Supermarket clothing sales double as shoppers seek retail therapy April 7, 2021 Supermarket clothing sales boomed last month as consumers sought in-person shopping experiences while non-essential retailers were closed, in a positive indicator of pent up demand ahead of high streets reopening next week. Sales of clothing at supermarkets doubled to £313m in the four weeks ended 27 March. Home and garden sales also collectively jumped to [...]
Cruise ship operator Saga’s profit plunges as travel restrictions continue April 7, 2021 Saga, the over 50s holiday and insurance provider, suffered a sharp drop in profit during the coronavirus pandemic due to the negative impact of restrictions on international travel. Underlying profit before tax plunged 84.4 per cent from £109.9m to £17.1m, it said this morning. However, the cruise ship operator posted a statutory loss before tax [...]
Goldman Sachs propped up Deliveroo IPO with £75m investment April 6, 2021 Goldman Sachs pumped tens of millions of pounds into Deliveroo shares in order to prop up trading of the takeaway app, after investors shunned its market debut. The investment bank bought around £75m of Deliveroo shares – equivalent to a quarter of stock traded in the first two days after the London listing – the [...]
Warehouse developments to double this year as retailers respond to online shopping demand April 6, 2021 Warehouse space developments have boomed this year due to the rise of online shopping during the coronavirus pandemic, with the amount of sites set to complete in 2021 doubling compared to last year. The latest research showed that 40m sq ft of warehouse space developments are scheduled for completion this year, compared to the 20m [...]
Retailers prepare to reopen doors as shoppers look forward to returning to high street April 6, 2021 Retailers are preparing to reopen their doors next week after months of closure, with many consumers looking forward to returning to the high street. Research published this morning showed that 84 per cent of Brits said they are likely to visit their local high street or shopping centre next week, after non-essential stores reopen on [...]
Nobu and Hakkasan delivery app Supper to raise £5m to expand high-end restaurant platform across London April 6, 2021 Premium London restaurant delivery app Supper, which counts Nobu, Hakkasan, Zuma and Hide among its clients, has launched a £5m funding round to expand across the capital. The takeaway platform, which has described itself as the “Michelin star Deliveroo”, will raise £1.5m through private equity investment firm Growthdeck as part of the fundraise. Supper, which [...]
Peacocks rescued from administration, saving 2,000 high street jobs April 6, 2021 High street retail chain Peacocks has been rescued from administration after being bought by an investment consortium, saving around 2,000 jobs. Edinburgh Woollen Mill Group, the retail empire owned by billionaire businessman Philip Day, has agreed to support the sale of its high street brand. EWM Group said it had backed a bid by an [...]
Homeserve expects £10m profit jump as renovations boom during pandemic April 6, 2021 Homeserve said it expects to report a £10m jump in profit when it publishes its full-year results, due to the surge in demand for home improvements during the pandemic. Adjusted profit before tax for the financial year ended 31 March is expected to be around £191m, up from £181m in the previous year. It said [...]
Boris Johnson confirms England’s pubs and non-essential retail will open Monday as vaccine passports given green light April 5, 2021 Boris Johnson has today confirmed pubs, restaurants and non-essential retail across England will reopen on 12 April as a large section of the country’s economy is released from Covid-19 restrictions. The government also confirmed that retail and hospitality businesses will be allowed to use new Covid vaccine certificates to determine whether people can enter their [...]
GameStop shares slump as it plans $1bn post-rally stock sale April 5, 2021 GameStop shares slump as it plans $1bn post-rally stock sale