National Living Wage
This coverage explores the implications of the National Living Wage for UK retailers, including its impact on staffing costs, operational decisions, and workforce management. Reporting highlights wage policy changes, employer responses, legal obligations, and strategies to balance compliance with commercial performance — providing insight for retail executives, HR managers, and business owners navigating wage legislation.
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Apr- 2018 -10 AprilHigh Street
Card Factory posts £14.6m drop in full-year profits
Card Factory has posted a £14.6m drop in its full-year profits which it has attributed to the weak pound and soaring wage costs. Pre-tax profits for the fiscal year ending January 31 were £72.6m, down 12.3% on the previous year. This is despite the card and gift retailer’s revenues increasing…
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Mar- 2018 -9 MarchClothing & Shoes
Shoe Zone, Karen Millen ‘named and shamed’ over minimum wage
Karen Millen and Shoe Zone are among the firms that have been ‘named and shamed’ by the Department of Business, Energy and Industrial Strategy (BEIS) for failing to pay their employees the minimum wage. In a list of 179 companies, Karen Millen failed to pay £9,847.20 to 28 workers while…
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Feb- 2018 -13 FebruaryClothing & Shoes
Insolvency cracks showing with one in five fashion retailers
Some 19% of UK clothing retailers are currently exhibiting early warning signs that they are at risk of going insolvent, according to research by accountancy firm Moore Stephens. Out of 35,078 fashion retailers analysed, 6,580 are showing early signs of financial distress, which can include a large fall in revenue…
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Jan- 2018 -9 JanuaryEconomy
Retail administrations increase in five-year-first
The number of retailers entering administration increased from 92 in 2016 to 118 in 2017, an increase of 28 percent, according to new analysis from Deloitte. This is the first increase in the last five years, as those administrations with more than ten stores rose from 11 in 2016 to…
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Nov- 2017 -23 NovemberGovernment
Retail associations respond to ‘encouraging’ Autumn Budget
A number of retail associations have responded positively to the Chancellor’s Budget which was revealed yesterday (22 November). The British Retail Consortium (BRC) and NFU Mutual reacted to the announcement that the move from RPI to CPI indexation will be brought forward by two years to 2018, allowing for a…
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