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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Jun- 2023 -21 JuneNews
Halfords FY profit falls 38% despite rise in sales
Halford’s Group has reported that full-year profits have fallen by 38.3% to £51.5m in FY23, despite reporting a revenue growth of 15.3% to £1.5bn. Despite the profit hit, the group reported a like-for-like growth of 2.4% compared to FY22, with all segments positive despite a backdrop of significant declines in…
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21 JuneEconomy
Inflation fails to fall in May
Inflation in the UK remained unchanged at 8.7% in the year to May, dashing hopes that prices would continue to fall. According to the latest figures from the Office for National Statistics (ONS) rising prices for air travel, recreational and cultural goods and services, and second-hand cars resulted in the…
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20 JuneSupermarkets
Grocery price inflation falls to lowest level this year
Like-for-like grocery price inflation has dropped to its lowest level since 2022 and now sits at 16.5% for the four weeks to 11 June 2023, according to the latest data from Kantar. British take-home grocery sales rose by 10.8% over the month in comparison with the same period last year.…
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20 JuneOnline & Digital
Gear4music falls to £0.4m loss in FY23
Gear4music has reported a loss after tax of £0.4m for the full year ended 31 March 2023, despite its revenue increasing by 3% to £152m. The online musical instruments retailer also reported EBITDA of £7.4m which is 34% below FY22 and 5% below FY20. According to the CEO of Gear4music,…
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20 JuneHigh Street
Next ups FY guidance as sales improve due to good weather
Next is upgrading its full price sales guidance for the full year by £137m and its full year profit guidance by £40m to £835m, as trading in the last seven weeks has proved “materially better” than the guidance it issued in May. This comes as full price sales in the…
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16 JuneSupermarkets
Tesco sales up 9% amid signs of easing inflation
Tesco has announced that its sales excluding fuel in the UK and Ireland have risen 9% to £13.8bn for the 13 weeks ended 27 May 2023. Overall, the company posted sales of £14.8bn across its stores in the UK, Ireland and Central Europe including Booker, an increase of 8.2%. This…
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14 JuneComment
E-commerce businesses can fight inflation – here’s how
Consumers continue tightening their belts as the cost of living crisis bites. And the outlook isn’t ideal; UK inflation remains stubbornly high, especially compared to the Eurozone and the US. The cost-of-living crisis, combined with the rising cost of raw materials, packaging, transport and labour, is putting insurmountable pressure on…
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12 JuneHigh Street
Jollyes FY sales hit £115m
Jollyes has posted sales of £115m for the year ended 29 May 2023, up 33% from £85m for the previous period. This is the first time that the company has seen sales pass the £100m barrier. Furthermore, its like-for-like sales grew by 17% over the full year, over double the…
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12 JuneNews
UK economy set to grow amid increased investment, says CBI
The economy looks to have fared better than expected in the first half of 2023, and is set to steer clear of a recession, according to the CBI’s latest Economic Forecast. The CBI has forecasted 0.4% growth in GDP over 2023, picking up to 1.8% in 2024, upgraded from -0.4%…
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12 JuneSupermarkets
Waitrose reveals further price cuts amid £100m investment
Waitrose has cut the prices of over 200 everyday supermarket items as part of the retailer’s £100m investment to lower customer’s bills. The price cuts, which can be found in every aisle and include cupboard staples from butter and tomato ketchup to Fairtrade caster sugar, are now at least 10%…
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