Card Factory says second half sales recovering, gives no outlook September 29, 2020 Britain’s Card Factory said today it has had an encouraging start to the second half of the fiscal year as its stores reopened, but could not provide a forecast for the rest of the year as it faced the impact of a new wave of coronavirus lockdowns. “In the short term, as well publicised, recovery in the retail [...]
Coronavirus: Supermarkets ramp up online services amid second wave fears September 28, 2020 Supermarkets are ramping up their online delivery services amid fears over a second wave of coronavirus, after demand outpaced capacity during the UK-wide lockdown this summer. Demand for home deliveries has recently spiked again over concerns that the government will impose stricter lockdown rules as coronavirus cases have surged. It was reported today that London [...]
High street footfall plunges after 10pm hospitality curfew introduced September 28, 2020 High street footfall dropped sharply last week following the introduction of a 10pm curfew for pubs and restaurants as part of measures to reduce the spread of coronavirus. Retail footfall has been gradually increasing as coronavirus restrictions have been lifted. However fears over a second wave of the virus prompted the government to impose a [...]
Walmart selects billionaire brothers as preferred bidders for Asda September 28, 2020 US retail giant Walmart has selected a consortium led by the billionaire brothers behind petrol station chain EG Group with private equity firm TDR Capital as the preferred bidder to buy Asda. The deal would value the UK supermarket chain at more than £6.5bn, Sky News reported. The broadcaster said that Mohsin and Zuber Issa, [...]
Diageo shares pop as Guinness maker hails improved trading September 28, 2020 World’s largest spirit maker Diageo said that it had made a “good start” to the new financial year, driven by its US business, which is performing ahead of expectations. Shares in the FTSE 100 drinks maker rose 6.1 per cent as markets opened this morning. In an update before the firm’s AGM, chief executive Ivan [...]
Aldi to create 4,000 jobs in £1.3bn UK investment as profits soar September 28, 2020 Aldi’s has announced plans to invest £1.3bn in the UK over the next two years as it reported a 49 per cent increase in profit for 2019. The German discount supermarket said it would open 100 new stores in the UK in 2020 and 2021, sticking to its target of 1,200 stores by 2025. Aldi, [...]
Restaurant industry risks ‘lost generation’ without more support, top chefs warn September 27, 2020 Raymond Blanc and Michel Roux Jr have warned that the restaurant industry risks losing a generation of talent and will “suffer enormously” amid fresh coronavirus restrictions and gaps in government support. Industry figures have condemned the new 10pm curfew as “devastating”, while a quarter of hospitality businesses fear they will go bust by the end [...]
Shaftesbury collects less than half of owed rent since pandemic began September 25, 2020 The real estate investment trust, Shaftesbury, has collected just 41 per cent of rent in the six months ending 30 September, it said. Shaftesbury, which owns a 16-acre property portfolio in the heart of London’s West End, has also decided not to declare a final dividend for the year ending 30 September 2020 as a result. It said it [...]
Boohoo’s share price jumps as independent review absolves firm of deliberately allowing poor working conditions September 25, 2020 Boohoo’s share price rose by more than 13 per cent in early morning trading after an independent review absolved the fast fashioner retailer of allegations that it deliberately allowed poor working conditions and low pay at its suppliers. The review was conducted by Alison Levitt QC following the “sweatshop” scandal, which highlighted poor working practices at [...]
Next boss warns thousands of retail jobs set to become ‘unviable’ September 25, 2020 The boss of fashion retailer Next has warned that hundreds of thousands of retail jobs could become “unviable” due to a more permanent shift to online shopping caused by coronavirus. Lord Wolfson, who heads up the British high street chain, said there were tough times ahead for the sector, following the Chancellor’s announcement of the [...]