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Retailers Hit By £5.6bn Of Costs As Budget Bites

Summary by kamcity.com
UK retailers face a £5.6bn surge in costs this financial year – equivalent to 195,000 full-time retail jobs – forcing the industry to ramp up prices, cut costs, and take a profit hit, according to new analysis from research consultancy (more…) The post Retailers Hit By £5.6bn Of Costs As Budget Bites appeared first on KamCity.
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Retail SectorRetail Sector

Today's news in brief-1/4/25

Retailers are bracing for a £5.56bn rise in costs following the implementation of recent Budget measures, including higher National Insurance contributions and an increased minimum wage. According to Retail Economics, these changes will force businesses to absorb £1.76bn in profit losses while passing £1.72bn onto consumers through price hikes. Chancellor Rachel Reeves opted against providing relief for retail, hospitality, and leisure sectors, …

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kamcity.comkamcity.com

Retailers Hit By £5.6bn Of Costs As Budget Bites

UK retailers face a £5.6bn surge in costs this financial year – equivalent to 195,000 full-time retail jobs – forcing the industry to ramp up prices, cut costs, and take a profit hit, according to new analysis from research consultancy (more…) The post Retailers Hit By £5.6bn Of Costs As Budget Bites appeared first on KamCity.

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DrapersDrapers

Budget costs retailers £5.6bn

Drapers Budget costs retailers £5.6bn UK retailers face a £5.6 billion surge in costs this financial year, new analysis shows.The post Budget costs retailers £5.6bn appeared first on Drapers.

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Drapers broke the news in on Tuesday, April 1, 2025.
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