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- 2023 -16 JanuaryHigh Street
Matalan rescue deal to wipe founder’s control of group
Matalan founder John Hargreaves is reportedly set to lose control of the group after its lenders finalised a rescue deal that eliminates his equity, despite the retail tycoon submitting his own takeover bid for the group. According to the Times, Matalan is set to announce that lenders Invesco, Man GLG,…
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13 JanuaryDIY
DFS maintains guidance amid strong winter trading
DFS has maintained its profit guidance for the full-year following a strong start to its winter trading period. In the half-year ended 25 December 2022, order intake rose by 10.6% against the pre-pandemic period in FY19, with a “strong” second quarter that was boosted by market share gains. Overall, gross…
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13 JanuaryOnline & Digital
Very retail sales up 2.2% over Christmas period
Very Group has announced that its retail sales increased by 2.2% compared with the trading period in 2021 for the Christmas and Black Friday season, despite group sales dipping by 1.3%. Compared to the pre-pandemic period in FY19, retail sales were up by 19.6%. The group’s sales in the toys,…
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12 JanuaryOnline & Digital
Asos revenues fail to climb over Christmas period
Asos has failed to capitalise on the festive season as revenues for the four months ended 31 December fell by 3%, reflecting tough trading conditions, delivery disruptions and weak consumer sentiment. According to the online fashion giant, it expects the “volatile” trading of the period to continue through the next…
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10 JanuaryHigh Street
Card Factory ups FY guidance amid strong Xmas sales
Card Factory has raised its full-year guidance following a year of “good momentum” across the business, with sales boosted by a return to high street spending, particularly over the Christmas trading period. The group anticipates that EBITDA in FY23 will now be at least £106m, up from a previous guidance…
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6 JanuaryHealth & Beauty
Holland and Barrett appoints new executive chair
Holland and Barrett has announced the appointment of Alex Gourlay as its new executive chair. He has taken over from Michael Casey who has held the position as executive chair since September 2021. Casey has also been a non-executive board member since 2017 and will also remain in that role.…
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Dec- 2022 -21 DecemberClothing & Shoes
Paul Smith halves operating loss as FY sales surge 35%
Fashion retailer Paul Smith has almost halved its operating loss from £16.16m to £8.25m for the year ended 30 June, as its retail sales surged 35% to £97.1m. The group attributed the increase to an increase in footfall as its stores remained open and were unaffected by covid restrictions that…
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19 DecemberDepartment Stores
Ikea UK profits fall by nearly a fifth despite £2.2bn in sales
Ikea UK has announced that its profits have fallen nearly a fifth to £49.6m, despite posting sales of £2.2bn for the full year ended 31 August 2022. The company’s total online sales grew to 36% compared to 19% in 2019. Consumers also returned to stores, with store visitation increasing by…
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19 DecemberSupermarkets
Sainsbury’s to invest £550m in keeping prices low
Sainsbury’s is set to invest £550m over two years to keep its prices low and be “more competitive”, CEO Simon Roberts has confirmed, with £15m to be invested over the Christmas period. Speaking to the Mail on Sunday, Roberts said that the move will mean that profits will be lower…
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15 DecemberElectrical
Currys falls to pre-tax loss of £17m in H1
Currys has fallen to a pre-tax loss of £17m for the half year ended 29 October 2022, down from profits of £45m the prior year, as it attributed its weak performance outside of UK&I to its competitors’ “heavy” discounting. In light of this, the group is now expecting its full…
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