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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Aug- 2023 -1 AugustEconomy
Falling inflation may be halted as Russia pulls out of grain deal, BRC warns
The British Retail Consortium (BRC) has warned that falling inflation is likely to slow after Russia withdrew from the Black Sea Grain Initiative despite seeing annual shop price inflation drop to 7.6% in July. This figure is down from 8.4% in June and represents the lowest inflation figure in 2023…
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1 AugustDIY
Travis Perkins profits plummet 31% in H1
Travis Perkins has seen its operating profit plummet 31% to £112m in the first half of the year, reflecting weak domestic and new build housing markets over the period. Amid challenging market conditions, revenues also dipped by 2.5% to £2.47bn. In light of a lower trading profit, the phasing of…
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Jul- 2023 -25 JulySupermarkets
Poundland brings back £1 price point amid lessening inflation
Poundland has today (25 July) reduced the price of big brand “family favourite” products, many of which went back to a £1 price point, following last week’s inflation data showing price rises are moderating from 8.7% in May to 7.9%. The retailer’s price reduction, which has been dubbed ‘Operation Sell…
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24 JulyNews
Leading retail associations ask Ofgem to challenge hidden energy costs
Leading associations from sectors including retail have signed an open letter organised by leading not-for-profit energy consultancy Box Power CIC challenging the energy regulator Ofgem to take ‘immediate’ action on hidden charges by energy brokers. Eight leading groups – UKHospitality, Care England, the British Retail Consortium, the Federation of Independent…
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21 JulyNews
Retail competition not responsible for high food inflation, CMA finds
A new report from the Competition and Markets Authority (CMA) has found that high food price inflation has not been driven by retail competition. Over the past two months, the CMA has assessed how retail competition is working in the UK grocery sector, particularly between supermarkets such as Asda, Morrisons,…
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21 JulyEconomy
Consumer confidence falls in July
Consumer confidence index dropped six points in July to -30 as “reality bites” resilient consumers amid rising inflation and interest rates, according to GfK’s long-running survey. The survey revealed that all five measures were down in comparison to last month’s announcement. The index measuring changes in personal finances during the…
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20 JulyNews
Dunelm ups FY guidance after strong final quarter
Dunelm has seen full-year revenues rise by 6% to £1.64bn, after a period of “robust” growth in its final quarter, where sales hit £381m despite higher cost prices and rising inflation. Following a “continued robust sales performance, strong commercial disciplines and tight operational grip on costs”, the furniture retailer has…
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19 JulyEconomy
Inflation falls faster than expected in June
The rate of price rises has fallen to 7.9% in June, down from 8.7% in May, according to the latest Consumer Prices Index (CPI) from the Office for National Statistics (ONS). On a monthly basis, the CPI rose by 0.1% in June 2023, compared with a rise of 0.8% in…
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19 JulyClothing & Shoes
Hotter Shoes rescued through Woolovers deal
The future of footwear retailer Hotter Shoes has been secured following a sale of the business to Woolovers Group. Will Wright and Rick Harrison from Interpath Advisory were appointed joint administrators of Beaconsfield Footwear Limited, trading as ‘Hotter Shoes’, on 18 July 2023. Headquartered in Skelmersdale, the company is a…
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18 JulyNews
Tesco explores freehold acquisitions to combat inflation
Tesco is reportedly looking to acquire the freeholds of more stores in order to minimise its lease liabilities and reduce its exposure to inflation, The Times has reported. According to its annual accounts, the supermarket chain now owns the freehold of 60% of its 4860-stores, an increase from 40% in…
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