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- 2022 -29 JuneSupermarkets
Poundstretcher to keep prices low despite FY22 profit warning
Discount chain Poundstretcher has warned that sales are set to drop to £277m in the year to March 2022, attributing this performance to fewer stores, while pre-tax profits are set to halve, falling to £40m. It comes as recent accounts filed at Companies House showed that pre-tax profit hit £88m…
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29 JuneHigh Street
H&M Group profits surge amid high street resurgence
H&M Group has revealed its gross profits increased by 52.2% to £4.36bn in the six months to 31 May. Profits after tax increased by 33% to £390m in the second quarter, on the back of a 17% rise in sales to £4.47bn, excluding Russia, Belarus and Ukraine sales. Net sales…
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28 JuneSupermarkets
Jubilee helps boost June grocery sales
The Queen’s Platinum Jubilee celebrations helped boost total till grocery sales at UK supermarkets for the four weeks ending 18 June 2022 with sales up 1.5%, according to new data released today by NielsenIQ. However, it revealed despite this uplift, volume sales are declining by 5.5%, as shoppers seek to…
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27 JuneGovernment
Asda joins retailers in rejecting online sales tax
Asda has reportedly told the government that introducing an online sales tax (OST) will harm retailers and shoppers that are already affected with rising inflation, according to The Daily Express. The supermarket chain was one of a number of retail groups to meet with Lucy Frazer, the financial secretary to…
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24 JuneEconomy
Inflation drives disposable income to ‘lowest ever level’
Household discretionary income has fallen -17.2% in May to £41.94 a week (equivalent to £167.76 per month), marking another “record” low and the seventh consecutive month where discretionary income for the average UK household has dropped. According to Asda’s Income Tracker, 20% of households now have ‘negative discretionary income’, meaning…
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24 JuneEconomy
Retail sales fall as consumers cut household spending
Retail sales volumes fell by 0.5% in May 2022 according to the latest figures from the Office for National Statistics (ONS), as consumers started to cut back on household spendign amid the cost of living crisis. According to the ONS, customers have reportedly begun switching away from purchasing household goods…
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24 JuneEconomy
UK consumer confidence sinks to new record low in June
UK consumer confidence has fallen to the lowest level since records began during the month of June, according to the latest figures from GfK. GfK’s long-running Consumer Confidence Index decreased one point to -41, a new record with four measures down in comparison to the May 20 announcement, with one…
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22 JuneEconomy
Inflation hits 40-year high in May
Inflation reached a 40-year high in May 2022 as the Consumer Price Index hit 9.1%, up from the 9% reported in April 2022. This was largely driven by food and non-alcoholic beverages, transport and housing, water, electricity, gas and other fuels. Food price inflation was driven largely by staples with…
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20 JuneEconomy
Boots takeover in doubt amid financing struggles
There are reportedly growing concerns that the proposed takeover of Boots could collapse as the ongoing cost-of-living impacts prospective buyers and lenders. According to The Sunday Times, the news comes as New York-based Apollo and Mukesh Ambani reportedly teamed up with a bid of £5.5bn earlier this month – which…
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17 JuneNews
Tesco sales fall amid changing customer behaviour
Tesco has revealed its UK sales dropped 1.5% for the 13 weeks ended 28 May 2022 (Q1) following changing customer behaviour due to the inflationary environment, although Tesco is still maintaining its profit guidance for the year. Overall, group retail sales rose 2% year-on-year to £13.57bn, with Tesco’s cash-and-carry business,…
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