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 -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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16 SeptemberComment
What to know: High street tenancies
As the Scottish Government considers extending the Coronavirus (Scotland) Act anti-irritancy provisions, which effectively prevent landlords from terminating commercial leases, speculation is increasing that temporary restrictions in England on landlords taking action against tenants in rent arrears may also be extended. What are those provisions and what do they mean…
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15 SeptemberCoronavirus
Unemployment rate rises to 4.1% in July
The rate of unemployment in the UK increased 0.2% to 4.1% in the two months to July 2020, according to the ONS. The UK economic inactivity rate was also estimated at a joint record low of 20.2%, 0.6 percentage points lower than the previous year and 0.3 percentage points lower…
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14 SeptemberFeatures
Behind the headline figures: Four reasons for optimism for retailers
The latest retail figures are showing signs of real encouragement for retailers. Retail sales volumes rose a better-than-expected 3.6% in July and are now above pre-pandemic levels. Data from the Office for National Statistics showed that sales rose 2% ahead of a 0.2% prediction by economists, and this was on…
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14 SeptemberCoronavirus
Insolvent companies cost taxpayers £250m
Insolvent companies that were unable to pay their debts in the first six months of 2020 have cost British taxpayers almost £250m, according to Altus Group. The software group found that the amount paid to former members of staff was up by £133.79m in the period against the prior year,…
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