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 -16 JuneEconomy
BoE raises interest rates to 1.25%
The Bank of England’s (BoE) Monetary Policy Committee has voted to raise interest from 1% to 1.25% – marking its fifth rise in a row as it bids to offset the impact of rising inflation. The Monetary Policy Committee voted by a majority of 6-3 to increase the rate to…
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16 JuneEconomy
Halfords lowers FY23 profit expectations despite ‘resilient’ performance
Halfords Group plc has announced it has downgraded its profit expectations for the year despite seeing its profit before tax increasing 49.8% to £96.6m. In its preliminary results for the 52 weeks to 1 April 2022, the retailer posted revenues of £1.36bn – up almost 20% compared with pre-pandemic levels.…
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13 JuneOnline & Digital
Online retail growth drops 8.7% in May
Online retail sales growth declined -8.7% year-on-year in May 2022, despite being measured against a negative performance in May 2021 (-6%), as trading conditions continue to be “very tough”. According to the latest IMRG Capgemini Online Retail Index, which tracks online sales for 200 retailers, May’s results also represented a…
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10 JuneEconomy
Inflation increases strain between supermarkets and suppliers
The increase in inflation and cost price has weakened the relationships between the UK’s supermarkets and their suppliers, according to the findings of the latest survey from the Groceries Code Adjudicator (GCA). Supermarkets are facing a series of arbitration hearings with the GCA, after adjudicator, Mark White, revealed the number…
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9 JuneDIY
DFS welcomes double digit growth in Q3
DFS has welcomed double digit growth in its order volume in its third quarter of trading, compared to the FY19 pre-pandemic period. The volume growth in the period ending 27 March 2022 was achieved despite the group offsetting “significant” cost inflation through mitigation and retail price increases. The retailer noted…
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9 JuneEconomy
Retail sales dip in May as consumers cut spending
Sales across retail decreased by 1.1% in May, against an increase of 28.4% in May 2021, as consumers continued to cut spending amid the cost of living crisis, according to the BRC. This is below the three-month average growth of 0.7% and the 12-month average growth of 4.1%. On a…
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6 JuneHigh Street
Lands End revenue dips 5% in Q1
Lands End has reported a net revenue decrease of 5.5% to $303.7m (£241.6m) in the first quarter of 2022, compared to $321.3m (£255.6m) in 2021. Global sales tumbled 15.7% in the first quarter, while International sales decreased 21.7% driven by “delayed receipts of key products due to global supply chain…
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5 JuneFeatures
Less hands make light work: easing impact financial stress on UK retailers
Almost every person in the UK has been affected by the various economic issues currently plaguing post-pandemic pockets. While discretionary spending is reigned in for the majority, many are forced to re-evaluate even essential purchases. When consumers face financial pressures, the effects soon filter through to afflict retailers. At the…
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May- 2022 -31 MaySupermarkets
Supermarkets warn of price surge if imperial measurements return
The British Retail Consortium, which represents supermarkets including Sainsbury’s, Asda and Morrisons, has warned the prime minister that returning to imperial measurements could worsen the cost-of-living crisis and further drive up inflation. The comment comes after the BEIS is to launch a 12-week consultation on Friday made up of business…
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30 MayOnline & Digital
Asos and Curry’s among retailers to warn Sunak against OST
A group of 11 retailers, including Asos, Currys, and Gymshark, have reportedly urged the government to abandon plans for an online sales tax warning that it would “hurt, not help the high street”. According to The Telegraph, in a joint-letter to the chancellor the retailers noted that sales tax would…
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