There was a surprise contraction in retail sales in December, although this month is key for many retailers due to Christmas shopping, according to official figures. Retail sales fell by 0.3% last month, according to the Office for National Statistics (ONS). No decline was expected, including a drop of 0.3%. Economists forecast sales growth of … Read more
Nearly 170,000 retail workers lost their jobs this year after the collapse of major chain stores, according to data. This is the highest since more than 200,000 jobs in the sector were lost in 2020 in the wake of the crisis. COVID pandemic, which forced retailers to close their stores during lockdowns. The figures, compiled … Read more
Retail giants including Asda, Marks & Spencer, Primark and Tesco will host a New Year’s campaign to warn Rachel Reeves that plans to increase business rates in department stores will put jobs and workers at risk. stores. Sky News has learned that some of Britain’s biggest chains – which also include J Sainsbury, Morrisons and … Read more
The governor of the Bank of England said industry lobby group the British Retail Consortium (BRC) was right to warn of job losses resulting from the Budget. There is a “risk” of rising unemployment due to increases in employers’ national insurance contributions and increases to the minimum wage announced by Chancellor Rachel Reeves last month, … Read more