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- 2022 -2 SeptemberPeople Moves
Not On The High Street appoints Leanne Rothwell as CEO
Not On The High Street has announced its chief commercial officer Leanne Rothwell is to succeed Claire Davenport as its CEO. Davenport is set to step down as CEO of Not On The High Street after three years leading the company. Rothwell will step into the role of CEO starting…
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2 SeptemberGovernment
Zahawi draws up multi-billion pound tax cut package for businesses
Chancellor Nadhim Zahawi has reportedly drawn up plans for a multi-billion pound tax cut package to help businesses amid rising energy costs. According to The Times, the chancellor said the government could “learn a lesson” from the pandemic by introducing targeted reductions in VAT and business rates to help both…
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1 SeptemberClothing & Shoes
Tommy Hilfiger and CK owner lowers FY22 outlook
PVH Corp has lowered its full year outlook for 2022, with revenues now expected to decrease 4% to 3% (increase 3% to 4% on a constant currency basis). The company also plans to reduce people costs in its global offices by 10% to streamline the organisation, drive efficiencies and fuel…
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Aug- 2022 -31 AugustSupermarkets
Brunello Cucinelli reports net profit of €50m
Casa di Moda Brunello Cucinelli has reported net profit of €50.6m (£43.4m) for the first half of 2022 ending June 30, up +131.4% compared with €21.9m (£18.8m) in H1 2021. It also revealed net sales of €415m (£356m), up +32.4% at current exchange rates compared with 2021. It comes as…
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30 AugustAnalysis
Why the fashion industry is edging into beauty
Fashion brands have always been intertwined with the beauty industry as they historically benefitted from the same demographic of female consumers. Luxury fashion brands such as Valentino, Giorgio Armani and Saint Laurent have been selling cosmetics since the 60s and 70s, with most finding a niche in producing luxury scents…
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30 AugustHigh Street
Store closures drop to lowest rate in seven years
Store closures have stabilised to the lowest rate in over seven years, with 6,146 store closures in H1 2022 (-30%) year-on-year from multiple retail operators, compared to 3,888 openings (+11%). According to PwC’s latest Store Openings and Closures report for H1 2022, there were 34 closures, 21 openings, and a…
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24 AugustClothing & Shoes
Apricot to exit CVA early
Creditors of Apricot have reportedly voted in favour of the retailer exiting its company voluntary process (CVA) 16 months earlier than planned due to an improvement in trade, according to Drapers. Apricot launched a CVA in January 2021 to move 13 of its 14 UK standalone stores to turnover rent…
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24 AugustDepartment Stores
Department stores could be given protected status
Department stores across the UK could be given protected status following a new review of high streets from Historic England. It comes as many department store units have been left empty following the collapse of such chains as BHS and Debenhams, which fell into administration in recent years, with closures…
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23 AugustComment
Retail Crisis: Why mountains of excess inventory and overselling is set to kill off many promising businesses
Remember the early days of the pandemic? The never-before-seen surge in online shopping meant retailers were overwhelmed with demand. Locked down consumers, desperate for a distraction, scrambled for everything from at-home fitness equipment and games consoles to gazebos and scatter cushions – and warehouses were cleared of stock, as supply…
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23 AugustAnalysis
Do staff cuts really help in a recession?
The European fashion retailer, Zalando, has predicted a return to growth of up to 3% in H2 despite a 58% profit drop during Q2, which reportedly brought the company’s operating profit down to £64.7m from £153.3m in the same period last year. In light of these results, and in spite…
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