Covid passes now required for nightclubs as trade laments ‘billions’ in lost trade December 15, 2021 Adults in England now require a Covid pass to enter nightclubs and other large events. The new rules came into force today, although almost 100 Conservative MPs voted against the government’s plans last night. All individuals over-18 are now required to show proof of two Covid jabs or a negative rapid test within 48-hours of [...]
In The Style profitability hit by supply chain disruption but fashion firm ‘confident’ in growth plans December 15, 2021 Fast fashion firm In The Style said its profitability took a hit thanks to supply chain issues as well as more shoppers returning clothes this year. The womenswear reported a drop in profit before tax, standing at £0.9m, in interim results for the six months ended 30 September. This is down on the £1.8m posted [...]
Curry’s on track to hit profit expectations despite warning of ‘further headwinds from Omicron’ December 15, 2021 Curry’s has said it expects to hit profit expectations despite any “bumpy demand” related to Covid uncertainty. In unaudited results for the half year ended 30 October, the technology retailer reported group adjusted profit before tax of £48m, compared to £40m in the same period a year prior. It marks a great leap from the [...]
Firms could be forced to get rid of staff without clarity on further financial support December 14, 2021 Retailers and hospitality bosses have reiterated calls for fresh financial support measures as trade is hit by Omicron restrictions ahead of Christmas. Businesses said consumer confidence has been hit by the latest headlines, with shops reporting reduced footfall and pubs seeing cancellations of bookings. Londoners are bunkering down in a bid to ensure they can [...]
Derwent London to buy the Moorfields Eye Hospital December 14, 2021 Derwent London has been selected as the preferred bidder to buy the freehold of the Moorfields Eye Hospital. The Moorfields Eye Hospital NHS Foundation Trust and UCL selected the property investment firm for the acquisition of the freehold of City Road Island and 11-43 Bath Street. Derwent will purchase 2.5 acres and 400,000 sq ft, [...]
Chanel names Londoner and Unilever exec Leena Nair as global CEO December 14, 2021 One of the most recognised luxury fashion brands has announced British former consumer goods specialist Leena Nair as its new global CEO. Born in India, a British national and a fashion industry outsider, Nair’s appointment as the boss of the French luxury giant is an unexpected move by the fashion house, known to be a [...]
Devolved nations add to mounting calls for fresh business support from Westminster amid Omicron surge December 14, 2021 Scotland’s first minister has added to calls mounting on Westminster for a fresh tranche of financial support for businesses. Nicola Sturgeon said a lack of new support from the UK government meant “there is no money to compensate” businesses in the wake of further Covid restrictions. This was “not acceptable,” Sturgeon said, echoing calls from [...]
Food and farming bosses warn businesses ‘still in meltdown’ amid labour crunch December 14, 2021 Chaos in the supply chain must be resolved to ensure food security in the UK, industry bodies have warned. The farming and producing sectors have been battered in recent months by labour shortages, including abattoir workers and HGV drivers. The industry has also struggled with inflation pushing up costs of energy, feed and fertiliser. The [...]
Labour shortages trigger ‘below expectations’ Black Friday for lifestyle retailer Joules December 14, 2021 Labour shortages led to a Black Friday performance below expectations, according to lifestyle group Joules. Global supply chain challenges led to “some higher costs and stock delays,” while labour shortages in a third-party operated distribution centre caused “extended” delivery times. “These factors were particularly acute in November, including the Black Friday period, which alongside weaker [...]
Ocado anticipates ‘best-ever Christmas’ as it eyes new Zoom site openings December 14, 2021 Ocado has forecast its “best-ever Christmas ahead” and said it anticipated mid-teens sales growth for 2022. In a trading update for the 13 weeks to 28 November, the grocer said there was “strong momentum in under-lying demand”. It posted retail revenue of £547.8m for the quarter. This was compared to £570.1m in the same period [...]