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- 2021 -9 JulyHigh Street
June sees LFL retail sales rise by 52.1%
Total like-for-like (LFL) retail sales increased by 52.1% in June, according to the latest BDO’s High Street Sales Tracker. The tracker also revealed that retail sales jumped 41.7% in the third week of June from a “poor base” of 7.07% for the same week last year when non-essential retailers began…
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8 JulyHigh Street
Footfall jumps in first week of June but stalls amid restriction delay
Footfall across UK retail destinations continued to strengthen in June, moving to -22.2% below the 2019 level from -27.5% in May, the strongest result since the start of the pandemic, according to the latest monthly data from Springboard. However, Springboard revealed that the gains were “largely” made in the first…
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8 JulyHigh Street
WH Smith to open 18 new stores across UK airports
WH Smith has announced that it will open 18 new technology and accessories stores across some UK airports, including London Heathrow, London Stansted, Manchester, London Luton, Birmingham and East Midlands. The stores will trade under the North American, InMotion brand with the group anticipating that the new openings will deliver…
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8 JulyLuxury Goods
Watches of Switzerland revenues hit £905m in FY21
Watches of Switzerland has seen its revenue rise by 13.3% to £905.1m in the year ended 2 May, 2021, with revenue up by 17.9% against FY19. Over the same period, its pre-tax profit hit £63.7m, up from the £1.5m reported in FY20, while EBITDA rose by 34.9% to £105.4m. Despite…
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8 JulyDepartment Stores
B&M Q1 revenues rise 3.1% to £1.2bn
Variety goods value retailer B&M has announced that total group revenues increased 3.1% year-on-year to £1.19bn for Q1 FY22. While one-year like-for-like (LFL) revenues fell 4.4% for the 13 weeks ended 26 June 2021, two-year LFL revenues spiked 21.3% at the firm. B&M UK comprised the largest proportion of group…
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7 JulySupermarkets
Tesco partners with Prince’s Trust to ‘jump start’ 45,000 young careers
Tesco has committed to helping over 45,000 young people “jump start” their career and build employability skills in partnership with The Prince’s Trust. The news follows a recent report from think tank The Social Market Foundation, which found that half of the 1,000 respondents of young people aged 16-25 said…
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7 JulyHigh Street
Prices and product confusion barriers to sustainability, survey finds
UK consumers’ interest in sustainable products has risen significantly but barriers such as high prices, confusion around product quality, and lack of trust in sustainability credentials are stopping them from making purchases, according to a new survey from EY. It comes as the latest EY Future Consumer Index found that…
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7 JulyEconomy
BRC report highlights chargeback ‘struggles’ for retailers
The British Retail Consortium (BRC) has published a report which highlights the ongoing chargeback “struggles” affecting retailers in the UK. The survey’s respondents, who were retailers across a wide variety of sectors, identified a change in chargeback issuances linked directly to Covid-19 which saw an average increase of 25%. Some…
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6 JulyAdvice
Retail sector valuations in the current climate
The current pandemic has caused widespread disruption to the retail sector, with many struggling to maintain a healthy cashflow and revenues and profits down on previous years. Knowing the different types of valuation methods and when to use them can help business owners know what their company is worth now, helping to support their…
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6 JulyCoronavirus
Usdaw ‘slams’ lifting of restrictions in shops
Usdaw has “slammed” the government’s announcement that it plans to lift safety measures in stores once the final Covid restrictions are lifted on 19 July. In a speech made yesterday (5 July), the Prime Minister confirmed that face coverings would no longer be mandatory in shops from that date, whilst…
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