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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Oct- 2022 -27 OctoberHealth & Beauty
Fragrance Group sales and profits boosted by omnichannel strategy
The Fragrance Shop has reported increased annual sales and profits as it bounced back from the impact of the pandemic and “reaped the benefits” of investment in its omnichannel strategy. During the 53 weeks to 2 April 2022 it saw total turnover rise 42.5%to £156.83m and profits measured by EBITDA…
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26 OctoberHigh Street
Virgin Wines posts profit upturn as it warns of oncoming crisis
Virgin Wines has said that its profits before tax rose to £5.1m for the year ended 1 July 2022, up from £1.7m in 2021. While group revenues fell year-on-year from £73.6m to £69.2m, it remains 63% above pre-pandemic levels three years ago. Meanwhile the group’s cash balance was down from…
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25 OctoberOnline & Digital
Very revenues top pre-pandemic levels in FY22
The digital retail operator of Very and Littlewoods, The Very Group, has revealed that its FY22 revenue has surpassed pre-pandemic levels, with Very revenue up by 12.6% and group revenue up by 4.8% against FY20. However, compared to its “best-ever” year in FY21, Very’s full-year revenue dipped by 4% to…
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25 OctoberHigh Street
Shoe Zone celebrates positive year
Shoe Zone has revealed that its adjusted profit before tax is expected to be no less than £11m for the year ended 1 October 2022, up from £9.5m in the previous year. Group revenue also increased by 31.2% to £156.2m, up from £119.1m a year earlier. This was boosted by…
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21 OctoberEconomy
Retail sales fall below pre-pandemic levels
Retail sales volumes fell by 1.4% in September 2022, making them 1.3% below pre-coronavirus (Covid-19) February 2020 levels. According to the latest data from the ONS, while retailers continue to mention the effect of rising prices and the cost of living on sales volumes, they were also affected by the…
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21 OctoberHigh Street
ProCook revenues fall 9.1% in Q2
ProCook has reported revenues of £15.9m in Q2, a 9.1% drop year-on-year, yet still 110.4% higher on a like-for-like basis compared to pre-pandemic FY20, for the 16 weeks ended 16 October 2022. The group’s first half revenue of £27.4m, a 14.8% year-on-year decrease, was reportedly due to the annualisation of…
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20 OctoberHigh Street
Dunelm sales down 8% in Q1
Homewares retailer Dunelm has revealed that its sales were down by 8% to £357m in the 13-week period ended 1 October 2022, as the cost of living crisis impacted demand in the period. The retailer said this result was “robust” in the face of a strong comparative period, as last…
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20 OctoberOnline & Digital
Naked Wines axes roles in plan to ‘pivot to profit’
Naked Wines has made around 6% of its workforce redundant as part of a raft of measures to help the business “pivot to profit” and reset its cost base after weaker demand hit its profitability. It comes after investment into inventory spending and adding to its cost base did not…
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19 OctoberSupermarkets
Booths sales rise 4.4% in FY22
Booths has reported an overall sales improvement of 4.4% (£12.6m) to £296.7m in its full year results to 2 April 2022. Profit before tax rose by £1.1m to £3m, up from £1.9m the prior year, while EBITDA increased by £1.4m to £13.3m compared to £11.9m in 2021. The group’s trading…
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19 OctoberClothing & Shoes
Asos profits plunge 105% as group outlines turnaround strategy
Asos has seen its profits plummet 105% to a loss of £9.8m in its latest full-year results, down from profits of £190.1m, as customers reigned in their spending amid the cost of living crisis. The group noted consumer behaviour underwent a “marked change” from April 2022 when consumers faced accelerating…
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