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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May- 2020 -26 MayLuxury Goods
Burberry senior independent director departs due to ‘other executive commitments’
Burberry has announced that Jeremy Darroch, independent non-executive director and senior independent director, has informed the company that he will not stand for re-election at the company’s AGM on 15 July due to “other executive commitments”. Darroch joined the board in February 2014 becoming senior independent director on 1 July…
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22 MayTips
3 Ways UK’s Retail Industry Will Change With COVID-19 – What to Know
With the COVID-19 pandemic making its apparent impact on the operations of British businesses every day, many business owners are in a steady waiting game for everything to go back to normal. While it may be human instinct to be as optimistic as possible in such dire times, the unseen…
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22 MayEconomy
Consumer confidence drops further in May
GfK’s long-running Consumer Confidence Index has decreased by one point to -34 for May, as the Covid-19 pandemic continues. The measure for the general economic situation of the country during the last 12 months has dropped seven points to -55, 25 points lower than in May 2019. Additionally, expectations for…
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22 MayCoronavirus
Retail sees record slump in April
Retail sales slumped by a record 18.1% in April, according to the latest data from the Office of National Statistics (ONS). This marked the worst decline since ONS records began in 1988, and closely follows the “strong” monthly decline of 5.2% that was recorded in March. All sectors across retail…
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22 MayClothing & Shoes
Burberry sales fall 27% amid Covid-19 pandemic
Luxury fashion retailer Burberry has reported a 27% decrease in like-for-like sales in its fourth quarter results, attributing the loss to the coronavirus pandemic. The fashion retailer also revealed a 57% drop in operating profit to £189m compared with £437m during the same period last year. Additionally, in its preliminary…
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20 MayHigh Street
Johnsons Shoes Company enters administration
Johnsons Shoes Company, which operates 12 stores under the brands Johnsons Shoes and Bowleys Fine Shoes, has entered administration due to the impact of the coronavirus pandemic. Ian Defty and Richard Toone from insolvency and restructuring firm CVR Global have been appointed as administrators, and have opted to keep all…
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20 MayNews
Marks and Spencer profits tumble in full-year results
Marks and Spencer has announced that profit before tax tumbled 20.2% to £67.2m in the full-year ended 28 March 2020. It comes as an uplift in food sales failed to offset poor sales in its clothing division. The retailer’s full-year grocery sales improved 1.9%, with an estimated 0.3% lift attributable…
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19 MayComment
Secondary market represents the key to survival during a crisis
As the Coronavirus outbreak lead to the forced closure of non-essential businesses across the nation, apparel retailers seem to have stopped in time. Relying on online-only purchasing and the movement of essential goods, retailers have witnessed a standstill of stock waiting for the pandemic to pass, are set to be…
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19 MayClothing & Shoes
N Brown secures new funding as sales drop 25% since lockdown
Jacamo, JD Williams and Simply Be owner N Brown has revealed it has secured a new £50m funding facility as it looks to weather the impact of the coronavirus pandemic which saw its sales fall by 25% over the last six weeks. In a trading update the company said it…
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19 MayCoronavirus
French Connection seeks urgent funding
French Connection has revealed it is in “active discussions” with potential funding partners in order to seek emergency cash as the pandemic continues. The move comes as the fashion retailer warned of a “continued expected weak trading environment” in light of the ongoing crisis. It added that without securing additional…
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