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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Mar- 2022 -8 MarchEconomy
Consumer spending surges 13.7% in February
Consumer card spending grew year-on-year by 13.7% in February, the highest growth since November 2021, as the economy reopened following the lifting of Plan B restrictions and work-from-home guidance. Data from Barclaycard revealed that spending on essential items rose 12% in February, driven by an 11.2% rise in fuel prices…
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2 MarchEconomy
UK retail prices rise to highest rate since 2011
Retail price annual inflation accelerated to 1.8% in February, up from 1.5% in January, marking the highest rate of inflation since November 2011, according to the British Retail Consortium (BRC) and NielsenIQ. The BRC said that food inflation remained the “key driver” behind the price rises. Food inflation remained unchanged…
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1 MarchDIY
Travis Perkins profits spike 175%
Travis Perkins plc has revealed its adjusted operating profits surged 175.8% for the year ending 31 December 2021 (FY21), rising year-on-year from £128m to £353m, and up 19% compared to pre-Covid levels. The group said the performance reflects the work undertaken to enhance its customer proposition through investment in network…
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Feb- 2022 -28 FebruaryClothing & Shoes
Primark H1 sales surge 60%
Associated British Foods (ABF) said it expects sales and adjusted operating profit to be ahead of the pre-Covid levels that were achieved in H1 of FY20 for the 24 weeks to 5 March 2022, driven by an expected 60% increase in sales at Primark. Like-for-like sales improved compared to Q4…
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22 FebruaryNews
Asda strike looms after thousands turn down pay deal
An Asda strike has “moved closer” after thousands of distribution staff turned down a pay deal, according to the GMB. The supermarket, which has been negotiating with the GMB, the recognised trade union for ALS, made the following offer to colleagues last month. It should be noted this offer was…
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18 FebruaryNews
Retail sales up 1.9% in January 2022
Retail sales volumes rose by 1.9% in January 2022 following a fall of 4.0% in December 2021, according to the latest figures from the Office for National Statistics. It also revealed sales volumes were 3.6% above their pre-coronavirus (Covid-19) February 2020 levels. Non-food stores sales rose by 3.4% as home…
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16 FebruaryEconomy
Inflation hits 30-year high amid rising cost of living
Inflation rose by 5.5% in the 12 months to January 2022, up from 5.4% in December 2021, marking the highest annual inflation rate since May 1992. According to the Office for National Statistics (ONS), the largest upward contributions to the change in the inflation rate between December 2021 and January…
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14 FebruaryNews
Employers set to award record pay rises in 2022
Employers have reported that the median basic pay increase in their organisation (excluding bonuses) in the 12 months to December 2022 will be 3%, the highest figure recorded in the last 10 years of the Chartered Institute of Personnel and Development’s (CIPD) reporting. The CIPD’s latest quarterly Labour Market Outlook,…
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11 FebruaryEconomy
UK GDP rises 7.5% in 2021, largest increase since WW2
The UK economy increased by a “better-than-expected” 7.5% in 2021 to record the “fastest” incline since the Second World War, following the 9.4% contraction in 2020. Data released by the Office for National Statistics (ONS), shows that the UK is on track to be the “fastest growing economy” in the…
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8 FebruaryOnline & Digital
Ocado FY21 losses widen amid labour shortages and robotics roll-out
The Ocado Group has reported a loss before tax of £176.9m for the 52 weeks ending 28 November 2021 (FY21), down from £52.3m in FY20, following the group’s investment in robotics and AI technology and the opening of five global fulfilment centres. Ocado said it was hit by labour market…
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