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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Apr- 2020 -29 AprilCoronavirus
Next warns of ‘faster and steeper’ hit to sales amid Covid-19 crisis
Retail giant Next has revealed the impact of the Covid-19 lockdown on trading has been “faster and steeper” than anticipated as it reports a 41% plunge in full-price sales in its first quarter results. In the period from 26 January to 25 April, Next reported a 52% fall in high…
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29 AprilNews
Former Sainsbury’s exec set to head Waitrose
The John Lewis Partnership is poised to appoint a former Sainsbury’s executive to head up its food operations at Waitrose in an effort to navigate the ongoing pandemic. According to Sky News, the group’s new chair, Dame Sharon White, has approved the appointment of Sainsbury’s veteran James Bailey for the…
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28 AprilBusiness Bites
Job support to be wound down, M&S dividend suspended, ventilator production slows, property market halts
Chancellor Rishi Sunack says he will wean the economy off his support schemes in a “gradual” wind-down, to help prevent soaring unemployment on ‘expiration day’. His announcement, made to MPs, came in response to concerns that a definite cut-off date would produce an explosion in redundancies and layoffs. Currently, the…
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28 AprilCoronavirus
Tesco begins laying off some of its 45,000 temporary workers
Supermarket giant Tesco has reportedly begun laying off some of the 45,000 temporary workers it hired to help meet the surge in demand during the beginning of the coronavirus outbreak. According to the Telegraph, some of the job cuts have come earlier than expected with temporary staff in one store…
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28 AprilComment
Furlough – what next?
The Government’s Job Retention Scheme was set up urgently to support employers and protect employees during lockdown. Such state intervention, unprecedented in the UK, is designed to facilitate a quick rebound of the economy once business activity resumes. But as the crisis drags on, the lockdown has already been extended…
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28 AprilCoronavirus
Marks and Spencer suspends dividends, secures funding
Marks and Spencer has announced it will not pay a dividend for the 2020/21 financial year in its latest effort to “maximise its liquidity”. It expects the move to produce a cash saving of around £210m. The retailer revealed it has also reached an agreement with its lending banks to…
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28 AprilCoronavirus
UK economy not expected to recover until 2023, study suggests
The UK’s economy is not expected to return to normal until 2023 due to the coronavirus pandemic, according to a new report issued by economic forecasting group EY Item Club. The group has warned that it is likely to take three years for the UK economy to return to the…
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27 AprilCoronavirus
Chancellor announces 100% guarantee on small business loans
Chancellor Rishi Sunak has announced the launch of a new ‘bounce back’ emergency loan scheme for small businesses, which will offer 100% guarantees on emergency loans. Today (27 April) Sunak told the House of Commons that the scheme would begin next week, offering SMEs loans of up to £50,000. The…
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27 AprilBusiness Bites
Lockdown to persist says Johnson, clergy weigh in on behaviour of corona-corporations
The PM is back at his desk and says the lockdown must continue for the foreseeable future, and it would be premature to consider lifting now. After having been struck down with COVID-19 himself – and ending up in intensive care – the premier has finally convalesced and spoke from…
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27 AprilHigh Street
JD Sports to delay full-year results
Sports fashion retailer JD Sports has revealed plans to delay its full-year results to 7 July 2020, as the Covid-19 pandemic continues to impact the UK. In March the Financial Conduct Authority (‘FCA’) announced a temporary relief for listed companies that are due to report financial results during the current…
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