Taxation
This coverage examines taxation policies, proposals, and changes affecting the UK retail sector. Reporting highlights business rates, corporate tax developments, VAT issues, and government initiatives with implications for retail operations and profitability. Designed for retail executives, finance managers, and decision-makers, the content provides insight into how taxation trends influence cost structures, compliance obligations, and strategic planning.
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Feb- 2025 -10 FebruarySupermarkets
UK retailers still facing ‘mountain of costs’, M&S CEO warns
M&S CEO Stuart Machin has warned that UK retailers are still facing a mountain of costs despite Rachel Reeve’s push for growth. Writing in the Sunday Times, Machin said that the government should lighten “the burden” the budget has loaded on the retail sector, claiming that the industry is being…
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Jan- 2025 -9 JanuaryDepartment Stores
M&S celebrates bumper Xmas as sales top £4bn
M&S has reported a successful Christmas trading update as its total group sales increased by 5.6% to £4bn in the 13 weeks to 28 December 2024. The group’s food sales increased 8.7%, with LFL sales up 8.9%. Core categories, such as meat, produce, grocery and in-store bakery grew double-digits as…
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Nov- 2024 -21 NovemberComment
Third spaces: The changing face of retail outlets
Nicky Lovell, Head of Outlets and Retail Business Development at Global Mutual, embodies the transformation of retail over the past few decades. From her beginnings as a buyer at Selfridges to leading a portfolio of outlet centres across the UK, Lovell has witnessed and influenced the evolution of shopping destinations,…
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20 NovemberNews-In-Brief
Today’s news in brief-20/11/24
Ted Baker has re-entered the online retail scene with a UK-exclusive ecommerce platform following its financial collapse earlier this year. The site is operated by United Apparel and Legwear (ULAC), appointed by Authentic Brands Group, which owns the brand. European versions are in development. This marks a strategic pivot after…
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20 NovemberHigh Street
Ann Summers receives £5m cash injection from owners
Ann Summers had reportedly received a cash injection from its owners, the Gold family, with the aim of mitigating its widening losses, according to The Telegraph. Chairman Vanessa Gold, who took over the role after the death of sister Jacqueline Gold, reportedly initiated a £5m cash call to help the…
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May- 2024 -9 MayLuxury Goods
Watches of Switzerland acquires Roberto Coin
Watches of Switzerland Group has signed and completed the acquisition of the entire share capital of Roberto Coin Inc. for a total cash consideration of $130m (£104.2m) Roberto Coin S.p.A., founded in the Italian city of Vicenza, designs and manufactures delicately handcrafted jewellery with a unique ruby signature under the…
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Apr- 2024 -15 AprilFeatures
Navigating the tax system: a guide for retailers
Taxes are an inevitable aspect of running a retail business in the UK, shaping financial decisions and operational strategies. Business tax rates, including corporation tax, VAT, and business rates significantly impact the profitability and sustainability of retail businesses. Understanding the nuances of business tax rates is essential for retailers to…
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Mar- 2024 -28 MarchClothing & Shoes
Quiz CEO steps down as sales dip
Quiz has revealed that founder and CEO Tarak Ramzan is stepping down from his role with immediate effect as UK sales continue to be impacted by “subdued levels of traffic” in-store and online. Ramzan, as the largest shareholder of the company, will assume a non-executive director role. Having founded the…
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25 MarchEconomy
Scottish retailers’ rates bills to rise by £31m, the SRC says
Shops in Scotland will see their annual business rates bills rise by £31m from next week, the Scottish Retail Consortium announced. The change follows the decision in the Scottish Government’s Budget to increase the business rate for firms occupying 22,120 medium-sized and larger commercial premises by 6.7% in 2024-25. This…
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Feb- 2024 -23 FebruaryEconomy
Consumer confidence falls in February
UK consumer confidence dropped two points in February to -21, according to GfK’s long-running index. The survey revealed that four measures were down and one was unchanged in comparison to last month’s announcement. The index measuring changes in personal finances during the last year was down two points at -14.…
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