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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Feb- 2021 -12 FebruaryEconomy
UK suffers record 9.9% GDP slump
GDP declined by 9.9% in 2020, a figure which is more than double of what was recorded in 2009 after the UK’s financial crisis. According to the ONS, the fall was largely due to restrictions which were in place for most of the year, forcing the economy to operate at…
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12 FebruaryNews
Vacant units in City of London almost double amid pandemic
The number of vacant units in the City of London increased by 47% from 174 at the end of 2019 to 255 at the end of 2020, according to new research by retail data consultancy the Local Data Company This equated to an increase in vacancy rate in the City…
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11 FebruaryShopping Centres
Westfield owner to ‘significantly reduce’ exposure in US
Unibail-Rodamco-Westfield (URW) has revealed it will “significantly reduce” its financial exposure to the US and instead focus on its UK real estate. The news follows the company’s F2 2020 results which showed net rental income for shopping centres fell by 25.9% to €1.69bn (£1.4bn) from €2.29bn (£2bn) the previous year.…
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11 FebruaryClothing & Shoes
Ted Baker Q4 sales fall 47% amid low occasionwear demand
Clothing retailer Ted Baker reported that Q4 group revenues fell by 47% during the 13-week period ending 30 January 2021. It comes as the retailer said it has seen a “material negative impact” from the Covid pandemic including the closure of its entire UK store portfolio for the majority of…
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11 FebruaryHigh Street
Two-fifths of retailers expect Valentine’s sales boost
Two-fifths of retailers (41%) expect to see a boost in sales in the run up to Valentine’s Day. According to Barclaycard Payments, £787m is expected to be spent on the celebratory day, despite ongoing Covid-19 restrictions. As a result of the expected 26% spike to predicted sales, 63% of retailers…
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11 FebruaryEconomy
Non-food retailers see £22bn sales hit due to Covid
The British Retail Consortium (BRC) is reporting that the country’s three national lockdowns have cost ‘non-food’ stores – mainly ‘non-essential’ retail – an estimated £22bn in lost sales. The trade association said stricter restrictions in the crucial run-up to Christmas hampered retailers’ ability to generate much-needed turnover, which would have…
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10 FebruaryComment
Has the pandemic driven a permanent shift in consumer behaviour?
New Era If anyone was in any doubt about the future of retail, the purchase of Debenhams by Boohoo has surely sealed the deal. When an online-only retailer can snap up one of the UK’s high street stalwarts – and refuse to take either the physical stores or the warehouse…
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10 FebruaryOnline & Digital
Dunelm welcomes ‘strong’ H1 as online sales soar
Dunelm has welcomed a “strong” performance in its half-year results, with pre-tax profit soaring 34.4% to £112.4m in the period ended 26 December 2020. Despite ongoing store closures in light of the pandemic, total sales rose by 23% to £719.4m in H1, up from £585m the same period the year…
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10 FebruaryClothing & Shoes
Urban Outfitters Q4 sales drop 6.9%
Urban Outfitters has announced its total company net sales for the three months ended January 31, 2021, decreased 6.9% to $1.09bn (£787m) compared with $1.16bn (£837m) the previous year. The retailer also revealed comparable retail segment net sales decreased 7% which the group claims was due to negative retail store…
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10 FebruaryHigh Street
Arcadia employees press for legal action
Law firm Simpson Millar has been contacted by over 30 former Arcadia employees looking to press legal action against the retailer after their jobs were lost through the nature of the group’s takeover. Last week saw Asos snap up Topshop, Topman, and Miss Selfridge for £265m, while online retailer Boohoo…
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