Recession
This coverage analyses the effects of economic recession on UK retail, focusing on consumer behaviour, business resilience, cost-cutting strategies, and market performance. Reporting provides insight into sales trends, operational adjustments, leadership decisions, and recovery planning — supporting retail executives, managers, and owners navigating economic downturns and sustaining commercial viability.
-
May- 2023 -11 MayNews
Adidas revenues remain flat in Q1
Apparel company Adidas reported flat currency-neutral revenues in Q1 compared to the same period last year. Currency-neutral sales in North America declined 20% to €1.1bn (£959m) during the quarter as the region is particularly affected by the discontinuation of the Yeezy business. Instead, sales in EMEA grew 4% to €1.9bn…
Read More » -
Apr- 2023 -28 AprilHigh Street
Gap to lay off 1,800 jobs as part of restructuring plan
Gap Inc is set to eliminate approximately 1,800 jobs from its global workforce as part of a broad restructuring plan, which is expected to save the retailer an extra $300m (£240.9m) annually. In a statement, the company said yesterday (27 April) that this is part of a plan outlined in…
Read More » -
24 AprilEconomy
Retail profit warnings fall to lowest level since 2020
UK-listed retailers issued five profit warnings in Q1 2023, marking a decrease from the nine issued in both Q4 2022 and Q1 2022, according to the latest data from EY. Despite representing the sector’s lowest quarterly total since Q4 2020, it said “persistent inflation, high interest rates and tightening consumer…
Read More » -
21 AprilEconomy
Poor weather sees retail sales fall 0.9% in March
Retail sales in the UK fell 0.9% in March according to latest figures from the Office for National Statistics (ONS). Some of this fall can be attributed to the poor weather in March following a 1.1% rise in February. Furthermore, non-food stores sales volumes fell by 1.3% in March 2023,…
Read More » -
Mar- 2023 -31 MarchEconomy
UK economy avoids recession amid 0.1% growth
The UK economy narrowly avoided a recession during the fourth quarter (Oct-Dec) as UK GDP increased 0.1%, revised up from no growth, according to the latest data from the ONS. In output terms, the services sector grew by 0.1% and the construction sector grew by 1.3%, while the production sector…
Read More » -
23 MarchEconomy
BoE raises interest rates to 4.25%
The Bank of England (BoE) has announced that interest rates will be raised by 0.25% to 4.25%, the highest rate in almost 15 years, following an unexpected rise in inflation last month. The move marks the 11th consecutive increase from the BoE and follows the jump in inflation to 10.4%…
Read More » -
16 MarchEconomy
Retailers welcome budget but ‘missed opportunity’ for rates reform
Retail has welcomed the support for households in the face of the cost of living crisis in the chancellor’s Spring Budget but some have criticised it as a “missed opportunity” for business rates reform. Headline measures announced by the chancellor included an increase in corporation tax to 25% for businesses…
Read More » -
15 MarchEconomy
Spring Budget: Corporation tax to rise to 25%
Corporation tax is set to rise from 19% to 25% for firms with profits over £250,000, as part of a number of measures announced in chancellor Jeremy Hunt’s Spring Budget. To help offset the corporation tax rise, Hunt also announced a provision of £9bn of “full capital expensing” which for…
Read More » -
10 MarchEconomy
UK GDP grows by 0.3% in January
Monthly gross domestic product (GDP) is estimated to have increased by a narrow 0.3% in January, with a faster recovery than expected, according to the latest figures released by ONS on Friday. The news comes after economists predicted the UK could go into recession, considering that in the three months…
Read More » -
Feb- 2023 -24 FebruaryEconomy
UK consumer confidence rebounds to highest level since April 2022
UK consumer confidence has bounced back in February to its highest level in almost a year, demonstrating consumers’ resiliency in the face of the cost of living issue. According to the report published by Research group GfK, its index of consumer confidence rose by seven points to -38. The index,…
Read More »
