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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Jun- 2022 -6 JuneNews
New Look CEO Nigel Oddy steps down
New Look has announced that its chief executive officer (CEO), Nigel Oddy, has decided to step down from his role and leave the business. Oddy joined New Look in April 2019 and, during his tenure, he has led New Look’s financial restructuring, led the business through the pandemic, and overseen…
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5 JuneFeatures
Less hands make light work: easing impact financial stress on UK retailers
Almost every person in the UK has been affected by the various economic issues currently plaguing post-pandemic pockets. While discretionary spending is reigned in for the majority, many are forced to re-evaluate even essential purchases. When consumers face financial pressures, the effects soon filter through to afflict retailers. At the…
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1 JuneClothing & Shoes
Dr Martens profits surge to £214m amid record sales
Dr Martens has hailed a set of “record results” for the full-year period ending 30 March 2022 with its adjusted pre-tax profits surging 43% to £214.3m, after it revealed it sold “more pairs of boots, shoes, and sandals than at any time in its 62-year history”. The footwear brand, founded…
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May- 2022 -31 MayHigh Street
Violence and abuse against retail workers tripled over pandemic
Retail workers were subjected to a “huge” rise in violence and abuse over the pandemic, with incidents almost tripling to 1,301 per day in 2020/21, compared to 455 in 2019/20 according to the British Retail Consortium (BRC). The BRC’s crime survey found that of the 1,301 incidents recorded every single…
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31 MayDIY
B&M appoints CEO successor as FY revenues dip
B&M has revealed that sales dipped in its latest full-year results, alongside the announcement of a new CEO, as revenue fell by 2.7% to £4.7bn against the prior year, despite increasing 22.5% on a two-year basis against FY20. Its UK fascia revenue decreased 4.1% year-on-year, largely driven by a one-year…
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25 MayComment
AI-powered self-service is the future of physical retail
At the start of the Covid-19 pandemic, retail was among the most impacted industries: over 17,500 chain stores closed in the UK in 2020. At the same time, e-commerce growth numbers went through the roof. According to Digital Commerce 360, “the pandemic facilitated a gain of around $218 billion in…
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24 MayHigh Street
Harrods appoints chief financial officer
Harrods has appointed Tim Parker as its new chief financial officer for the group. He joins Harrods following 10 years at Jardin Matheson, where he held a range of senior finance leadership positions across Hong Kong and Malaysia for the diversified Asia-focussed group. Originally qualifying as an accountant with PwC…
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23 MayDIY
Kingfisher sales drop despite supply pressures easing
Kingfisher has announced its like-for-like sales dropped 5.4% to £3.2bn in the three months ended 30 April 2022 (Q1), although this is up 16.2% from pre-pandemic levels as inflationary and supply chain pressures have eased. In the UK and Ireland, total sales fell 14.1% in Q1, but increased 16.7% on…
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20 MayHigh Street
The Works warns of trading slowdown despite ‘strong’ FY22
Arts and crafts and book retailer The Works has warned it has experienced a slight slowdown in recent trading due to the cost of living crisis, despite reporting a “strong” FY22 performance. In a trading update for the 52 weeks ended 1 May 2022, the retailer revealed it was trading…
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20 MayHigh Street
Retail sales rise by 1.4% in April
Retail sales volumes rose by 1.4% in April 2022 following a fall of 1.2% in March 2022, with sales volumes 4.1% above their pre-coronavirus February 2020 levels. In the three months to April 2022, sales volumes fell by 0.3% when compared with the previous three months; this continues the downward…
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