The British Independent Retailers Association (BIRA) has said a report recently published which has showcased how the High Street has changed since 2020 is reflective of their findings.
The association, which works with over 6,000 independent businesses of all sizes across the UK, has reviewed the BBC analysis on data retrieved from the Ordnance Survey, and has confirmed the changes.
The report, which can be reviewed here, was compiled from 1.5 million records of mapping data, which shows a comprehensive quarterly survey of businesses, facilities and services operating in England, Scotland and Wales.
It has shown that the number of clothes shops dropped to 4,300 which was a fall of 8.5%, while more than 800 High Street banks and building societies also closed their doors during the pandemic.
Andrew Goodacre, CEO of BIRA said: "This report is interesting and conforms trends we have noticed over the past few years. There has been a growth in 'service retailing' and a decline in the traditional 'comparison goods retailer' - and the pandemic seems to have emphasised this change.
"The closure of large chains, and now banks, is well documented. We have seen many traditional indie retailers change their offer by including services - repairs, product hire and inclusion of cafes in the shop. We expect these changes to continue but we must remember that every vibrant high street needs diversity and should not be dominated by any particular sector," he said.
Mr Goodacre added: "A good high street is a series of inter-dependent businesses working together to create a great place to visit, and independent retail is absolutely integral to that future vision."
Supermarket Asda has announced the joining of Jo Whitfield in its board of directors as a Non-executive Director to support its turnaround plans.
Whitfield previously spent eight years at Asda from 2008 onwards, holding a number of senior positions in operations, e-commerce, commercial, general merchandise and money & mobile.
She then joined the Co-op, where she was Chief Executive of Food for five years from 2017. Until last year, she was the CEO at Matalan, leading a business turnaround strategy.
Asda noted that given her breadth of experience in the convenience market from her time at the Co-op, she will have a particular focus on supporting the growth of the group’s Express c-store chain.
In recent weeks, Asda’s new Chairman, Allan Leighton, has made several changes to the struggling retailer’s management team to support his strategy to return the chain to its traditional focus on value.
He is also reported to have restarted the group’s search for a Chief Executive, having operated without a permanent leader since the abrupt departure of Roger Burnley in August 2021.
At the end of January, Asda announced that it was cutting prices on over 4,000 products as part of a move to re-establish its value credentials and win back shoppers after a slump in its market share over the past year.
Commenting on his latest appointment, Leighton said, “Jo is one of the UK’s most experienced retail leaders and has a deep knowledge of the food retail, convenience and fashion markets.
"She also understands Asda’s DNA and the role this business plays in delivering value for hard-working families. We are delighted to welcome her back to Asda.”
Whitfield, who will join Asda shortly, added, “Asda is one of the biggest names in retail and plays an important role in the daily lives of millions of customers and communities throughout the UK.
"It is a business that I have a strong affinity with and I look forward to working with Allan and the rest of the leadership team to help Asda get back on track.”
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Pictured at the launch of the partnership is the culinary students with (centre back) Sean Owens, Ulster University, (front l to r) Michael Gillies, Ulster University, Laimis Minelga, Favourit and Favourit ambassador, Ian Hunter, Belfast Cookery School.
is celebrating a landmark 110 years in business in 2025. In the first of a series of plans to be revealed throughout the year, Favourit has announced that it is collaborating with Ulster University to create a special award for aspiring leaders in culinary arts.
As part of this partnership, Favourit’s ranges will be incorporated into a BSc Culinary Arts Management module, offering students the opportunity to showcase their creativity and culinary expertise using the Belfast-based food company’s range of herbs, spices and seasonings.
“Favourit is a Northern Ireland success story which has, over the last 110 years, consistently offered quality products which are available in stores across the island of Ireland and Great Britain," said Laimis Minelga, Marketing Executive at Favourit.
“In this very special anniversary year we wanted to partner with an established education institution that would allow us to work with and encourage young people to explore flavours more. The team from the Department of Hospitality Tourism and Events Management at Ulster University were on board from the get-go and it has been such a rewarding experience already.”
Throughout the Ulster University culinary arts module titled Contemporary Gastronomy, students will be challenged to create a complete menu – including a starter, main course, and dessert – with at least one Favourit product featured in each dish.
The highest-scoring student will receive a £1,000 bursary from Favourit, providing a valuable opportunity to further their culinary education or pursue their passion for food.
“This collaboration allows students to develop their culinary skills and explore the art of flavour pairing using our ranges which have over forty herbs, spices and seasonings," Minelga continued. "We’re proud to support young people that are passionate about food and to offer them a chance to win a bursary to further their culinary journey.”
Michael Gillies, Course Director and Lecturer Culinary Arts Management, Department of Hospitality Tourism and Events Management, Ulster University, said: “Our partnership with Favourit is an exciting and unique opportunity for students to work with an established, home-grown food brand that offers them an incredible range of products to work with. Using quality herbs and spices in their creations will give our aspiring culinary leaders numerous ways to show off their skills and to push the boundaries of flavour and innovation. Key when trying to get the best out of food.”
The Favourit 110th year celebration event will be held at Ulster University’s hospitality learning lab, The Academy Restaurant, where the next generation of hospitality professionals rehearse their management and leadership skills.
Laimis added: “There is no better place to hold our celebration dinner than at The Academy restaurant where Ulster University culinary arts management students created their dishes. The invited guests, which will include media, influencers, and trade professionals, will taste some of the students Favourit-inspired creations on the night, helping to showcase their considerable talents.”
