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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Sep- 2020 -21 SeptemberComment
The window of opportunity for pop-ups
The Coronavirus pandemic and subsequent events of this year have exacerbated the ongoing decline of the British high street, with footfall falling by 81% in April and 48% in July, according to the British Retail Consortium. From John Lewis to Carphone Warehouse to House of Fraser, it seems that no…
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21 SeptemberClothing & Shoes
Superdry swings to £42m loss in full-year results
Superdry announced it has swung to a pre-tax loss of £41.8m in the full-year ended 25 April, 2020, with underlying profit before tax down by 210% against the prior year. In addition, total revenue fell by 19.2% to £704.4m in the period, reflecting a “planned move away” from persistent discounting,…
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18 SeptemberShopping Centres
Westfield owner announces £8.1bn ‘reset’ plan
Westfield owner Unibail-Rodamco Westfield (URW) has announced an €9bn (£8.1bn) ‘reset’ plan which will see it attempt to raise £3.2bn in capital and make a number of European disposals. Along with capital raising URW said it will be limiting cash dividends through scrip and/or a lower payout ratio, resulting in…
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18 SeptemberCoronavirus
Mayor of London urges government to extend business rates holiday
The mayor of London, Sadiq Khan, and London Councils have joined together to urge the Government to extend the business rates holiday and help protect thousands of jobs in London and across the country. Businesses in the retail, hospitality, leisure and childcare sectors are currently benefiting from 100% relief from…
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18 SeptemberLuxury Goods
LVMH set to block Tiffany’s court petition
LVMH has announced it plans to block a court petition launched by jewellery company Tiffany & Co, who is attempting to fast-track legal proceedings after LVMH exited a proposed $16bn (£12bn) merger. The Louis Vuitton owner had agreed to the merger last year, but pulled out last week due to…
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18 SeptemberCoronavirus
UK retail sales rise for fourth consecutive month
August saw retail sales volumes increase by 0.8% when compared with July, marking the fourth consecutive month of growth. According to the latest figures from the Office of National Statistics (ONS), this resulted in an increase of 4% when compared with February’s pre-pandemic level of sales. The value of retail…
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17 SeptemberSupermarkets
Co-op H1 sales surge 8.8% but profits dented by Covid costs
Grocery chain Co-op saw has revealed that like-for-like sales for the six months of the year increased by 8.8% as the coronavirus pandemic increased demand for consumers shopping closer to home. For the first half of the year ending 24 July, revenues at the retailer also increased by 7.6% to…
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17 SeptemberGovernment
Government extends commercial eviction ban until end of year
The government has decided to extend its commercial property eviction ban until the end of 2020. Businesses have been shielded from eviction over the last six months through the lease forfeiture and debt enforcement moratoria, which was originally set to end on 1 October. Retail and hospitality trade associations, including…
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17 SeptemberDepartment Stores
Next raises forecast amid ‘resilient’ performance
Next has announced that full price sales were down by 33% in the first half of the year, following the impact of the pandemic. Full price sales in the last seven weeks of trading were up 4% on last year, however, with the group welcoming a “strong start” with sales…
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16 SeptemberCoronavirus
Covid forcing 4 in 10 SMEs to put sale plans on hold
SMEs across the UK have had to “tear up” business succession plans due to Covid-19 with four in 10 placing their sale plans on hold, according to research from Nucleus Commercial Finance. Prior to the pandemic, Nucleus’ research showed that over a third (35%) of SMEs had hopes of selling…
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