Pandemic

UK GDP expected to decline 7.2% in 2020 amid ongoing pandemic

The continuing impact of the Covid-19 virus is expected to see the UK economy contract by 7.2% in 2020, with…

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70% of shoppers ‘not comfortable’ returning to shops

Consumers remain “deeply cautious” about returning to shops, the latest EY Future Consumer Index has revealed ahead of retailers opening…

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Retailers face second worst month on record

May was another “testing” month for retailers, with total sales down by 5.9%, according to the latest BRC-KPMG retail sales…

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Iceland founder and CEO take full ownership after buying 63% stake

Frozen food retailer Iceland has announced that its founder and executive chairman Sir Malcolm Walker and chief executive officer Tarsem…

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Mulberry to cut global workforce by 25%

Luxury retailer Mulberry has announced the launch of a consultation process on proposals to reduce its workforce by approximately 25%…

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Usdaw opposes government plans to open supermarkets full time on Sundays

Shopworkers union Usdaw has condemned government plans to let supermarkets open for 24 hours a day on Sundays as “a…

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Victoria Secret’s UK arm falls into administration placing 800 jobs at risk

Victoria’s Secret has announced it has drafted in Deloitte advisers as its UK division has fallen into administration, putting over…

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Government-backed loans to UK businesses reveals horrible truth

Due to the rapid spread of Coronavirus Disease (COVID-19) and the toll that it took, the world has been pushed…

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Gap sales nosedive by 43% in first quarter

Gap Inc. sales plunged 43% year-on-year in the first quarter of 2020, largely driven by store closures across its estate. …

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M&S lowers share award payout for top execs amid Covid-19 pandemic

Marks and Spencer has lowered the share payout for it’s top two executives, amid the ongoing Covid-19 pandemic. This largely…

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