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 -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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2 August
Women’s Euros final win boosts footfall post-match
High street footfall across the UK on Sunday was up by 4.4% against the previous week during shopping hours, as…
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Jul- 2022 -28 July
Virgin Wines revenue up 63% on pre-Covid levels
Online wine retailer, Virgin Wines, has revealed that the company’s revenue is up 63% on a three-year, pre-Covid basis, compared…
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26 July
Wickes downgrades outlook despite strong Q2 sales
Wickes has downgraded its full-year outlook after signs of “softening” in DIY and DIFM markets in recent weeks, despite the…
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25 July
Retail accounts for 10% of UK administrations in 2022, study finds
The retail sector accounted for 10% of administrations in the first six months of the year – the third highest…
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25 July
Naked Wines CFO departs amid sales warning
Naked Wines has announced that Shawn Tabak, chief financial officer and director, has left the company by mutual decision, effective…
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