UK lost 6,000 store fronts due to covid and ‘crippling’ business rates July 28, 2023 Britain has lost 6,000 storefronts in five years amid Covid and cost-of-living pressures and “crippling” business rates, according to figures. The overall vacancy rate increased to 13.9 per cent across Britain in the second quarter of this year, a 0.1 percentage point drop on the first quarter but 0.1 points up on the same period [...]
Food inflation reaches 14.5 per cent and looks set to remain high, new data reveals March 1, 2023 Food inflation reached a staggering new high of 14.5 per cent in February, according to new data, with retail groups predicting that prices will continue to rise over the coming months. While inflation more broadly has started to come down, food inflation soared to 14.5 per cent in February, up from 13.8 per cent the [...]
Food inflation cools but Russia’s exit from grain deal poses threat to prices August 29, 2023 Food inflation cooled once again in August, new figures out today show, in a sign that cost of living pressures in the UK are gradually starting to ease. Food inflation fell to 11.6 per cent in August, down from 14.3 per cent in July, according to fresh figures from the British Retail Consortium (BRC). However, [...]
FTSE 100 close: London markets storm to two week high August 29, 2023 London’s premier index stormed to a two week high thanks as falling food inflation and hopes of a Chinese stimulus package lifted sentiment. The bluechip FTSE 100 ended 1.7 per cent higher at 7,464.99 while the midcap FTSE 250 rose 1.9 per cent to 18,468.59. Many markets around the world saw strong trading yesterday, when [...]
UK retail sales pick up as summer finally heats up August 6, 2024 Retail sales returned to growth in July after the long-awaited summer boost for retail finally arrived along with the warmer weather. Total retail sales increased by 0.5 per cent year on year in July, up from the three-month average growth rate of 0.3 per cent, according to the British Retail Consortium (BRC)-KPMG Retail Sales Monitor [...]
London footfall takes costly hit as rail strikes wreak havoc on Christmas trade December 6, 2023 Footfall across greater London declined by -8.3 per cent on Tuesday as rail strikes led shoppers to steer clear of the high street, spelling more misery for the capital’s retailers amid the vital Christmas period. According to the latest reading from MRI Software, Tuesday was the most impacted day so far, with footfall in central [...]
Retail sales growth exceeds expectations on back of Black Friday December 22, 2023 Retail sales grew stronger than expected last month as shoppers snapped up Black Friday bargains and bought Christmas presents, according to official figures. The Office for National Statistics (ONS) revealed that retail sales volumes increased by 1.3 per cent in November. It was ahead of the predictions of economists, who had forecast 0.4 per cent [...]
Retail groups call for business rates reform to save Britain’s high streets April 17, 2023 Retail and hospitality groups have called for urgent reform of business rates, which are contributing to shop closures and job losses. “Retail accounts for 5 per cent of the economy but pays more than one-fifth of business rates,” Helen Dickinson, British Retail Consortium (BRC) chief executive, said. “The overall industry tax take is unsustainably high [...]
More retail misery as Brits’ spending shrinks to lowest level in three years June 4, 2024 May proved to be another miserable month for retailers, as cash-strapped Brits said no to treating themselves in the face of rising bills and unfavourable weather.
Jump in business rates could be ‘final nail in coffin’ for many pubs and shops, sector warns October 18, 2023 The chief executive for UKHospitailty said the latest inflation reading and could be a “final nail in the coffin" for many businesses