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 -1 MayBusiness Bites
Are we beginning to re-open anyway?
The PM says he will soon announce the reopening plan after weeks of compulsory lockdown for the UKs public and its businesses. Boris Johnson is under pressure to come up with the blueprint for restarting the economy as the list of suffering firms grows larger and more and more redundancies…
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1 MayCoronavirus
Iceland boss hits back at HMRC over minimum wage probe
The boss of Iceland has hit back at HMRC for “harassing” the business in regards to a previous minimum wage tax dispute amid the ongoing coronavirus pandemic. According to the Times, Sir Malcom Walker, who founded the businesses over 50 years ago, said in a letter that HMRC should be…
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1 MayCoronavirus
Intu appoints to chief restructuring officer to ‘fix’ balance sheets
Shopping centre owner Intu has announced the appointment of David Hargrave as chief restructuring officer to “fix” its balance sheet amid the Covid-19 pandemic. Hargrave has 33 years of experience in the transaction business of ‘Big four’ accounting firms, where he held senior positions at PwC, from 1987 to 200…
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1 MayCoronavirus
Amazon: Sales surge while spending rises
Amazon has revealed that sales rocketed 26% to $75.5bn (£60.1bn) in the first quarter of the year, with a possibility of rising 28% in the next quarter. Despite the boom in sales, net income still fell 29% to $2.5bn (£1.9bn) in the period following increased spending, with shipping costs alone…
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Apr- 2020 -30 AprilCoronavirus
Oasis and Warehouse stores closed ‘indefinitely’, 1,800 jobs lost
Over 1,800 employees at fashion retailers Oasis and Warehouse are set to be made redundant after administrators failed to find a new buyer for the retailers. The fashion brands have now been sold to Hilco, a restructuring firm and former owner of HMV. Whilst Hilco agreed to buy the retailer’s…
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30 AprilCoronavirus
Covid-19: 70% of shopworkers are experiencing anxiety, says Udsaw
Shopworkers trade union Usdaw has released statistics revealing 70% of shop workers are experiencing anxiety and have raised concerns with their employers amid the Covid-19 crisis. The statistics revealed that 39% of the 7,357 members surveyed, primarily essential workers in shops, distribution warehouses, road transport or work as delivery drivers…
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30 AprilBusiness Bites
Coronavirus treatment hopes push stock markets up, and ‘Spoons to reopen in June
Investors are chirpy this morning amid hopes of a new coronavirus treatment that has been described as promising by the USA’s top infectious disease official, Dr Anthony Fauci. The experimental drug, called remdesivir, is produced by an American biopharmaceutical firm called Gilead Sciences, and is reckoned by US regulators to…
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30 AprilComment
Will coronavirus permanently change millennials and Gen Z retail habits?
Bushfires decimating Australia, the fraught finalising of Brexit, and a global virus pandemic – so far, 2020 has been a year of challenges. For the UK’s older teenagers, the already turbulent world around them has become even more uncertain. Any plans to begin higher education or full-time employment have been…
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30 AprilCoronavirus
Sainsbury’s to face £500m profit hit
Sainsbury’s has warned that its annual profits could take a £500m hit as a result of the ongoing pandemic, despite a recent rise in grocery sales. The supermarket giant said the profit impact was due to “significant costs” in light of the nationwide lockdown, such as weaker sales fuel, clothing…
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29 AprilComment
Twin peaks: it’s a time of peak purchasing, but not as we know it
Purchasing in the time of Covid-19 is fuelled far more by necessity than luxury, and it’s an unprecedented peak the retail industry is rapidly trying to adjust to. These aren’t indulgent puddings to follow your Christmas spread, or a fun new gadget you’ve treated yourself to because the Black Friday…
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