Almost a thousand pubs and restaurants have closed since Freedom Day October 13, 2021 The country has lost nearly a thousand pubs and restaurants since Freedom Day, when hospitality was freed from Covid restrictions. At an average closure rate of 16 licensed premises a day, the figures from CGA and AlixPartners make stark the difficulties still faced by businesses. Independently run pubs and bars accounted for nearly three quarters [...]
LVMH enjoys post-lockdown sales boom as shoppers turn to luxury goods October 12, 2021 Sales at French luxury giant LVMH swelled 20 per cent in the third quarter as shoppers rushed to buy high-end fashion amid the return of socialising. The company said like-for-like sales, stripping out the effect of foreign exchange fluctuations, rose to 15.51 billion euros ($17.90 billion) in the three months to September. It sells a [...]
Losing the spark: London’s New Year’s Eve fireworks show cancelled again October 12, 2021 London’s highly anticipated New Year’s Eve fireworks show has been cancelled for the second year running over Covid-19 concerns. While the Thames-side event is off, there are plans to hold a separate event in Trafalgar Square, according to the Metro. “This year, as always, London will be welcoming the new year in a spectacular way,” [...]
Gymshark ‘aggressively’ pitched by banks as London IPO is on the cards October 12, 2021 Athleisure business Gymshark has started to put together plans for a stock market listing. The brand has been holding preliminary talks with institutional investors and investment banks about a flotation, Sky News has reported. The company hit a £1bn valuation just over a year ago and boasts customers in more than 130 countries. Gymshark was [...]
Shoppers cut down on supermarket trips amid petrol panic buying October 12, 2021 Brits limited the number of trips they made to supermarkets in the past month because of a reduced availability of fuel. The average household made 15.5 store visits in the past four weeks, the lowest monthly figure since February, according to the grocery market share figures from Kantar. The proportion of groceries bought online – [...]
Amazon makes U-turn and allows 50,000 corporate staff to work remotely indefinitely October 12, 2021 E-commerce Amazon said this morning plans to permit many tech and corporate workers to continue working remotely indefinitely as long as they can commute to the office when necessary. It is a change from Amazon’s previous expectation that most employees would need to be in the office at least three days a week after offices [...]
InnovaDerma tries to capture Gen Z hearts with Love Island star partnership October 12, 2021 Love Island star Liberty Poole has been named as a Skinny Tan brand ambassador, as the company looks to appeal to Gen Z. Parent company InnovaDerma – whose share price has dropped 23 per cent over the past year – said it hopes the Instagram influencer will help reach younger customers. Skinny Tan said women [...]
Waistcoats and aviators: Lockdown TV drives fashion sales October 12, 2021 John Lewis has revealed how lockdown TV inspired fashion and lifestyle trends over the past year. Television series replaced the shop window, the retailer said. In March 2021, searches for aviator sunglasses and sales of AND/OR flare jeans rose after 1970s-set The Serpent aired on the BBC. Sales of waistcoats jumped 114 per cent between [...]
Customers hesitant to buy bulky furniture amid fuel worries October 12, 2021 Brits were hesitant to purchase larger goods like furniture last month amid damp weather and fuel shortage concerns. September marked the slowest retail sales growth since January, when the UK was subject to lockdown measures. UK retail sales decreased 0.6 per cent on a like-for-like basis from September 2020, when they had increased 6.1 per [...]
Bleak outlook: Asos ‘not keeping up with fast fashion rivals’ after supply chain pressures October 11, 2021 Online retailer Asos’ share price took a bruising yesterday amid a “massive warning shot across the bows of other online retailers.” The fashion firm’s CEO Nick Beighton made a shock resignation yesterday after six years in the role as shares were down 50 per cent on the year. Shares fell by 14 per cent on [...]