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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Jun- 2022 -8 JuneClothing & Shoes
Inditex profits surge 80% to £647.7m
The Inditex Group has reported that its profits increased 80% year-on-year to €760m (£647.7m) in the period ended 1 February to 30 April 2022 (Q1), amid a “sharp” recovery in store traffic and a “good” reception for all seven brands’ new season collections. However, the group made a provision of…
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May- 2022 -26 MayHigh Street
Nike to consider exiting Russia after not renewing main franchise deal
Nike is reportedly considering exiting Russia permanently after not renewing its franchise agreement. According to reports first revealed by The Vedomosti Daily, the news comes after the sports giant didn’t renew its agreement with Inventive Retail Group, which owns Russia’s largest chain of retail stores. IRG president Tikhon Smykov reportedly…
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25 MayDepartment Stores
Marks and Spencer warns of profit squeeze as it exits Russia
Marks and Spencer (M&S) has revealed it expects its profits to flatline in the upcoming financial year as the rising cost of living coupled with increased costs are expected to impact its trading. It comes as it also announced its decision to permanently exit Russia after temporarily suspending trading in…
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20 MayNews
Sainsbury’s to remove Russian diesel from petrol stations
Sainsbury’s has pledged to stop selling Russian diesel from its petrol stations by the end of 2022, following calls from its customers, according to the Evening Standard. The supermarket confirmed the commitment on Thursday (19 May) to halt respective sales across its 315 petrol forecourts, in line with the UK’s…
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17 MayNews
McDonald’s to permanently exit Russia after 30 years
McDonald’s Corporation has announced it will permanently exit the Russian market after more than 30 years of operations in the country, and it has initiated a process to sell its Russian business. McDonald’s said the humanitarian crisis caused by the war in Ukraine, and the precipitating unpredictable operating environment, had…
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12 MayClothing & Shoes
Hotter Shoes boosts Unbound Group’s Q1
The Unbound Group, which owns a stable of brands aimed at the 55+ demographic, has hailed a strong performance from its footwear brand Hotter Shoes for its Q1 period ending 4 February. The retail group said Hotter delivered a double-digit increase in revenue against the comparator period last year as…
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11 MayEconomy
Rising cost of living dents April retail sales
Retail sales decreased by 0.3% in April compared with the year prior, marking the first decline in 15 months as the rising cost of living starts to affect shoppers’ spending habits. According to the latest data from the British Retail Consortium (BRC) and KPMG’s retail sales monitor covering the four…
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11 MayHealth & Beauty
Beauty Bay drafts in advisors after IPO stalls
Online beauty platform Beauty Bay has reportedly hired bankers to explore options for the group after plans for its IPO stalled. According to Sky News, it has drafted in US-based Threadstone Capital, which previously advised Cult Beauty on its sale to THG, to advise it. Sources told Sky that options…
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10 MayDIY
Ikea stores to receive €3bn investment by end of next year
Ingka Group is set to accelerate its expansion by investing more than €3bn (£2.57bn) in new and existing Ikea stores by the end of next year to help make Ikea more accessible for customers. It said the investment reflects the ongoing retail transformation and the company’s “unchanged determination to get…
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5 MayNews
BoE raises interest rates to highest level since 2009
The bank of England (BoE) has raised interest rates to its highest level since 2009 – marking the fourth time it has taken action since December. The new rate of 1%, up from 0.75%, is the BoE’s latest attempt to curb the rampant rise in inflation – also at its…
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