Ukraine
This coverage examines how events in Ukraine affect the UK retail sector, focusing on supply chain disruption, commodity prices, consumer sentiment, and corporate responses. Reporting highlights how retailers adapt operations and strategy to mitigate risks and navigate challenges arising from the conflict — offering insight for executives, managers, and professionals making decisions in a volatile global context.
-
Mar- 2022 -17 MarchEconomy
BoE raises interest rates to 0.75%
The Bank of England has raised interest rates back to the pre-pandemic level of 0.75% as it tries to mitigate the effect of the rising costs of living and the impact that the conflict in Ukraine is having on the global economy. The Monetary Policy Committee (MPC) voted with a…
Read More » -
17 MarchNews
Deliveroo losses widen to £298m despite surging revenues
Deliveroo has announced a loss before income tax of £298m in comparison to £213m in 2020 during its FY21. According to the company this was due to increased marketing and staff costs as well as a reduction in relief grants introduced in 2020 as a consequence of the impact of…
Read More » -
17 MarchClothing & Shoes
Prada FY21 revenues spike 41% to €3.36bn
Prada S.p.A has reported its revenues increased 41% year-on-year to €3.36bn (£2.82bn) in the full year ending 31 December 2021, also up 8% from pre-Covid levels. The group’s net income hit €294m (£246.4m) and EBIT grew to €489m (£409.83m). Prada also revealed its online sales surged 61% year-on-year, five times…
Read More » -
17 MarchEconomy
Retail insolvencies surge 21% amid supply chain issues
Data recently released by the Insolvency Service has shown that insolvencies amongst retailers businesses have surged in the past year as the UK’s supply chain problems continue to worsen. In the past 12 months, insolvencies of UK retailers have risen 21% from 827 in 2020/21 to 997 in 2021/22. Problems…
Read More » -
16 MarchClothing & Shoes
Inditex FY21 profits surge 199% despite Omicron impact
Inditex, the parent company of Zara, has reported its income before tax surged 199% to €4.19bn (£3.53bn) between 1 February 2021 and 31 January 2022 (FY21), rising year-on-year from €1.4bn (£1.17bn). Net income also surged 193% to €3.2bn (£2.73bn) compared to €1.1bn (£9.29m) in FY20. Additionally, sales increased 36% year-on-year…
Read More » -
16 MarchHigh Street
Retail sales monitor shows ‘cause for optimism’, Bira says
The British Independent Retailers Association (Bira) has said there is “cause for optimism” after the recent BRC-KPMG retail sales monitor for February 2022 which revealed that UK retail sales increased 2.7% on a Like-for-like basis from February 2021. According to the BRC the performance comes on top of an improved…
Read More » -
15 MarchSupermarkets
Aldi offers employment to refugees from Ukraine
Aldi has announced it is welcoming applications from Ukrainian refugees with over 8,000 roles available, subject to their eligibility for UK employment. The vacancies span a range of roles including assistant store manager, store assistant, stock assistant, selector, logistics assistant, as well as other office-based administration roles. Overall, Aldi has…
Read More » -
15 MarchClothing & Shoes
H&M hails Q1 sales growth of 23%
The H&M Group has reported a net sales increase of 23% in the first quarter of FY22, hitting SEK 49.16bn (£39.32bn) from 1 December 2021 to 28 February 2022 (Q1). Additionally, net sales in local currencies grew year-on-year by 18% in the quarter. In its previous full-year results for FY21,…
Read More » -
14 MarchNews
H. Samuel owner donates £766k to Red Cross Ukraine
Signet Jewelers Limited, the owner of H .Samuels, has announced the foundation will donate £766k to the Red Cross Ukraine humanitarian relief efforts, through its global network. Signet has also suspended business interaction with Russian-owned entities since the beginning of the invasion, in unity with all those in the world…
Read More » -
11 MarchNews
Lush suspends supplies to Russia
Lush has suspended supplies to its Russian licensee and stopped online sales in the country, despite the fact its 48 stores in the region will remain open due to a legal agreement with its licensee. In order to secure the business, the retailer is now in the process of acquiring…
Read More »