Throughout 2025, Favourit is planning to make its 110th year a milestone for trade customers and consumers across the UK and Ireland. Keep up to date with the latest news by visiting their website, www.favouritfood.com, social media channels, www.instagram.com/favouritfoods/, https://www.facebook.com/favouritfoods, or call + 44 289 0267 080 for more information.
Bira (British Independent Retailers Association), which represents over 6,000 independent retail businesses across the UK, has warned that they face troubled times ahead despite today's Bank of England interest rate cut to 4.5 per cent, as the Bank halves its growth forecast for 2025 to just 0.75 per cent.
"The reduction in interest rates was expected and is welcome news for the retail sector," said Bira CEO Andrew Goodacre. "We have consistently maintained that rates have unnecessarily remained high for longer than required, and we anticipate this reduction will help boost consumer confidence."
However, Bira expressed serious concerns regarding the Bank's revised economic growth projections. The forecast has been halved from the previous estimate of 1.5 per cent to just 0.75 per cent for 2025, despite recent government initiatives.
Mr Goodacre said: "The Bank's economic growth outlook is deeply worrying. Independent retailers are still grappling with the triple impact of rising costs from last year's budget. While the Bank of England is taking steps to stimulate growth through rate cuts, more immediate action is needed from the government to support high street businesses."
Andrew Goodacre
The Bank's decision comes amid rising inflation expectations, with projections showing inflation could reach 3.7 per cent in the third quarter of this year. Additionally, unemployment is forecast to increase to 4.8 per cent over the next year, highlighting the challenging economic environment facing retailers.
Bira emphasises that while long-term infrastructure projects are important, immediate support for high street businesses is crucial.
"Long-term projects like the third runway at Heathrow will do little to address the immediate challenges facing high street retailers this year. We need to see concrete government plans that will deliver immediate support to our sector," added Goodacre.
Danish brewer Carlsberg said Thursday that it returned to profit in 2024 thanks in part to completing the sale of its Russian subsidiary.
Like many Western companies Carlsberg sought to pull out of Russia after it invaded Ukraine in February 2022, but it was only in December 2024 that it was able to complete a sale of the Baltika brewery.
The amount of the transaction was not disclosed in December, but the company's annual statement indicated that Carlsberg received 2.3 billion kroner (£258 million) for Russia's largest brewer.
Carlsberg, the world's fourth-largest beer group, posted a net profit of 9.1 billion kroner for 2024, after having posted a loss of 40.8 billion kroner in 2023, due in large part to Moscow having seized Baltika.
Sales rose by two percent to 75 billion kroner, just surpassing the analyst forecast of 74.98 billion kronor established by Bloomberg.
Sales volume remained stable at 101 million hectolitres.
Carlsberg is targeting an increase of one to five percent in operating profit.
“Given the challenging environment in some of our major markets, which impacted the volume development, we’re satisfied with our solid 2024 results,” Jacob Aarup-Andersen, chief executive, said.
“The commitment and passion of our people and the resilience of our business enabled us to deliver top-line growth, increase commercial investments and achieve organic operating profit growth at the high end of our guidance, which we upgraded in August.”
2024 has been a year of major events for Carlsberg, with the acquisition of Britvic, the buyout of its partner in India and Nepal and the expanded partnership with PepsiCo in Kazakhstan and Kyrgyzstan.
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Bottles of Ricard, aniseed-flavoured beverage, are displayed on shelves in a supermarket in Chanverrie, France, October 16, 2024
Tariffs imposed by China and the United States could deal an estimated €200 million (£167m) blow to Pernod Ricard's business annually, finance chief Helene de Tissot said on Thursday.
China has already imposed temporary tariffs on European brandy imports, hurting Pernod's sales of its Martell cognac brand. The impact of tariffs, which could become permanent, forced Pernod to cut its outlook for 2025 and beyond on Thursday.
The world's second-largest spirits maker now anticipates a low single-digit decline in organic net sales.
US president Donald Trump has also threatened 25 per cent tariffs on goods from Mexico and Canada, as well as impose levies on the European Union, which would affect a range of Pernod products from Jameson Irish whiskey to Codigo 1530 tequila.
Altogether, assuming a 10 per cent US tariff on the EU, that could have an annual impact of €200m on Pernod, de Tissot told analysts on Thursday's results call, adding around €130-140m of that was related to Chinese cognac duties.
About 50 per cent of the total could be offset via mitigation measures, de Tissot continued, some of which have already been implemented in China.
Earlier this week Diageo, the world's top spirits maker, estimated an around $200m (£161m) blow from US tariffs for the last four months of its current financial year.
Pernod reported a 4 per cent organic sales decline in the first half of fiscal year 2025, with reported sales down 6 per cent to €6.17bn. While seeing sequential improvement in the second quarter and strong performances in some mature and emerging markets, the company cited a declining but improving US market and a continuing weak performance in China as key factors affecting results. Volume was up, but price/mix was down 6 per cent largely due to market mix, the company said.
Despite the sales decline, Pernod managed to expand its organic operating margin by 65 basis points in the first half, reaching 32.1 per cent.
Looking ahead, Pernod anticipates fiscal year 2026 will be a transition year with improving trends in organic net sales, conditional on the challenges posed by the global tariff environment. The company aims to defend its organic operating margin during this period and improve cash conversion. From fiscal year 2027 to 2029, Pernod projects stronger organic net sales growth, targeting an average range of 3 to 6 per cent, alongside organic operating margin expansion.
The company reiterated its commitment to maintaining consistent brand investment, targeting approximately 16 per cent of net sales for advertising and promotion, while remaining agile and responsive to market opportunities.
Pernod also plans to continue its efficiency initiatives, targeting approximately €1bn in savings from fiscal year 2026 to 2029.