Rishi Sunak mulls online sales tax for e-commerce retailers July 27, 2020 Chancellor Rishi Sunak is mulling a new tax on online retail sales to ease pressure on the struggling UK high street. In a call for evidence published last week the Treasury sought industry views on a potential online sales tax for e-commerce retailers to help physical stores compete. The tax, which would exist alongside business [...]
City Pub Group toasts return to profitability after reopening July 27, 2020 City Pub Group this morning toasted a return to profitability since reopening after the coronavirus lockdown. The pub chain, which has so far reopened 32 of its 48 pubs, said total sales for the three weeks since reopening on 4 July were £1.8m. On a like-for-like basis sales have reached 63 per cent of pre-pandemic [...]
Bottoms up: Naked Wines sales surge even as lockdown ends July 24, 2020 Online wine seller Naked Wines today said its sales surged 67 per cent in June compared with last year as orders continued to rise even after the easing of the coronavirus-triggered lockdown in Britain. The company also announced the departure of chairman John Walden, who has led the group through the sale of the Majestic [...]
French Connection secures injection from Hilco to help with pandemic fallout July 24, 2020 Fashion retailer French Connection has agreed a £15m liquidity deal with buyout group Hilco Capital to help keep the business going for another two years. French Connection said a deal had to be found as it was ineligible for the government’s coronavirus support schemes. Hilco will provide the retailer with a £15m working capital facility, [...]
UK retail sales surge close to pre-lockdown levels in June recovery July 24, 2020 UK retail sales almost recovered in June from their staggering drops during Britain’s coronavirus lockdowns, official data showed today. The volume of retail sales jumped 13.9 per cent from May to June as shops and non-essential stores opened their doors to customers once again following a lockdown that started on 23 March. Non-food store sales [...]
DEBATE: Should Brits embrace the joys of the domestic staycation this summer? July 24, 2020 Should Brits embrace the joys of the domestic staycation this summer? Victoria Mackarness, senior account manager at CMS Strategic, says YES. The UK is lucky to boast an abundance of incredible holiday destinations with something to appeal to everyone. From the Highlands of Scotland to the beaches of St Ives, we are blessed with glorious [...]
Pub and restaurant sales jump in second week of trading July 24, 2020 Pub, bar and restaurant sales started to improve in the second week after lockdown was lifted as more sites reopened, the latest research showed. Hospitality businesses in England were allowed to reopen from 4 July as the coronavirus lockdown was eased, but sales jumped in the week beginning 13 July as more venues opened and [...]
Dyson to cut 900 jobs globally due to virus impact July 23, 2020 Vacuum cleaner firm Dyson said it will cut 900 jobs from its global workforce, as the coronavirus pandemic impacts consumer demand for its products. Approximately 4,000 of Dyson’s 14,000 staff are based in the UK. “These proposals would regrettably result in around 600 redundancies in the UK and 300 in the rest of the world,” [...]
Unilever beats sales forecasts as it retains India tea arm July 23, 2020 Unilever beat analyst expectations of a drop in sales in its latest half-year results, it revealed today, as home and food sales offset declines elsewhere, it said today. The consumer goods behemoth beat analyst expectations of a 4.3 per cent drop in underlying sales, posting just a 0.3 per cent decline for the second quarter. [...]
Brits spend £40bn on items to boost mood in lockdown July 23, 2020 Brits have spent £40.6bn on dispensable items during lockdown in a bid to keep themselves entertained while at home. Consumers spent an average of £771.34 each during lockdown, as retailers launched new products to capitalise on the demand for at-home experiences. Londoners spent the most during lockdown, amounting to 2812.26 per person followed by parents [...]