Fashion platform Farfetch beats growth expectations with 46 per cent sales jump May 14, 2021 Luxury fashion platform Farfetch beat growth expectations in the first quarter of the year as its sales jumped 46 per cent. The British e-commerce site said revenue hit $485m in the first three months of the year, with gross merchandise value rising 50 per cent to $916m. Meanwhile, profit after tax reached $517m during the [...]
Poundland owner sets discount price for budget retailer’s Warsaw listing May 14, 2021 Poundland’s owner has set a discount price for the budget retailer’s Warsaw listing, giving the company a market capitalisation of 23bn zlotys (£4.38bn). South African conglomerate Steinhoff, the parent company of Poundland owner Pepco, set the price of shares in the firm at 40 zlotys. The pricing is towards the lower end of the 38 [...]
The Works ‘encouraged’ by post-lockdown sales but warns of ongoing uncertainty May 14, 2021 Arts and books retailer The Works said sales have been “very encouraging” since most of its stores reopened, but warned it is too early to judge whether the spike is due to pent up demand or “strong underlying performance”. The high street chain said online sales have reduced since its branches reopened but that they [...]
Pub and restaurant sales bounce back in April ahead of full reopening May 14, 2021 Pub and restaurant sales bounced back in April, reaching almost 75 per cent of pre-pandemic levels in a confidence boost for the sector ahead of its full reopening on Monday. Managed pub and restaurant groups recorded a 26 per cent drop in like-for-like sales last month compared to April 2019. The period covers three full [...]
Vaccinations drive Airbnb bookings up 52 per cent May 13, 2021 Airbnb beat Wall Street’s expectations for first-quarter gross bookings and revenue on Thursday, as speedy Covid-19 vaccinations and easing restrictions encouraged more people to check into its vacation rentals. Gross bookings jumped 52 per cent to $10.29bn in the quarter, easily beating analysts’ estimates of $6.93bn. “For guests aged 60 and above in the U.S., who [...]
Morrisons offers lockdown entrepreneurs chance to sell products in stores May 13, 2021 Morrisons has launched a scheme to offer UK entrepreneurs the chance to sell their products in store and online as more consumers look to support small and local businesses. A record number of new businesses were set up last year – rising 13.25 per cent to 772,002 – as budding entrepreneurs used lockdown to focus [...]
Carphone Warehouse, Currys PC World and Dixons Carphone to disappear in huge Currys rebrand May 13, 2021 Electricals retailer Dixons Carphone has revealed plans to rename all its UK and Ireland shops as Currys as part of a major rebrand. The group said Currys PC World, Carphone Warehouse, Team Knowhow and Dixons Carphone will all become Currys by October, with a new Currys website also set to be launched. It will see [...]
Yet more places to eat and drink: 70 bars and restaurants open now May 13, 2021 It’s just days until we can once more sit in a restaurant and dine like civilized human beings, albeit socially distanced ones. But where to book? To help you make this most difficult of decisions, we’ve collected a bumper list of 70 places to meet up with friends and support the hospitality industry. With spots [...]
Burberry reinstates dividend at pre-pandemic levels as sales bounce back following lockdowns May 13, 2021 Burberry shareholders will receive a payout equal to pre-pandemic levels after the luxury retailer reinstated its dividend, following strong recovery in its core markets. The designer brand said this morning that it will reinstate its full-year dividend at 2019 levels of 42.5p “on the back of strong cash generation”. In the year ended 27 March [...]
75 per cent of nightlife venues face bankruptcy when rent moratorium ends May 13, 2021 There is a £2.5bn pandemic-induced rent crisis brewing in the nightlife industry, according to the Night Time Industries Association (NTIA), which has urged the government today to offer a solution. Rising rent arrears threatens to bankrupt 75 per cent of commercial tenants in the sector, once the government’s rent moratorium ends in July, the nightclubs, [...]