Brewdog toasts online sales as revenue grows a tenth April 10, 2021 Craft brewer Brewdog today said that an explosion on online sales had helped grow its revenue 10 per cent in 2020, despite the widespread hospitality shutdown due to the pandemic. The Scottish firm said that revenue had come in at £238m for the year, driven by a thirteen-fold increase in digital sales of its drinks. [...]
Brooks Brothers UK goes into administration as suits fall out of fashion April 9, 2021 The UK division of US business attire retailer Brooks Brothers had gone into administration, after suffering from a lack of demand for its products as people worked from home. Begbies Traynor were yesterday appointed the company’s administrators, website Bisnow first reported. “The reason for my appointment as administrator of the UK company is of course [...]
Restaurants may be reopening but delivery kits are here to stay April 9, 2021 It’s just days until we’re allowed to sit outside and eat a socially distanced meal with people from one other household – a concept that’s far more appealing than that sentence might suggest. But that doesn’t mean the home delivery restaurant-in-a-box revolution is over. With top chefs and restaurants from across the culinary spectrum now [...]
Frasers Group to take £200m Covid hit over third wave concerns April 9, 2021 Mike Ashley’s Frasers Group, which owns Sports Direct and House of Fraser, expects to take a £200m hit due to coronavirus, and warned that further restrictions on retail are “almost certain”. Frasers Group said it anticipates a non-cash impairment of more than £200m in the value of its properties and other assets. The retailer said [...]
Boohoo opens new warehouse to boost sales growth April 9, 2021 Boohoo has secured extra warehouse space to drive sales growth, creating up to 500 new jobs. The fast fashion firm said it had secured a long-term lease for a new warehouse in Daventry, which will become operational in the second quarter of its financial year. The new warehouse space, in addition to its existing sites [...]
Fashion retail sales rebound as shoppers invest in post-lockdown outfits April 9, 2021 Fashion retail sales soared last month as the sector, which has struggled during the coronavirus pandemic, was buoyed by shoppers investing in post-lockdown outfits. Total like-for-like fashion sales jumped 57.5 per cent in March – from a base of minus 25.9 per cent in the same month last year. This marks the first positive result [...]
End of lockdown: Most UK shoppers feel safe about returning to the high street on 12 April April 8, 2021 Most consumers feel safe returning to the high street, the latest research has shown ahead of non-essential retailers reopening on 12 April. According to a survey by Deloitte, 56 per cent of shoppers will feel safe about coronavirus risks when heading out to the high street next week, a 16 percentage point increase compared to [...]
Soho House takes first steps towards New York listing April 8, 2021 Soho House has taken the first step towards a New York stock market listing that would see the business valued at more than $3bn. The private members club has submitted a confidential filing for an initial public offering (IPO) in New York, Sky News first reported. The filing is the first formal step towards a [...]
GameStop to elect activist investor Cohen as chairman in e-commerce push April 8, 2021 GameStop intends to elect activist investor Ryan Cohen as chairman, putting him at the helm as the company transforms from a bricks-and-mortar store to one with an e-commerce focus. Since Chewy co-founder Cohen joined the video game retailer’s board in January, he has been pushing towards the transformation of the brick-and-mortar retailer into an e-commerce [...]
Virgin Voyages to launch in UK for vaccinated passengers April 8, 2021 Virgin Voyages has today announced that it will finally launch its long-delayed debut cruises this summer – but only for fully vaccinated passengers. The firm, which only caters to adult passengers, will offer six trips in UK waters, starting from Portsmouth, from August. Passengers aboard the Scarlet Lady can opt for either a three or [...]