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.
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Aug- 2022 -4 AugustEconomy
Zalando to return to growth in H2 despite Q2 profit fall
Zalando, the online fashion retailer, has revealed it expects to return to growth in H2 despite seeing a 58% drop in its Q2 operating profits to €77.4m (£64.7m), down from €184.1m (£153.3m) in the same period last year. However, the Q2 performance marks a rebound from a Q1 loss of…
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Jul- 2022 -13 JulyEntertainment
Lego ‘indefinitely’ halts operations in Russia
Lego will cease its commercial operations in Russia after previously pausing shipments to the country back in March. In a statement to Retail Sector, a spokesperson said: “The LEGO Group paused shipments to Russia in March. Given the continued extensive disruption in the operating environment, we have decided to indefinitely…
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11 JulyClothing & Shoes
Levi Strauss & CO revenues jump 15% to £1.25bn
Levi Strauss and Co has revealed its net revenues climbed 15% to $1.5bn (£1.25bn) in its second quarter after global direct-to-consumer sales rose by 16%. In the three month period ended 26 May, the group also reported strong growth in its company-operated store sales which increased by 23%. The second…
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8 JulyEconomy
Superdrug sees profits surge 5% to £45m
Superdrug has revealed its full-year profit before tax has increased 141.3% to £45.3m, compared with £18.8m the previous year for the 53-week period ended 1 January 2022. It comes as it revealed its full-year revenues also increased 5.1% to £1.168bn, compared with £1.11bn in 2020 for the 53 week period…
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4 JulyNews
St. Eval receives Queen’s Award from Lord Lieutenant of Cornwall at factory opening
St. Eval’s Queen’s Award for Enterprise in Sustainable Development was conferred upon the team at this factory opening, presided over by the Lord Lieutenant of Cornwall and the Chairman of the Council and presented to owner and creative visionary Sarah Young-Jamieson. Being awarded a Queen’s Award for Enterprise in Sustainable…
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Jun- 2022 -29 JuneHigh Street
H&M Group profits surge amid high street resurgence
H&M Group has revealed its gross profits increased by 52.2% to £4.36bn in the six months to 31 May. Profits after tax increased by 33% to £390m in the second quarter, on the back of a 17% rise in sales to £4.47bn, excluding Russia, Belarus and Ukraine sales. Net sales…
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23 JuneClothing & Shoes
Nike to quit Russia after Ukraine invasion
Sportswear brand Nike has revealed it will fully pull out of Russia three months after suspending its business in the country due to the Ukraine war. It said it will scale down its operations in Russia over the “coming months”, having announced a temporary suspension on 3 March. It marks…
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21 JuneEconomy
Quarter of UK retailers four weeks from collapse, survey finds
More than a quarter of UK retailers are just four weeks away from going bust due to supply chain issues, according to a Brightpearl survey. The results of the survey of 500 UK retailers, found that 85% of retailer businesses have been hit by supply chain issues in the last…
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17 JuneDIY
Ikea to sell Russian factories as it scales down operations
Ikea has announced that it will start the process of finding new ownership for all four of its factories in Russia, and will sell out its home furnishing inventory in the country, as Ikea enters a new phase to scale down business in Russia and Belarus. On 3 March, Ikea…
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16 JuneEconomy
BoE raises interest rates to 1.25%
The Bank of England’s (BoE) Monetary Policy Committee has voted to raise interest from 1% to 1.25% – marking its fifth rise in a row as it bids to offset the impact of rising inflation. The Monetary Policy Committee voted by a majority of 6-3 to increase the rate to…
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