Asda sales growth slows but grocer forecasts bumper online Christmas November 17, 2020 Asda’s sales growth slowed in the third quarter as lockdown restrictions lifted and hospitality businesses reopened, the supermarket announced this morning as it said customers are already stocking up for a “very different” Christmas this year. The grocer’s like-for-like sales excluding fuel were up 2.7 per cent in the three months ended 30 September, compared [...]
Tesco, M&S and Sainsbury’s face allegations of worker exploitation in India November 17, 2020 UK retailers including Marks & Spencer (M&S), Tesco and Sainsbury’s are facing calls to apologise following allegations of worker exploitation in their supply chains. Supermarket supplier workers in India reportedly said they do not get toilet breaks or sufficient breaks to drink water or eat lunch. One member of staff told the BBC they were [...]
Imperial Brands revenue rises as demand for tobacco picks up November 17, 2020 Imperial Brands reported a rise in annual sales after demand for tobacco picked back up amid the pandemic. The maker of Gauloises and JPS reported revenue for the year to 30 September rose from £31.59bn to £32.56bn. Imperial Brands made a pretax profit of £2.17bn, up from £1.69bn in the previous year, which included £90m [...]
Cineworld shares soar on Moderna coronavirus vaccine breakthrough November 16, 2020 Cineworld’s share price soared this morning following a second coronavirus vaccine breakthrough on hopes that an end to the pandemic could save the struggling entertainment firm. The cinema chain’s stock rose as much as 21 per cent after US biotechnology company Moderna announced that early data suggested that its Covid-19 vaccine is 94.5 per cent [...]
All Bar One and Toby Carvery owner Mitchells & Butlers to close 20 sites November 16, 2020 All Bar One and Toby Carvery owner Mitchells & Butlers will permanently close 20 sites due to the impact of the coronavirus pandemic. The pub and restaurant chain, which also owns Harvester, O’Neills and Miller & Carter, said it had decided not to reopen the sites after assessing expected footfall and business layout. It opened [...]
UK retail footfall ‘more resilient’ in second lockdown November 16, 2020 Retail footfall has been more resilient during the second coronavirus lockdown compared to the first closure of non-essential stores in March, the latest analysis showed. Between Thursday and Saturday footfall in retail destinations rose by an average of 13.2 per cent from the same three days in the week before, when the lockdown began. Shoppers [...]
Arcadia taking ‘appropriate steps’ amid second lockdown but denies administration November 16, 2020 Sir Philip Green’s retail empire Arcadia has said it is taking “all appropriate steps” to mitigate the impact of a second lockdown and hit back at claims it is about to enter into administration. The second lockdown in England comes at a precarious time as retailers prepared for the Christmas period hoping to salvage the [...]
Greggs to cut 820 jobs as Covid-19 impact bites November 13, 2020 Greggs will cut 820 shop staff jobs as it expects trading to remain below normal for the foreseeable future due to the Covid-19 pandemic, a company spokeswoman confirmed this evening. In September Greggs launched a consultation with union and employee representatives and was aiming to minimise job losses by negotiating reduced staff hours. The company [...]
Majority of Brits sceptical of Black Friday offers, survey shows November 13, 2020 A huge majority of Brits are sceptical about Black Friday offers, believing many of the discounts are too good to be true, the latest research showed in the run up to the annual sales day. Black Friday has become one of the biggest shopping days of the year, and will be of particular importance to [...]
Deliveroo adds ex-Worldpay CFO to board November 13, 2020 Former Worldpay chief financial officer Rick Medlock has joined Deliveroo’s non-executive board. The move comes as the takeaway delivery app prepares to pursue a public listing in the coming months, Sky News reported. Sources told Sky News that Deliveroo had also been approaching candidates for its chairmanship. Deliveroo is said to have appointed bankers at [...]