Interest Rates
This coverage explores UK interest rate movements and their impact on the retail industry, focusing on monetary policy decisions, borrowing costs, consumer spending, and retailer financing strategies. Reporting highlights how rate changes affect sales dynamics, investment planning, and operational budgets — providing insight for executives, finance leads, and business strategists navigating economic volatility.
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Oct- 2023 -6 OctoberNews
UK footfall decreases 2.9% in September, BRC says
Total UK footfall decreased by 2.9% in September (YoY), down from -1.6% in August, according to new data from the BRC. High street footfall decreased by 1.7% in September, down from -0.9% in August, meanwhile retail parks footfall decreased by 2.4%, remaining the same in August. Shopping centre footfall decreased…
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4 OctoberDIY
Topps Tiles welcomes record turnover for third consecutive year
Topps Tiles has seen revenues hit £263m in FY23, marking the third consecutive year of record turnover for the group, with sales now £40m above FY19 levels. Sales rose by 6.4% against the prior year after a “significant outperformance” in the UK tiling market, as the group said it is…
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3 OctoberNews
Today’s news in brief-3/10/23
Next announced the retirement of its CFO, Amanda James, after 28 years of service. This transition is aligned with James’ long-standing plans and is set for September 26 2024, following the release of interim results. Jonathan Blanchard of Reiss is slated to succeed her, bringing over three decades of financial…
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3 OctoberNews
Footfall forecast to drop in run-up to Christmas
Christmas for retailers and the hospitality industry will be challenging due to rising bills that will have started to bite since September, the retail intelligence experts at MRI Software, formerly Springboard, are forecasting. It found that this year, footfall across all UK retail destinations will decline on a month-to-month basis,…
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3 OctoberSupermarkets
Shop price inflation reaches lowest point in a year
Shop price annual inflation dropped to 6.2% in September, down from 6.9% in August, reaching its lowest point since September 2022, according to data from the British Retail Consortium (BRC). The BRC has put this decrease down to competition between retailers causing prices to drop. Non-food inflation eased to 4.4%…
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Sep- 2023 -25 SeptemberNews
Today’s news in brief- 25/09/23
H&M has reversed its earlier decision to impose a processing fee of £1.99 for in-store returns of online purchases. The initial announcement had been met with public outcry. Now, H&M’s website clarifies that there will be no return fee for parcels returned in-store. However, non-H&M members will still be subject…
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25 SeptemberNews
UK consumer confidence up four points, says GFK
GfK’s long-running Consumer Confidence Index increased four points to -21 in September amid falling inflation figures, growth in wages and high interest rates. The index measuring changes in personal finances during the last year was up two points at -13; this is 15 points better than September 2022. The forecast…
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22 SeptemberFeatures
The Golden Quarter: Perfect promotions through intelligent merchandising
The 100-day countdown to Christmas – a period which also includes key dates such as Halloween, Black Friday and Cyber Monday in quick succession – is the busiest period in the retail calendar, and unquestionably the most challenging. This year’s Golden Quarter will likely be one of the most difficult…
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21 SeptemberEconomy
Bank of England keeps interest rates unchanged at 5.25%
Following 14 straight rate rises, the Bank of England (BoE) has kept interest rates unchanged at 5.25%. At its latest meeting, the Monetary Policy Committee (MPC) voted by a slim majority of 5–4 to maintain the current rate, though four members preferred to increase the rate to 5.5%. The MPC…
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20 SeptemberNews
Today’s news in brief-20/09/23
Dunelm announced record sales in its full-year results, with revenues rising by 5.5% to £1.64bn. However, profits fell by 7.7% to £192.7m. The company attributed the strong sales to cost reductions on over 1,000 products and the strength of its product range. Dunelm also invested over £20m in digital operations…
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