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