1. Comment
November 30, 2020

Extended opening hours will help some but not all retailers recover losses from Covid-19

By MarketLine  

Shopping hours will be extended across UK highstreets to encourage consumer to visit stores across December and January.

Free Report
img

Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

Large retailers see value in extending open hours

A request for local councils to allow businesses on every high street to stay open later from Monday to Saturday will create an opportunity for retailers to trade before Christmas and through to January.

Retailers expect relaxed opening hours will help them achieve more sales during a crucial period and create a more pleasant shopping experience for consumers who won’t have to navigate through crowded stores.

Primark had already announced it will keep 11 of its stores in England open 24/7 after lockdown restrictions are lifted 2 December. Without an online presence, the UK retailer is desperate to re-open stores and make the most of what is usually its busiest time of the year. Owner of Primark, Associated British Foods posted a 42% slump in annual profits after being forced to shut all its stores during the spring lockdown.

Many retailers were calling for longer opening hours before the second lockdown was introduced PC World, Currys, Carphone Warehouse and Waterstones were just a few household names that extended opening hours before a four-week lockdown which started on the 5 November.

However, some retailers will not benefit from long opening hours. Increased wages and unguaranteed footfall create questions over the effectiveness of remaining open around the clock.

Competition from online rivals will continue

Despite longer opening hours, consumer spending habits are expected to continue to be dominated by online purchases. Retailers experienced record online sales during Black Friday. John Lewis announced it had shipped 2.5 million products since it started offering black Friday sales on the 20 November. This represented a 65% annual increase in shipping volumes.

Cautious consumers will avoid shopping in store to minimise the risk of contracting the virus. which remains prevalent across the country. Consequently, retailers will struggle to achieve enough footfall to bounce back from four weeks of store closures. The number of in store visitors grew 9% in the week before lockdown, but the volume of consumers was still 45% down from the same period in 2019.

Opening for extended periods during the weeks leading up to Christmas carries a significant risk. For some retailers, paying staff for longer shifts could exceed the value of sales generated during those extra hours of business. Therefore, operating normal open hours could still be more profitable.

Free Report
img

Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

Related Report