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 -5 JulyPeople Moves
The Very Group appoints CEO
The Very Group has appointed Lionel Desclée, the former president and CEO of Walmart Japan, as group CEO, effective 19 September 2022. He succeeds Henry Birch who will step down on 24 September 2022 after four and a half years in the role. Desclée has global experience across digital and…
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4 JulyDIY
Grafton Group CEO to step down
Grafton Group plc has announced that Gavin Slark has informed the board of his intention to step down as chief executive officer later this year after 11 years in the role. Slark will reportedly continue in his roles as CEO and board director until stepping down from both roles on…
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Jun- 2022 -30 JuneNews
Hilco in line to acquire Cath Kidston
Hilco is understood to be nearing a takeover of Cath Kidston, according to Sky News, after the brand was put up for sale by its owner, Baring Private Equity Asia (BPEA). Sky News has learnt that Hilco, which has owned an array of prominent high street names over the last…
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29 JuneHigh Street
Mulberry sees profits rise amid post-pandemic sales boost
Mulberry Group has reported that its revenues increased 32% to £152.4m compared with £115m in 2021, which it said reflects its strong recovery post pandemic. In its preliminary results for the 53 weeks ended 2 April 2022, Mulberry reported profits before tax reached £21.3m, up from £4.6m in 2021, however,…
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29 JuneHigh Street
H&M Group profits surge amid high street resurgence
H&M Group has revealed its gross profits increased by 52.2% to £4.36bn in the six months to 31 May. Profits after tax increased by 33% to £390m in the second quarter, on the back of a 17% rise in sales to £4.47bn, excluding Russia, Belarus and Ukraine sales. Net sales…
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28 JuneDIY
Hobbycraft revenues up 15% as online sales soar
Hobbycraft has welcomed a “robust” set of results in its latest financial year, as revenue rose by 14.8% to £203.1m, up from £176.9m in FY21. Its full-year adjusted EBITDA hit £15.0m, meanwhile, up from £13.8m in FY21 and £14.8m in FY20, before the pandemic. Overall, the group saw a total…
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27 JuneHigh Street
Braehead unveils host of new brands
Braehead, the retail and leisure destination, has announced a string of new openings at the shopping centre which are set to open this summer. Jewellery retailer Lovisa is set to open in the summer with a 780 square feet unit, and Suit Direct, the menswear retailer, has also signed on…
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27 JuneHigh Street
Cake Box sees profits surge to £15.8m
Cake Box has revealed its gross profits increased by 45% in the year up to 31 March 2022 to £15.8m. The cake retailer’s revenues also increased by 50.7% to £33m and its pre-tax profit climbed 83.3% to £7.7m. The company’s online sales grew by 41% in the period while the…
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27 JuneHigh Street
Cath Kidston up for sale two years after collapse
Cath Kidston, the fashion and homeware brand, has been put up for sale two years after collapsing into administration, with the loss of nearly 1,000 jobs. According to Sky News, Baring Private Equity Asia (BPEA) has instructed advisers at PricewaterhouseCoopers (PwC) to find a new owner for the now wholesale-led…
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27 JuneEconomy
High street footfall plummets amid cost of living strain
High street footfall fell 25% in May against the previous month, according to RSM UK’s analysis of the latest data from Datscha, showing that the biggest month-on-month decreases were seen in Glasgow (down 54%), Newcastle (down 40%) and Brighton (down 39%). Footfall is reportedly still 48% lower than pre-pandemic levels,…
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