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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Jul- 2022 -18 JulyNews
Profit warnings surge 66% in H1 FY22
The number of profit warnings issued by UK-listed companies in the first six months of 2022 has increased 66% year-on-year, with a “record” number of companies citing rising costs as the reason behind their warning, according to EY-Parthenon’s latest Profit Warnings report. A “record” 58% of companies cited rising costs…
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15 JulyHigh Street
Burberry revenues hit by China lockdowns
Burberry has revealed its Q1 global comparable store sales increased just 1%, from £479m to £505m, after being impacted by lockdowns in mainland China. Excluding Mainland China, comparable store sales grew 16%, while EMEIA comparable store sales grew 47%. The brand reported double-digit comparable growth in leather goods and outerwear…
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14 JulyClothing & Shoes
JD to expand outdoor business with a dozen new openings
JD Outdoors will expand its footprint with the opening of over a dozen new stores by the end of the summer, amid a spike in demand for outdoor products as Britain spends more time outside in the UK and Europe. Adding nearly half a million square feet of retail space…
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13 JulyClothing & Shoes
Boohoo to start charging £1.99 returns fee to offset shipping costs
Online fashion retailer Boohoo has become the latest retailer to start charging shoppers for returns as it looks to offset increased shipping costs. First reported by Retail Week, the move, which came into effect from 4 July, will see customers charged £1.99 to return goods with the sum taken out…
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12 JulyEconomy
Matalan revenues up 29% in Q1
Matalan has revealed that its total revenue for the 13 weeks to FY23 currently sits at £286.5m, which shows a 29% year-on-year increase compared to last year’s £221.8m. The company’s EBITDA post adoption of IFRS16 also reached £44.4m so far this year, showing an increase of £2.6m compared to £41.8m …
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12 JulyClothing & Shoes
Sosandar revenues jumps 142% as losses narrow in FY22
Sosandar has seen its revenues rocket 142% to £29.5m in the year ended 31 march, 2022, in what it dubbed a “milestone year” for the group. This included three consecutive months of “record” revenue in September, October and November 2021, as the group welcomed an “exceptionally strong” financial performance, exceeding…
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8 JulyEconomy
Superdrug sees profits surge 5% to £45m
Superdrug has revealed its full-year profit before tax has increased 141.3% to £45.3m, compared with £18.8m the previous year for the 53-week period ended 1 January 2022. It comes as it revealed its full-year revenues also increased 5.1% to £1.168bn, compared with £1.11bn in 2020 for the 53 week period…
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7 JulyHigh Street
Footfall set to remain below 2019 for foreseeable future
Footfall is set to remain below 2019 levels for the “foreseeable future” as the cost of living crisis deepens and working from home becomes a permanent fixture, according to the latest Footfall Monitor and Insights from Springboard. Springboard found that footfall strengthened for the third consecutive month in June, with…
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6 JulyHigh Street
Pro Cook profits surge 25% in FY22
Pro Cook has revealed its gross profits for the year end 3 April 2022 was £45m, up 25.5% from £35.9m over the same period in FY21. It also saw strong revenue growth of +29.5% to £69.2m (+78.0% vs FY20), and opened eight new stores during the year. Growth in its…
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5 JulySupermarkets
Sainsbury’s sales fall as CEO warns pressure on budgets set to intensify
Sainsbury’s has revealed its first quarter like-for-like sales for the 16 weeks to 25 June 2022 fell 4% YOY as it warned the pressure on households budgets is only set to “intensify” over the remainder of the year. Despite the like-for-like figures, Sainsbury’s said it experienced good grocery performance, with…
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