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.
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Mar- 2021 -12 MarchFeatures
A look at what an online sales tax means for businesses
In last year’s Business Rates Review: Call for Evidence, Jesse Norman MP, financial secretary to the Treasury, said the government would explore the potential options of “alternative” property and online taxes which could act as “possible replacements” for rates to tackle the increases in businesses online presence. The proposition would…
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12 MarchOnline & Digital
JD.com Q4 revenues up 31%
Chinese online retailer JD.com reported a 31% increase in revenues during the fourth quarter of the year to RMB224.3bn (£24.7bn). The Q4 performance has beaten analyst expectations of RMB 220.3bn (£24bn) as the Covid-19 pandemic drove consumers to its online operations. The retailer also reported that income from operations for…
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12 MarchLuxury Goods
Burberry upgrades Q4 guidance
Burberry has announced that ahead of its trading update, the group anticipates its fourth quarter results to be “better than expected” with an adjusted operating margin to be in the range of 15.5% to 16.5%. The retailer has estimated that its comparable store retail sales in Q4 FY2021 will range…
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12 MarchEconomy
UK GDP shrinks 2.9% amid January lockdown
Monthly GDP fell by 2.9% in January as a national lockdown proved to impact economic activity, new data from the Office for National Statistics (ONS) reveals. Figures released show that January’s GDP was 9.0% below the levels seen in February 2020, and 4.0% below October 2020 – the “initial recovery…
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12 MarchComment
PCI – whose problem is it, anyway?
Remember when the General Data Protection Regulation (GDPR) legislation hit in the UK? Well, it came out in May 2018, and firms are still struggling to come to terms with it. There are big names out there who’ve been hit for six with the big stick that is GDPR –…
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12 MarchHigh Street
Government announces eviction ban extension
The ministry of housing, communities, and local government has announced an extension to the ban of commercial evictions until 30 June. Introduced by Robert Jenrick, housing secretary, the measure is intended to ensure businesses are supported upon reopening. Alongside the commercial support package is a six-month notice period and bailiff…
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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…
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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. …
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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…
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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…
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