Pandemic
This coverage examines the impact of pandemics on the UK retail industry, focusing on operational disruption, financial challenges, consumer behaviour shifts, and recovery strategies. Reporting highlights store closures, safety measures, supply chain pressures, leadership decisions, and lessons learned to enhance resilience. Tailored for executives and managers, it provides insights to navigate crisis situations and strengthen preparedness.
-
Mar- 2021 -11 MarchClothing & Shoes
Prada posts £46m loss
Luxury Italian fashion brand Prada SpA has announced a net loss of £46m for the year ended 31 December 2020. While the group reported net profits of £108m for H2 of the financial year, its total revenues for the period fell 24% year-on-year to £2.09bn. Moreover, retail sales at Prada…
Read More » -
11 MarchSupermarkets
Morrisons remains ‘confident’ despite 62% fall in profits
Morrisons has said it expects to see profits recover this financial year, after it experienced a 62% decrease in pre-tax profits during 2020 due to costs brought on by the pandemic. Last year, the ‘Big-Four’ grocer saw like-for-like sales grow by 8.6%, as consumers flocked to supermarkets throughout the pandemic. …
Read More » -
11 MarchDepartment Stores
John Lewis swings to £517m loss, warns of further closures
The John Lewis Partnership has swung to a pre-tax loss of £517m in the full-year ended 31 January 2021, down from a profit of £146m reported the year before. This was largely the result of “substantial” exceptional costs of £648m, which included the write down in value of John Lewis…
Read More » -
10 MarchSport & Leisure
Evans Cycles to axe 300 roles
The Mike Ashley-owned Evans Cycles is reportedly set to axe more than 300 roles across the business as Frasers Group looks to cut further costs amid the pandemic. According to The Guardian, store employees will fall from 813 staff to 475, while “hundreds” of remaining store staff are also expected…
Read More » -
10 MarchDepartment Stores
M&S reveals redevelopment plans for flagship store
M&S has announced a proposal to redevelop its flagship Marble Arch store on Oxford Street as part of its Never the Same Again programme. As part of the proposal, the department store chain is set to consult with local stakeholders on the best course of action, with the aim of…
Read More » -
9 MarchOnline & Digital
Online retail sales up 70% in February
Online retail sales reportedly increased 69.5% year-on-year in February 2020, as Boris Johnson’s ‘roadmap’ out of lockdown supported consumer confidence. While the figure is slightly lower than January’s 74% growth, it is above the three, six, and 12-month rolling averages of 57.1%, 42.5%, and 42.7% year-on-year respectively. According to the…
Read More » -
9 MarchHigh Street
DFS revenues jump 17.3% in half-year results
DFS Furniture has announced its revenues increased by 17.3% to £572.6m in the 26 weeks to 29 December 2020, due to a rise in demand for living room furniture during lockdown. The retailer reported a strong trading performance over the period, which included a series of tiered lockdowns across the…
Read More » -
9 MarchOnline & Digital
M&S launches online business in 46 overseas markets
M&S has announced that its online international operations will expand to over 100 markets as it launches in 46 new countries, nearly doubling the number of international markets where it has a pureplay online presence. The expansion forms part of the group’s focus to “turbocharge” its online business under its…
Read More » -
8 MarchPeople Moves
BCC appoints new director general
The Board of the British Chambers of Commerce (BCC) has announced the appointment of Shevaun Haviland as its new director general. She will succeed Dr Adam Marshall who will step down on Wednesday 31 March after five years at the helm and 12 years with the organisation. Haviland joined the…
Read More » -
8 MarchHigh Street
Card Factory seeks fresh funding to aid survival
Card Factory has reportedly drafted in restructuring experts to help secure news funds to support the group through the pandemic. According to the Sunday Times, consultants from Deloitte initially contacted specialist lenders on behalf of the group in efforts to borrow £100m. Half of the funding would reportedly be used…
Read More »
