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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Sep- 2023 -21 SeptemberNews
Today’s news in brief-21/09/23
Wilko’s administrators PwC are reportedly set to begin a review of dividend payouts totalling £77m to investors over the past decade. The review will focus on payouts to the Wilkinson family and other investors leading up to the retailer’s decline. Notably, despite posting losses of £39m, Wilko paid out a…
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21 SeptemberSport & Leisure
JD Sports revenues up 8% in H1
JD Sports revenues grew by 8% to £4.7bn in the 26 weeks to 29 July, as gross margins were “robust” at 48% and well above pre-pandemic levels due to a more normal promotional environment in H1. The group said its profit before tax and adjusted items of £373.5m also reflected…
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21 SeptemberDIY
DFS profits halve in full-year results
DFS profits have halved in its latest full-year results, falling by 49.2% to £29.7m, down from £58.5m the year before, as the group contended with a “very tough market” over the period. Revenues from continuing operations were also down by 5.3%, falling to £1.09bn Nonetheless, this was still 13.8% ahead…
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18 SeptemberNews
Today’s news in brief
Mike Ashley is reportedly in talks to sell the online clothing label Missguided to Shein, a Chinese-founded online fashion platform. If successful, this would mark Shein’s first acquisition of a British fashion brand. The deal is anticipated to cover Missguided’s brand and intellectual property, with Ashley’s company retaining its head…
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18 SeptemberNews
Boots ditches plans for online marketplace
Boots has reportedly decided to ditch plans for the launch of its online marketplace, according to Retail Week. The health and beauty retailer had previously announced the launch of the marketplace back in spring 2023 as part of its digital transformation post-pandemic and hailed as an opportunity for brands to…
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18 SeptemberHealth & Beauty
Waterstones owner tables Body Shop bid
The owner of Waterstones, Elliott Advisors, has reportedly joined a list of bidders looking to acquire The Body Shop after it was put up for sale by its owner. According to Sky News, the investment firm tabled an indicative bid for the cosmetic chain in recent weeks. However, Sky said…
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13 SeptemberPeople Moves
Majestic to recruit 200 employees ahead of Christmas
Wine retailer Majestic has announced plans to hire 200 employees to work in its nationwide portfolio of stores in what is the company’s biggest ever pre-Christmas recruitment drive. Majestic will be expanding its workforce with a combination of permanent positions and temporary festive roles, as it gears up for the…
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12 SeptemberEconomy
Wage growth starts to outpace rate of inflation
Pay growth has caught up with the rate of inflation for the first time in nearly two years, as wages surged at a record rate in the last quarter, official figures have shown. According to the Office for National Statistics (ONS), earnings, excluding bonuses, rose by 7.8% between May and…
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8 SeptemberClothing & Shoes
Ann Summers plans expansion amid strong FY results
Ann Summers has seen its turnover rise by 7.4% to £100.1m in the year ended 25 June 2022, with plans to open more stores following the strong full-year results. In its latest Companies House filings, the group also reported that sales were up by 7.6% against the prior year, and…
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6 SeptemberFeatures
How can retailers combat shoplifters?
Retailers have recently reported that they are increasingly dealing with a problem of shoplifting in addition to the rising cost of living issues and inflation. According to the British Retail Consortium, about 850 incidents of violence or abuse against shop workers are recorded every day in Britain and have cost…
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