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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Aug- 2023 -4 AugustClothing & Shoes
Pentland Brands to axe almost 100 roles
Pentland Brands has announced that it will cut almost 100 jobs at JD Sports, The Times has reported. This comes as the billionaire Rubin family, which owns a majority stake in the sports retailer, has hired consultants from McKinsey to advise on a new strategy for Pentland Brands, which also…
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3 AugustHigh Street
July footfall drops for the first time since 2009
Footfall across UK retail destinations declined by -0.3% over the month from June to July 2023, marking the first time it dropped in the month since 2009. According to the latest data from Springboard, there was a month on month decrease in footfall in high streets of -1.7%, whilst in…
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3 AugustNews
John Lewis to train staff to deal with shoplifting violence
John Lewis is training its retail employees to tackle shoplifters following an increase in reports of the crime. In an interview with the BBC, head of security Nicki Juniper said John Lewis was “investing heavily in training” for security and shop staff. Juniper said: “Should they want to take part…
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Jul- 2023 -26 JulyOnline & Digital
THG in talks to buy City A.M.
Online beauty retailer THG is reportedly in advanced talks with London business newspaper, City A.M. to acquire it through a pre-pack administration, according to Sky News. The news comes after it was revealed that City A.M. is on the brink of administration after failed attempts to find a buyer in…
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19 JulyHigh Street
Small businesses to be offered rent-free stores on Oxford Street
Westminster City Council has partnered with New West End Company to launch a new programme called Meanwhile On: Oxford Street, which is encouraging applications from up-and-coming businesses that are looking to launch their first physical space. Meanwhile On: Oxford Street will offer “substantial” support by providing a six month tenancy…
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17 JulyHigh Street
DFS hits FY23 profit guidance amid record market share
Furniture retailer DFS has announced that it has hit its profit guidance of just over £30m for the year ended 25 June 2023. DFS stated that it hit this target despite the market being “significantly worse than expected”. The company’s gross margin rate continued to improve supported by freight costs…
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14 JulyAnalysis
Prime Day 2023: here’s what we know
Amazon’s Prime Day, a global annual shopping event organised by Amazon, has gained notoriety among Prime members since it was first introduced in 2015. While Prime Day 2023 is behind us now, the results of the total spend by consumers has not yet been quantified. Luckily, we have last year’s…
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13 JulyLuxury Goods
Watches of Switzerland profits jump 23% to £155m
Watches of Switzerland has posted a 23% increase in profits to £126m, up to £155m, for the year ended 30 April 2023. The increase comes amid a 25% increase in revenues to £1.5bn compared with £1.2bn in 2022. For the UK and Europe specifically the retailer posted revenues of £890m…
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12 JulyHealth & Beauty
Superdrug profits soar 71% in 2022
Superdrug has revealed that pre-tax profit soared by 71.7% to £77.8m in 2022, against the prior year’s £45.3m, as online trading volumes continued to track significantly ahead of pre-pandemic levels. The health and beauty retailers also saw a 17% surge in sales to £1.3bn in 2022, up from £1.1bn in…
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12 JulyHigh Street
June footfall sees highest increase since 2009
High inflation and rising interest rates did not impact consumer activity across UK retail destinations last month, according to Springboard, who reported both the highest month-on-month and annual increases in footfall for June in any year since 2009. Footfall rose by +3.7% over the month from May to June, against…
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