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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Jul- 2024 -1 JulyClothing & Shoes
Fancy dress brand Smiffy’s sold to Ad Populum
Fancy dress retailer R.H. Smith and Sons, trading as Smiffy’s, has been sold to Ad Populum after falling into administration. Headquartered in Leeds, Smiffy’s has been operating for over 100 years and has stores in Liverpool, Newcastle and Oxford. However, the retailer was forced to appoint joint administrators from PwC…
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Jun- 2024 -18 JuneNews
Today’s news in brief-18/6/24
Supermarket sales in the UK saw a modest increase of just 1.0% for the four weeks to June 9, 2024, marking the slowest growth since June 2022. This sluggish performance is attributed to poor weather and falling inflation, with average shopper visits dropping slightly from 16.4 to 16.3 times compared…
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18 JuneLuxury Goods
Michael Kors eyes further price hikes as UK sales nosedive
Michael Kors may resort to further price hikes after seeing the cost of basic materials rise, at the same time as it experienced a dramatic fall in UK sales last year, This is Money has reported. The luxury group’s sales performance, which was down by a tenth in the UK,…
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17 JuneNews
Today’s news in brief-17/6/24
Superdry’s shareholders have approved a restructuring plan to rescue the company from financial difficulties. This plan, following the approval of creditors, includes a £10m equity raise and delisting from the stock market. Founder Julian Dunkerton will underwrite the equity raise, which the company believes will provide sufficient liquidity for its…
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17 JunePeople Moves
Kingfisher names Bhavesh Mistry as new CFO
B&Q owner Kingfisher has announced the appointment of Bhavesh Mistry to the role of chief financial officer, with his exact start date to be announced in due course. The news comes as current CFO Bernard Bot will be retiring to “further pursue his non-executive career”. While Bot’s leaving date is…
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17 JuneEconomy
Peak international spending returns to pre-pandemic levels, ONS finds
Spending by international visitors in August, the traditional UK high season, has largely recovered since the Covid-19 pandemic, according to the latest figures from the Office for National Statistics (ONS) and Visa. The ONS found that places in the UK with the highest concentration of seasonal spend by international tourists…
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10 JuneNews
Today’s news in brief-10/6/24
Labour has pledged to overhaul the business rates system if it wins the upcoming general election. The party aims to create a fairer system that supports small businesses and high streets while ensuring that large multinationals and tech companies pay their fair share. Shadow Chancellor Rachel Reeves highlighted the need…
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10 JuneNews
New West End Company launches manifesto ahead of GE
New West End Company has announced the launch of its new manifesto ahead of the general election in July. The organisation said that the manifesto will focus on three pillars – supporting opportunity and growth, ensuring the West End is safe and accessible, and promoting the district on the international…
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7 JuneAdvice
The power of personalisation in grocery retail
Over the last four years consumer behaviour has undergone a profound transformation, none more apparent than in the realm of grocery shopping. While some have returned to the aisles of brick-and-mortar stores, a significant portion continue to embrace the convenience of digital shopping for their weekly essentials. The shift towards…
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5 JuneHigh Street
B&M posts profits of £498m
B&M has revealed that its statutory profit-before-tax rose 14% to £498m, up from £436m, for the year ended 30 March 2024. Furthermore, the group’s revenue jumped 10.1% to £5.5bn or 7.8% when excluding the 53rd week. Alongside this, the retailer posted an adjusted EBITDA of £629m, a 9.7% increase year-on-year…
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