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Richard Lim

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Richard Lim Life story


Wilko shops set to return to the High Street before Christmas

Wilko shops set to return to the High Street before Christmas
Oct 27,2023 5:31 am

... Richard Lim, chief executive of Retail Economics, suggested that the new shops would be able to benefit from the scale and systems that The Range has in place...

What has gone wrong at Wilko?

What has gone wrong at Wilko?
Aug 3,2023 11:41 pm

... Woolworths gapAlthough the brand is beloved by Brits, Richard Lim, boss of the Retail Economics consultancy, said: " Sadly, sentiment doesn t ensure commercial success...

Chilli crab: The woman behind Singapore's beloved dish

Chilli crab: The woman behind Singapore's beloved dish
Feb 18,2023 12:11 am

... Alongside the original version of chilli crab, these dishes are still being served at the 1,000-seater Roland Restaurant, which is run by her sons Roland Lim, 65, and Richard Lim, 60...

Black Friday: Cost of living crisis may hit sales rush

Black Friday: Cost of living crisis may hit sales rush
Nov 24,2022 9:31 pm

... Retail expert Richard Lim told the BBC he was expecting Black Friday to be a more " muted affair" with sales down on last year...

Primark pledges no more price rises as costs soar

Primark pledges no more price rises as costs soar
Nov 8,2022 4:31 am

... Although it warned that profits could take a hit this financial year as the business faces cost increases, Richard Lim, boss of the Retail Economics consultancy, said they were " impressive" results against a " harsh economic backdrop"...

Cost of living: 'I owe my mum £6,000 but I can't stop spending'

Cost of living: 'I owe my mum £6,000 but I can't stop spending'
Jul 15,2022 6:30 am

... " This group of squeezed spenders is interesting, precisely because it s counterintuitive, " Richard Lim, head of Retail Economics, told the BBC...

Tesco shopper's plea to bring back till staff

Tesco shopper's plea to bring back till staff
May 18,2022 11:35 am

... Shape of things to come? At the time Richard Lim, chief executive of retail analyst group Retail Economics, said the move was " reflective of the way the wider industry is heading"...

Tesco vows to rein in prices as profits treble

Tesco vows to rein in prices as profits treble
Apr 13,2022 12:35 pm

... Commenting on Tesco profits, chief executive of Retail Economics, Richard Lim said the increases were " mightily impressive"...

Tesco vows to rein in prices as profits treble

Mar 2,2022 1:16 am

Tesco profits More Than trebled Last Year amid rising sales and a Fall In Covid-related costs.

The UK's largest supermarket chain reported pre-tax profits of £2. 03bn, up from £636m the previous year.

Group sales, excluding fuel, rose by 2. 5% to £54. 8bn, while in the UK retail sales rose by 2. 3% year on year.

However, Tesco warned of " significant uncertainties" and said performance would be affected by The The investment needed to keep prices down.

Chief executive Ken Murphy said: " Clearly, the external environment has become more challenging in recent months.

" Against a tough backdrop for our customers and with household budgets Under Pressure , We Are laser-focused on keeping the cost of The Weekly shop in Check - working in close partnership with our suppliers, as well as doing everything we can to reduce Our Own costs. "

Mr Murphy added that Tesco was managing to keep The Rise in the cost of living a " bit under The Number for the overall market".

However, products that require a lot of energy to produce are experiencing the highest cost pressures. Tesco accepted a 20% cost price increase in milk from its suppliers less than Two Weeks ago. However, the UK's largest dairy Arla that with cost increases of some 36%, farmers faced tough cost challenges.

Mr Murphy said strong product availability had been maintained but added that products such as Sunflower Oil were a challenge due to The War in Ukraine.

It is also said customer behaviour is also returning to more normal patterns as shoppers rely less on supermarket trips as the UK emerges from the pandemic.

Commenting on Tesco profits, chief executive of Retail Economics, Richard Lim said the increases were " mightily impressive".

As the cost of living crisis continues, Mr Lim said many shoppers would be trading down to own-label brands, switching retailers and scaling back on premium purchases.

However, He Said Tesco was " well-positioned" given the " competitive advantage" offered by its loyalty scheme and " meaningful negotiating power" it had with suppliers.

Tesco online business was lower as sales declined by 6. 5% because some customers chose to return to shopping in stores as the pandemic eased.



Source of news: bbc.com

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