News

Read the latest Santander news articles and press releases that are relevant to your business sector.

New research from analyst Retail Economics show that UK retail sales started to stage a recovery from the lockdown in June. From 31 May to 4 July the value of sales was up 1.6% year on year.

The retail and wholesale industry has long been seen as a bellwether for the British economy – and the stark contrast in fortunes between various parts of the sector highlight just how volatile a period we are living through at present.

While the Easter holiday is a vital trading period for retailers, comparisons between this year’s sales and previous years have been rendered futile by the coronavirus pandemic. But while the short-term effects of the crisis on the retail and wholesale industry are highly visible, it’s also important to begin grappling with potentially more enduring impacts.

The impact of the Covid-19 pandemic on the UK’s wholesale and retail sector has so far been hugely polarised. Many businesses have seen sales soar to record levels as consumers have taken steps to stock up on essentials in anticipation of being stuck at home for weeks on end; others have been forced to shutter their operations for the foreseeable future due to government social-distancing and workplace-safety rules.

Santander’s latest Trade Barometer findings reveal that companies in the UK’s Wholesale & Retail sector are responding to softening domestic demand by focusing their attention on new international markets.

Seasalt, the Cornish lifestyle and clothing brand, announces a £16 million investment in the company to support future growth and development in the business. The investment will see Business Growth Fund (BGF) invest £11.5 million, with Santander Corporate & Commercial providing an additional £4.5 million in funding.

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