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- 2022 -20 OctoberOnline & Digital
Naked Wines axes roles in plan to ‘pivot to profit’
Naked Wines has made around 6% of its workforce redundant as part of a raft of measures to help the business “pivot to profit” and reset its cost base after weaker demand hit its profitability. It comes after investment into inventory spending and adding to its cost base did not…
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20 OctoberHigh Street
Wilko calls in advisers amid cost-cutting measures
Wilko has reportedly drafted in Teneo as advisors as the retailer seeks to cut costs across the business amid the cost-of-living crisis, according to Retail Week. Wilko is reportedly mulling potential cost-cutting and restructuring options as it seeks to shore up its balance sheet. Rising inflation, shipment delays and store…
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19 OctoberEconomy
Rising food prices push inflation back to 10.1%
Inflation has returned to the 40-year high of 10.1% in September, up from 9.9% in August, with rising food prices as the main contributor, according to the latest figures from the Office for National Statistics (ONS). The increase to the annual inflation rate in September 2022 reflected, principally, rising food…
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19 OctoberClothing & Shoes
Asos profits plunge 105% as group outlines turnaround strategy
Asos has seen its profits plummet 105% to a loss of £9.8m in its latest full-year results, down from profits of £190.1m, as customers reigned in their spending amid the cost of living crisis. The group noted consumer behaviour underwent a “marked change” from April 2022 when consumers faced accelerating…
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13 OctoberPeople Moves
Boohoo CIO exits business after three years
Boohoo’s chief information officer (CIO), Jo Graham, has announced her departure from the business after three and a half years in the role. Yesterday (12 October) was her last day, and Graham said she is going to take time off before pursuing a new role. Previously, Graham was a technology…
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11 OctoberHigh Street
ScS sees revenues rise but warns of reduced consumer confidence
ScS has reported a record 8.6% revenue rise in its preliminary results for the 52-week period ended 30 July 2022, as it also warned that recent trading had been impacted by falling consumer confidence. ScS confirmed revenues hit £331.6m, up from £305.2m. Despite the revenue increase it added its pre-tax…
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11 OctoberEconomy
Unemployment at lowest level in 50 years as pay levels fall
The UK unemployment rate dropped to 75.5% for June to August 2022, down 0.3 percentage points from the previous quarter (March to May 2022), and this marks the lowest level of unemployment rates since December to February 1974. According to the Office for National Statistics (ONS), rising inflation has caused…
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11 OctoberEconomy
Retail sales rise 2.2% in September
The British Retail Consortium (BRC) Sales Monitor reports that, on a total basis, sales increased by 2.2% in September, against an increase of 0.6% in September 2021. According to the BRC, the UK retail sales also increased 1.8% on a like-for-like basis from September 2021, when they had reportedly decreased…
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7 OctoberClothing & Shoes
Superdry swings to profit but ‘cautious’ on near future
Superdry has returned to profitability as pre-tax profits surged to £21.9m in the 53 weeks ended 30 April 2022 (FY22), compared with a loss of £12.6m in FY21. However, the company said it remains “cautious” about the near future amid a “challenging” macroeconomic environment, high levels of inflation, and the…
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6 OctoberHigh Street
Footfall slows to +6.8% in September
UK footfall slowed for the third consecutive month and now sits just 6.8% compared with the same period in 202, as the rising cost of living cuts consumer visits according to the latest data from Springboard. Springboard revealed that superficially September’s results suggest that footfall has largely been unaffected by…
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