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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Jan- 2024 -12 JanuaryPeople Moves
John Lewis appoints department store and operations directors
The John Lewis Partnership has announced the appointment of Peter Ruis as executive director of the retailer’s department stores and Naomi Simcock the new operations director. A former John Lewis director, Ruis will rejoin the executive team on 15 January, having more than 30 years of leadership experience at a…
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9 JanuaryAdvice
A guide to effective crisis management for retailers
Prepare in advance The first step in crisis management is proactive preparation. Retailers should develop a comprehensive crisis management plan that includes: Identifying potential crises specific to the retail industry. Designating a crisis management team with clearly defined roles. Establishing communication protocols, both internal and external. Creating a repository of…
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8 JanuaryNews
Today’s news in brief-8/1/24
The UK retail sector faced challenges as almost 120,000 jobs were lost and over 10,000 stores closed, according to data from the Centre for Retail Research. Despite a -38.8% decrease in store closures compared to 2022, and a -21.3% reduction in redundancies, the improvement is seen as “less bad” rather…
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8 JanuaryTechnology
iSmash eyes sale amid growing losses
iSmash is reportedly exploring a possible sale of the business after its auditors warned of a “material uncertainty” over its future amid growing losses, the Times has reported. According to its recent trading update, the company revealed it fell further into the red in the year to the end of…
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8 JanuaryEconomy
120,000 retail jobs lost in 2023
Almost 120,000 retail employees lost their jobs in 2023 after more than 10,000 shops shuttered over the year, according to new data from the Centre for Retail Research. It found that during the 2023 calendar year, a total of 119,405 jobs were lost and 10,494 stores were shuttered across the…
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4 JanuaryNews
Food and health and beauty to perform better in 2024
Food and health and Beauty are expected to be two of the best performing retail categories for 2024, according to predictions from the KPMG/RetailNext Retail Think Tank (RTT), an independent board of retail experts. In its latest 2024 Retail Outlook report, the RTT predicts a return to volume growth in…
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4 JanuaryLuxury Goods
Barbour FY23 profits fall despite healthy sales rise
Barbour has revealed that operating profits fell 15% to £34.3m for the year ended 30 April 2023, despite seeing sales increase by 20% year-on-year to £343m during the period. The retailer attributed the dent in its operating profits to “intense cost pressures” on the business. In February 2023, the luxury…
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Dec- 2023 -22 DecemberNews
Today’s news in brief- 22/12/23
Nike has announced a cost-saving plan of $2bn over the next three years and revised down its sales forecast. This move has led to an over 11% drop in the company’s stock price during after-hours trading. The company anticipates a pre-tax charge of $400-450m in the current quarter due to…
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22 DecemberNews
UK retail sales rise 1.3% in November
Retail sales volumes are estimated to have increased by 1.3% in November 2023, from no growth (revised from a fall of 0.3%) in October 2023, according to new figures by the ONS. Non-food store sales volumes rose by 2.3% in November 2023, following a 0.2% increase in October 2023. Retailers…
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21 DecemberNews
4,500 retailers in critical financial distress, new data reveals
Nearly 4,500 retailers are now in critical financial distress as poor consumer confidence, “sticky” inflation, and elevated interest rates force consumers to hold back from spending big, even in the run up to Christmas, according to new data from Begbies Traynor. Following its findings, which analysed the first 10 weeks…
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