Latest news with #NationalLivingWage
Fashion Network
21 hours ago
- Business
- Fashion Network
As shoppers cut discretionary spend, May retail sales disappoint
Five months of positive sales came to an end in May with the latest BDO High Street Sales Tracker on Friday showing that total like-for-like discretionary sales fell by 1.2%. In-store sales all-but-flatlined with just a 0.5% increase, failing to keep up with inflation, while online sales dropped by 3.1%, highlighting a substantial drop in volumes. The overall monthly fall of 1.2% was in sharp contrast to a 2.3% increase this time last year with BDO saying that the decline was driven in part by that fall in non-store retail sales. This was the first negative result in e-sales since March 2024, outside of Black Friday in November last year. All discretionary categories saw poor performances in May. Indicators were well below inflation, suggesting that retail businesses are feeling the bite of the cost increase in their overheads. Overall fashion sales were down 2% from a base of a 5.6% a year ago, the latest drop being largely due to a significant downturn in fashion sales online, which fell by 4.5% compared to the same month last year. Elsewhere, the homewares sector saw sales fall by 3.1% from a negative base of 2.6% in May 2024. It was also the third consecutive month of negative online homewares sales (-10.8%). Sophie Michael, head of retail and wholesale at BDO, said it was a 'hugely disappointing set of results for the retail sector as we head into the summer months. Retailers have been predicting the inflationary cost challenges for some time and, unfortunately, we're now seeing them have a real impact. 'The steep fall in non-store sales shows just how difficult it has become for retailers to offer the big discounts that typically drive online sales. With mounting cost pressures from inflation, higher wages and increased operating costs, many are simply unable to cut prices on their products. As a result, volumes are down across every category and channel, with both in-store and non-store sales falling well below the rate of inflation on a like-for-like basis, while the absolute growth figure in online even falling into negative territory.' She added that National Insurance changes, increases to the National Living Wage, packaging tax and higher business rates are 'all bedding in now. At the same time, consumer confidence has dropped to its lowest level in five years, with people pulling back on discretionary spending'.
Fashion Network
21 hours ago
- Business
- Fashion Network
As shoppers cut discretionary spend, May retail sales disappoint
Five months of positive sales came to an end in May with the latest BDO High Street Sales Tracker on Friday showing that total like-for-like discretionary sales fell by 1.2%. In-store sales all-but-flatlined with just a 0.5% increase, failing to keep up with inflation, while online sales dropped by 3.1%, highlighting a substantial drop in volumes. The overall monthly fall of 1.2% was in sharp contrast to a 2.3% increase this time last year with BDO saying that the decline was driven in part by that fall in non-store retail sales. This was the first negative result in e-sales since March 2024, outside of Black Friday in November last year. All discretionary categories saw poor performances in May. Indicators were well below inflation, suggesting that retail businesses are feeling the bite of the cost increase in their overheads. Overall fashion sales were down 2% from a base of a 5.6% a year ago, the latest drop being largely due to a significant downturn in fashion sales online, which fell by 4.5% compared to the same month last year. Elsewhere, the homewares sector saw sales fall by 3.1% from a negative base of 2.6% in May 2024. It was also the third consecutive month of negative online homewares sales (-10.8%). Sophie Michael, head of retail and wholesale at BDO, said it was a 'hugely disappointing set of results for the retail sector as we head into the summer months. Retailers have been predicting the inflationary cost challenges for some time and, unfortunately, we're now seeing them have a real impact. 'The steep fall in non-store sales shows just how difficult it has become for retailers to offer the big discounts that typically drive online sales. With mounting cost pressures from inflation, higher wages and increased operating costs, many are simply unable to cut prices on their products. As a result, volumes are down across every category and channel, with both in-store and non-store sales falling well below the rate of inflation on a like-for-like basis, while the absolute growth figure in online even falling into negative territory.' She added that National Insurance changes, increases to the National Living Wage, packaging tax and higher business rates are 'all bedding in now. At the same time, consumer confidence has dropped to its lowest level in five years, with people pulling back on discretionary spending'.
Fashion Network
21 hours ago
- Business
- Fashion Network
As shoppers cut discretionary spend, May retail sales disappoint
Five months of positive sales came to an end in May with the latest BDO High Street Sales Tracker on Friday showing that total like-for-like discretionary sales fell by 1.2%. In-store sales all-but-flatlined with just a 0.5% increase, failing to keep up with inflation, while online sales dropped by 3.1%, highlighting a substantial drop in volumes. The overall monthly fall of 1.2% was in sharp contrast to a 2.3% increase this time last year with BDO saying that the decline was driven in part by that fall in non-store retail sales. This was the first negative result in e-sales since March 2024, outside of Black Friday in November last year. All discretionary categories saw poor performances in May. Indicators were well below inflation, suggesting that retail businesses are feeling the bite of the cost increase in their overheads. Overall fashion sales were down 2% from a base of a 5.6% a year ago, the latest drop being largely due to a significant downturn in fashion sales online, which fell by 4.5% compared to the same month last year. Elsewhere, the homewares sector saw sales fall by 3.1% from a negative base of 2.6% in May 2024. It was also the third consecutive month of negative online homewares sales (-10.8%). Sophie Michael, head of retail and wholesale at BDO, said it was a 'hugely disappointing set of results for the retail sector as we head into the summer months. Retailers have been predicting the inflationary cost challenges for some time and, unfortunately, we're now seeing them have a real impact. 'The steep fall in non-store sales shows just how difficult it has become for retailers to offer the big discounts that typically drive online sales. With mounting cost pressures from inflation, higher wages and increased operating costs, many are simply unable to cut prices on their products. As a result, volumes are down across every category and channel, with both in-store and non-store sales falling well below the rate of inflation on a like-for-like basis, while the absolute growth figure in online even falling into negative territory.' She added that National Insurance changes, increases to the National Living Wage, packaging tax and higher business rates are 'all bedding in now. At the same time, consumer confidence has dropped to its lowest level in five years, with people pulling back on discretionary spending'.
