Frasers shares jump 16 per cent on growth forecast despite profit hit August 20, 2020 Shares in Mike Ashley’s Frasers Group jumped 16 per cent this morning after it said it expected growth of up to 30 per cent this year, despite profit falling one-fifth in the year to April. Frasers, which was formerly called Sports Direct, released its preliminary results today, a week after they were scheduled to come [...]
Charity sector to suffer 60,000 job losses due to coronavirus August 19, 2020 The charity sector has lost more than 25,000 jobs since the coronavirus pandemic began and a further 35,000 could go, according to new data. Analysis of a survey of 455 charities has revealed that there are an estimated five times as many redundancies as the official 5,400 that have been announced. The research from Pro Bono [...]
Hugo Boss will only ask staff to work in the office three days a week even after Covid-19 August 19, 2020 Hugo Boss will allow staff the option of remote working every Monday and Friday, even after the coronavirus pandemic has abated. The German fashion house announced today that it will only require the majority of its staff to come into the office from Tuesday to Thursday, with the option of working from home on Monday [...]
Pizza Express closures: A list of all 73 affected restaurants August 19, 2020 Pizza Express is closing 73 restaurants with 1,100 jobs at risk after its business was hit by the coronavirus lockdown. The casual dining chain, which struggled with a debt pile of over £1bn thanks to a series of private equity buyouts, made the cuts as part of a company voluntary arrangement (CVA) with creditors. The [...]
Amazon expands Morrisons range as it beefs up grocery deliveries August 19, 2020 Amazon today said it will offer the full range of Morrisons products for delivery as the ecommerce giant ramped up its presence in the UK grocery market. The strengthened deal means Morrisons customers will be able to do their full shop through the main Amazon website. Amazon Prime customers will be offered free same-day delivery [...]
Competition watchdog to probe Carlsberg-Marston’s tie-up August 19, 2020 The competition watchdog today said it has opened a probe into a proposed £780m tie-up between beer giants Carlsberg and Marston’s. The Competition and Markets Authority (CMA) said it was considering whether the deal would create a relevant merger situation and damage competition. In May the two companies announced plans to combine their brewing businesses [...]
Brute farce: Under Armour scolded by watchdog over shirt strength claim August 19, 2020 Under Armour has been given a ticking off by the advertising watchdog over claims one of its shirts made people stronger. In a promotion for the long-sleeved baselayer shirt, which retails at £55, the sportswear brand said its product had been “tested and proven to improve strength and endurance”. “The way it works is that [...]
Pizza Express to cut up to 1,100 jobs after enforced store closures August 18, 2020 Pizza Express has unveiled plans to close 73 of its restaurants in a move that places 1,100 jobs at risk. The dining chain confirmed on Tuesday that it had finalised a proposal to reduce its restaurant and rental costs via a company voluntary arrangement (CVA). The company, which has around 470 sites throughout the UK, [...]
Angling Direct reels in strong online sales during lockdown August 18, 2020 Angling Direct has capitalised on pent-up demand as it reeled in strong sales as stores reopened, while maintaining a strong online presence during lockdown. The coronavirus restrictions did little to dent demand as sales jumped to £32.1m in the six months to the end of July. The figures Angling Direct reported a 21 per cent [...]
Eat Out to Help Out scheme serves up 35m meals in first two weeks August 18, 2020 More than 35m meals have already been claimed on the Eat Out to Help Out scheme, according to the Treasury. Restaurants, pubs and cafes have so far submitted more than 35m claims to the government for meals that have been discounted under the programme. The scheme gives diners 50 per cent off up to £10 [...]