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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Jun- 2020 -9 JuneCoronavirus
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 monitor. The decline was less drastic when compared to April’s fall of 19.1%, but still marked the second worst decline recorded since the monitor began in 1995. Throughout the month,…
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9 JuneHigh Street
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 Dhaliwal have taken full ownership after buying out the entire shareholding of the company’s sole external investor Brait. Walker and Dhaliwal have bought Brait’s shareholding in Iceland Topco, representing 63.1%…
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8 JuneLuxury Goods
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% across its global business. The fashion giant said that the move was proposed following efforts to manage its cost base and operations in light of the ongoing “uncertainty” presented by…
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8 JuneCoronavirus
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 slap in the face” for key workers. The news comes as the government is considering trading laws limiting supermarket Sunday opening times to six hours, in an attempt to boost…
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5 JuneCoronavirus
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 800 jobs at risk. The lingerie brand confirmed it has appointed advisers to assess the impact of Covid-19 on the business as it will conduct a “light touch” administration whilst…
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5 JuneTips
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 towards fear—halting life as we know it entirely. The blow on the economy was felt all across the world, with governments all over rushing to stem the pandemic to urge…
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5 JuneClothing & Shoes
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. In the period ended 2 May, the group posted a total net loss of $932m (£735m), down from a profit of $227m (£179m) posted the same period the year prior. …
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4 JuneHigh Street
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 affects chief executive Steve Rowe and finance director Eoin Tonge, whose awards have now been lowered from 250% to an intended 175% of their salary. It comes after the retailer’s…
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4 JuneCoronavirus
Co-op expands robot service in Milton Keynes
The Co-operative has expanded its same-day autonomous robot deliveries in the UK across Milton Keynes and surrounding towns and villages amid the Covid-19 pandemic. The convenience retailer became the first to trial same-day autonomous robot deliveries in the UK when it teamed-up with Starship Technologies in April 2018 to offer…
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4 JuneClothing & Shoes
LVMH retreats from Tiffany takeover
Luxury powerhouse LVMH has announced that it will no longer go ahead with its proposed takeover of Tiffany & Co in light of “recent market rumours” amid the pandemic. LVMH had initially announced a “definitive” agreement with the luxury jewellers last November, whereby it outlined its intention to acquire the…
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