South Wales Argus
a day ago
- Business
- South Wales Argus
National Minimum Wage breaches found at firms in Wales
The government announced that these businesses were part of a group of 518 across the UK that failed to pay their workers more than £7.4 million collectively, leaving nearly 60,000 workers out of pocket. The businesses, which included Mini Me Private Day Nursery in Newport, Barry Tyre Centre and SWBC in Caerphilly, have since repaid their staff and faced financial penalties of up to 200 per cent of their underpayment. Other businesses named and shamed include Shuko in Monmouthshire, Playworks Childcare in Caerphilly, P.B Services (Wales) Limited in Pontypridd, APC Panels, Holton Road Stores, Classic Decorators (UK), all in the Vale of Glamorgan, and Sage Hair Care and AFH Ltd, both in Cardiff. Further west, Andrew Milward Joinery in Pembrokeshire, MRB Cleaning Limited and Lakeside Day Nursery Limited, both in Swansea also join the list. Other Welsh businesses include M&C Jones Building Contractors Limited and The Wild Pheasant, both in Denbigshire, Buck House Hotel in Wrexham, Soughton Shoot Limited iS & S Care (UK) Limited, both in Flintshire, and Maner Hotel in Powys, The investigations by HMRC concluded between 2015 and 2022. The government said this was part of its latest move to "Make Work Pay" following a significant uplift to the National Living Wage and National Minimum Wage. This uplift is set to put £1,400 into the pockets of full-time workers on the National Living Wage. The National Living Wage for those aged 21 and over will rise from £11.44 to £12.21. Minister for Employment Rights, Justin Madders, said: "There is no excuse for employers to undercut their workers, and we will continue to name companies who break the law and don't pay their employees what they are owed. "Ensuring workers have the support they need and making sure they receive a fair day's pay for a fair day's work is a key commitment in our Plan for Change. "This will put more money in working people's pockets, helping to boost productivity and ending low pay."
BBC News
2 days ago
- Business
- BBC News
NI employers named for not paying staff minimum wage
Twenty-eight businesses in Northern Ireland have been named for failing to pay their employees the minimum wage, according to the Department for Business and Trade (DBT).This comes after a significant uplift to the National Living Wage and National Minimum Wage came into effect in department said 518 employers across the UK have been ordered to repay workers over £7.4 million after nearly 60,000 workers have been left out of includes 28 employers in Northern Ireland. The businesses have since paid back what they owe to their staff and faced financial penalties of up to 200% of their for Employment Rights Justin Madders said: "There is no excuse for employers to undercut their workers, and we will continue to name companies who break the law and don't pay their employees what they are owed.""This will put more money in working people's pockets, helping to boost productivity and ending low pay," he added. What are the National Living Wage and National Minimum Wage? The National Living Wage went up from £11.44 an hour to £12.21. The government said the increase was worth £1,400 a year for an eligible full-time National Living Wage has applied to employees aged 21 and over since April 2024. Previously, you had to be pay rates are set by the government every year on the advice of an independent group, the Low Pay CommissionYounger employees - aged between 16 and 20 - receive the National Minimum 18, 19 and 20-year-olds, it rose from £8.60 an hour to £10 on 1 government said the increase is worth £2,500 for an eligible full-time 16 and 17-year-olds, the National Minimum Wage rose from £6.40 an hour to £7.55, an 18% separate apprentice rate, which applies to eligible people under 19 - or those over 19 in the first year of an apprenticeship increased by the same amount. The NI Businesses from the DBT 1. Property Management Services NI Limited in Belfast - 414 employees owed an average £136 per worker2. Elliot's auto engineering in North Antrim - 1 employee owed over £17,0003. Winemark in North Belfast - 186 employees owed over £844. Benedicts in south Belfast - 391 employees owed £375. Philip Russell Limited in Belfast - 111 employees owed £946. Regency Hotel in Belfast - 201 employees owed £997. Wine Inns Ltd in Belfast - 103 employees owed £908. Building Blocks Day nursery in Mid ulster - 45 employees owed £1239. City Office NI Ltd - 2 employees owed £1,80010. Whistledown Hotel in South Down - 46 employees owed £4611. RJ Ferguson in Mid Ulster - 3 employees owed £67012. CPM Electrical in Fermanagh- 4 employees owed £48413. The Village store in West Tyrone - 1 employee owed £172514. Spice restaurant in Lagan Valley - 3 employees owed £55215. R Loughlin Electrical in west Tyrone - 3 employees owed £51416. Annavale Joinery Works - 4 employees owed £36617. Colemans Garden Centre - 35 employees owed £4118. McAleer and McGarrity in Mid Ulster - 2 employees owed £60319. Trinity Park Nursery - 17 employees owed £6020. Birdies Day nursery - 8 employees owed £10221. The Sooty Olive in Derry - 33 employees owed £2422. Kids Korner nurseries in Belfast - 23 employees owed £3323. Safe Gas NI Ltd - 1 employee owed £63924. Kanto Stranmillis Ltd - 1 employee owed £59025. Happy Children Nursery in Strangford - 12 employees owed £4726. Euro Hand car wash - 7 employees owed £7627. Ardmore Pre-cast concrete Ltd - 1 employee owed £52528. Timberquay Ltd in Derry - 14 employees owed £16
