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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Aug- 2023 -25 AugustNews
UK consumer confidence improves in August as inflation falls
GfK’s Consumer Confidence Index was up five points to -25 in August, compared with -44 in August 2022. UK consumers’ expectations for the general economic situation over the next 12 months have increased by three points to -30, which is 30 points higher than the same period last year. The…
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8 AugustShopping Centres
Retail sales slow in July amid heavy rain
The UK’s total retail sales increased by 1.5% in the four weeks to 29 July, against the 2.3% growth experienced in the same month last year. This was below the three-month average growth of 3.5% and the 12-month average growth of 3.9%, according to BRC data. This lacklustre growth in…
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4 AugustEconomy
Retail sector accounted for 16% of UK administrations in 2023, study finds
The retail sector accounted for 16% of administrations in the first six months of 2023 – the highest industry in the UK, according to analysis by full-service law firm Shakespeare Martineau. A total of 759 businesses, 118 of which came from the retail sector, filed for administration between 1 January…
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3 AugustEconomy
BoE raises interest rates to 5.25%
The Bank of England (BoE) has raised interest rates for the 14th consecutive time to 5.25% in a bid to combat inflation. The bank’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target. At its meeting ending on 2 August 2023, the MPC voted by a…
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3 AugustHigh Street
July footfall drops for the first time since 2009
Footfall across UK retail destinations declined by -0.3% over the month from June to July 2023, marking the first time it dropped in the month since 2009. According to the latest data from Springboard, there was a month on month decrease in footfall in high streets of -1.7%, whilst in…
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3 AugustDIY
ScS full-year profits to meet market expectations
ScS has said it expects to report that full year profits will be in line with market expectations, as the group’s cash position stands at £69.5m with no debt for the year ended 29 July. This comes as the group achieved strong like-for-like order growth of 6% from weeks 34…
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Jul- 2023 -24 JulyDepartment Stores
UK retail M&A deals increase to a five-year high
The number of M&A deals targeting UK retailers has increased 23% over the last year, from 31 deals in the year ending March 2022 to 38 in the year ending March 2023. These are the highest levels seen in five years, according to research by international law firm RPC. In…
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21 JulyEconomy
Consumer confidence falls in July
Consumer confidence index dropped six points in July to -30 as “reality bites” resilient consumers amid rising inflation and interest rates, according to GfK’s long-running survey. The survey revealed that all five measures were down in comparison to last month’s announcement. The index measuring changes in personal finances during the…
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12 JulyHigh Street
June footfall sees highest increase since 2009
High inflation and rising interest rates did not impact consumer activity across UK retail destinations last month, according to Springboard, who reported both the highest month-on-month and annual increases in footfall for June in any year since 2009. Footfall rose by +3.7% over the month from May to June, against…
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6 JulyElectrical
Currys axes dividend as full-year profits slump
Currys has scrapped its dividend after revealing both profits and sales fell in its full-year results, with the group hit by “depressed demand, high inflation and unforgiving competition”. In the full-year ended 29 April, adjusted profit before tax plunged 38% to £119m, down from £192m the prior year, in part…
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