Exclusive: Government review delays announcement that pubs can reopen June 17, 2020 Downing Street’s plan to announce earlier this week that pubs and restaurants could open on 4 July was delayed by a government review, putting hundreds of thousands of jobs at risk. Morning Wire understands that Covid-19 operating guidelines for England’s hospitality sector have been drawn up by the government and are ready to distribute. However, the [...]
New boss for Hugo Boss as fashion house drafts in former Tommy Hilfiger CEO June 17, 2020 Hugo Boss has announced that former Tommy Hilfiger chief Daniel Grieder will be its new chief executive. Grieder, 58, will take up the post in June next year, after a decades-long career at Tommy Hilfiger. It comes after outgoing CEO Mark Langer announced that he was stepping down in March. Langer will leave post at [...]
Lockdown takes a slice out of Domino’s Pizza profits June 17, 2020 Domino’s Pizza has forecast that the cost of measures introduced during the coronavirus lockdown will push down profit for the first half of the year, despite an increase in people ordering in over the period. The company said the costs stemmed from halting two-person deliveries, keeping stores closed during restocking, contact-free delivery boxes, and issuing [...]
Boohoo buys Oasis and Warehouse as revenue rockets in lockdown June 17, 2020 Boohoo beat revenue expectations despite other retailers’ lockdown pain today as it confirmed a cut-price purchase of Oasis and Warehouse’s online divisions. The digital fashion retailer has thrived in lockdown, seeing revenue jump 45 per cent to £367.8m in the three months to May. And it also confirmed a £5.25m purchase of the online businesses [...]
B&Q-owner Kingfisher bounces back after initial lockdown hit June 17, 2020 B&Q-owner Kingfisher has reported more than one-fifth rise in second quarter profit, as its stores in the UK and Europe emerged from coronavirus lockdowns. The home improvement group said on Wednesday that underlying sales grew 21.8 per cent year-on-year in the three months to June 13, as customers took on more DIY projects than before [...]
Boohoo set to swoop for bankrupt Oasis and Warehouse June 16, 2020 Online fashion giant Boohoo is set to announce the purchase of high street brands Oasis and Warehouse, which went bankrupt at the end of April. Sky News reported that the deal could be announced tomorrow when Boohoo releases its first quarter results. When the two brands collapsed into administration on 30 April, with 1,803 redundancies, [...]
Former Credit Suisse boss Tidjane Thiam and Emma Watson to join Kering board June 16, 2020 The former chief executive of Credit Suisse is to join the board of Gucci owner Kering, alongside actress Emma Watson and the president of ride-hailing giant Didi Chuxing. Tidjane Thiam, who left Credit Suisse in February amid a major spying scandal, will chair Kering’s audit committee. Thiam, who previously ran insurer Prudential, had said he [...]
Unhappy Meal: McDonald’s sales fried across the globe by coronavirus lockdowns June 16, 2020 McDonald’s sales fell by about one-third across the globe over the first two months of the current quarter, as the coronavirus pandemic forced it to close stores across Europe. The fast food giant said that demand had improved significantly from April to May, as many of its restaurants reopened to diners, especially in the US. [...]
Selfridges, Kurt Geiger, Intu hail shopper appetite as stores reopen June 16, 2020 High-end retailers have struck a positive note after the first day of their stores being reopen since the coronavirus lockdown started in March. Selfridges, the London department store, said that footfall had been greater than expected, while other retailers and venues gave similar indications. Selfridges said: “We have been pleasantly surprised by the response as [...]
Cineworld to reopen UK cinemas with social distancing measures on 10 July June 16, 2020 Cinema chain Cineworld today revealed it will reopen UK cinemas from 10 July as it hopes blockbuster releases including Christopher Nolan’s Tenet and Disney’s live action Mulan will attract wary punters to its screens. Cineworld’s UK cinemas will reopen after more than three months of lockdown after Prime Minister Boris Johnson ordered all non-essential British [...]