Economy
The latest news, updates and analysis on the economy and how it is affecting the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Aug- 2022 -10 August
Heatwave helps boost retail sales 2.3% in July
Retail sales increased 2.3% in July as the heatwave experienced across the UK helped boost demand for “hot weather essentials”,…
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10 August
Deliveroo losses widen as Simon Wolfson steps down from board
Deliveroo has revealed its H1 pre-tax losses have widened to £147m from £95m the year prior and also confirmed that…
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9 August
Sharon White: Gov needs to get over 50s back into work to curb inflation
The boss of John Lewis has said the large number of over 50s who left the workforce during the pandemic…
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8 August
Women’s Euro and summer heatwave reduce online retail sales decline
Online retail sales growth dipped -2.3% year-on-year (YoY) in July 2022 as the Women’s Euro final and the summer heatwave…
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5 August
Tax cuts won’t solve economic crisis, says Next CEO
Simon Wolfson, the chief executive of fashion retailer Next, has claimed that inflationary pressures can only be tackled by increasing…
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4 August
BoE hikes rates to 1.75%, warns UK to enter recession until 2024
The Bank of England (BoE) has raised interest rates from 1.25% to 1.75%, marking the biggest rise in rates since…
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4 August
Footfall declines in July as north-south divide grows
Footfall weakened in July to -14.2% below 2019 from -12.3% in June 2022 with the month’s performance also highlighting the…
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4 August
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…
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4 August
ScS ups FY guidance as orders rise by 3.9%
ScS has upped its full-year guidance after its like-for-like order growth rose by 3.9% in the 52-week period ended 30…
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3 August
Hugo Boss hails strongest Q2 in its history
Hugo Boss has reported an operating profit of €100m (£83.4m) for Q2, over double the €42m (£35m) it recorded in…
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