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- 2022 -18 JulyNews
Profit warnings surge 66% in H1 FY22
The number of profit warnings issued by UK-listed companies in the first six months of 2022 has increased 66% year-on-year, with a “record” number of companies citing rising costs as the reason behind their warning, according to EY-Parthenon’s latest Profit Warnings report. A “record” 58% of companies cited rising costs…
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18 JulyHigh Street
Next workers underpaid following payroll errors
Next workers have been underpaid for “months” after a series of payroll errors from the retailer, according to The Sunday Times. The problem reportedly arose after a misstep with the company’s new Oracle payroll system in February. There were also deductions of some staff pension contributions without investment into retirement…
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13 JulyEconomy
Household budgets continue to tighten amid rising inflation
Data from Barclaycard has revealed that spending on essential items increased 4.4%, which has been largely driven by a surge in fuel spend (up 24.8%) as petrol and diesel prices continued to climb. However, shopping at supermarkets and specialist food and drink stores saw year-on-year decreases of 0.8% and 1.1%…
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12 JulyEconomy
Matalan revenues up 29% in Q1
Matalan has revealed that its total revenue for the 13 weeks to FY23 currently sits at £286.5m, which shows a 29% year-on-year increase compared to last year’s £221.8m. The company’s EBITDA post adoption of IFRS16 also reached £44.4m so far this year, showing an increase of £2.6m compared to £41.8m …
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8 JulyNews
Cost of living crisis weighs on retail sales growth
High levels of inflation and the deepening cost of living crisis have prompted further slowing of retail sales growth, according to BDO’s High Street Sales Tracker (HSST). It found that total like-for-like (LFL) sales, combined in-store and online, increased by +8.4% in June compared to the equivalent month in 2021,…
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7 JulyElectrical
Currys warns of ‘uncertain’ outlook despite profit rise
Currys has warned that its outlook for consumer spending is “uncertain”, despite reporting that pre-tax profits jumped 19% year-on-year from £156m to £186m for the year ended 30 April 2022. The financial year saw group store sales increase 24%, with 61% growth in the UK and Ireland, which is “higher…
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7 JulySupermarkets
Brits urged to cut £15bn off their grocery shop
Brits could reportedly be spending a premium of £15.1bn a year for branded items in Big 4 supermarkets instead of Aldi’s exclusive own-label products, according to data from Kantar. When broken down, the £15.1bn a year works out to £45 a month, or £542 a year, that could be saved…
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6 JulySupermarkets
Mars Petcare latest to halt supplies to Tesco amid price dispute
Mars Petcare has halted supplies to Tesco as the supermarket faces its second dispute amid rising costs, as inflation continues to impact supplier and retailer relations. Mars Petcare, which produces brands such as Whiskas, Dreamies, Pedigree and Cesar, has paused supplies to Tesco until an agreement can be reached on…
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Jun- 2022 -30 JuneSupermarkets
Poundland to expands £1 range in response to inflation
Poundland has confirmed its intentions to reset 850-plus stores and expand the products it sells for £1 in response to rising inflation. According to new figures released last week, inflation has hit 9.1%, the highest rate in 40 years. As a result, Poundland said it would be “leaning more heavily…
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29 JuneEconomy
Shop price inflation hits highest level since 2008
Shop price annual inflation increased to 3.1% in June 2022, up from 2.8% in May, marking the highest rate of inflation since September 2008, according to the British Retail Consortium (BRC). Food inflation also rose to 5.6% in June, up from 4.3% in May. This marks the highest inflation rate…
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