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 -9 SeptemberClothing & Shoes
Quiz sales plummet, store closures anticipated
Fashion retailer Quiz has revealed its sales have been “significantly impacted” by the pandemic, with total sales falling by 77% to £12.8m between 1 April and 31 August. Its website sales totalled £4.9m in the period, marking a 45% decline against the £8.9m reported the year before. Sales through third…
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8 SeptemberEconomy
UK retail sales increase by 4.7% in August
UK retail sales in August have increased by 4.7% on a like-for-like basis from August 2019, according to figures released in BRC-KPMG’s Retail Sales Monitor report for the month. Overall sales increased by 3.9% in the period, in comparison to a decline of 0.4% in August 2019. This is above…
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7 SeptemberCoronavirus
60% of mid-sized businesses plan redundancies, BDO finds
More than half (60%) of the UK’s medium-sized businesses are planning redundancies as a result of the Government’s Coronavirus Job Retention Scheme coming to an end in October, according to new research from accountancy and business advisory firm, BDO. BDO’s monthly Rethinking the Economy survey of 500 medium-sized businesses across…
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7 SeptemberEconomy
GDP to contract £15.3bn each year if home working persists
Lower consumer spending and a decrease in economic clustering if pandemic levels of home working persist would reduce UK GDP by £15.3bn every year, according to new research published by PwC. The ‘Big Four’ accountancy firm said the hit to consumption is a result of office workers spending fewer days…
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3 SeptemberEconomy
UK small business sector ‘plagued’ by late payment issues
UK freelancers and small business owners continue to be plagued by the problem of late payment, according to new research by cloud accounting software company Freeagent. Analysis of over two million invoices sent by FreeAgent customers between January 2019 and June 2020 has revealed the “startling impact” of late payment…
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3 SeptemberHigh Street
Retail vacancy rate reaches six-year high
Retail shop vacancies have reached a six-year high due to the impact of the coronavirus pandemic, according to new research from Springboard. The research found the UK vacancy rate rose to 10.8% in July up from 9.8% in January, which means it is now at the highest level since January…
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3 SeptemberEntertainment
Lego reports double-digit growth in H1
The Lego Group has reported that revenue rose by 7% to DKK 15.7bn (£1.87bn) in the six months ended June 30, 2020. In the same period, consumer sales grew by 14% against the year before, while operating profit was DKK 3.9bn (£466m), an increase of 11% against the first half…
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2 SeptemberPeople Moves
Ray Kelvin returns to Ted Baker board through nominee director
Ray Kelvin, the founder of Ted Baker, has returned to the retailer’s executive board, following his exit last year amid allegations of misconduct. However, Kelvin will not take a physical place in the boardroom, and instead has appointed Colin La Fontaine Jackson to act as a nominee director. The retailer…
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2 SeptemberSupermarkets
Morrisons doubles number of instore florists
Morrisions is doubling the number of professional florists in its stores to 300 later this year, to meet increased consumer demand. Flowers have been one of the country’s most popular online purchases, with online searches up 277%, according to recent Google data. The supermarket is expanding its in-store florist shop,…
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1 SeptemberHigh Street
Moss Bros mulls possible CVA
Moss Bros is reportedly consdering a CVA after calling in advisers, following a ban on large weddings and events such as Royal Ascot which impacted sales during the Covid-19 pandemic. According to the Times, the retailer has called in KPMG to assist with restructuring, with reports that 125 stores are…
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