Coronavirus: Online beer and wine shop reports 1,000 per cent surge in sales April 2, 2020 Londoners have been stocking up on alcohol supplies during the coronavirus lockdown, with one online craft beer reporting a 1,000 per cent increase in sales. Beer and wine supplier Rebellious Goods said its online business has seen 11 times more orders in March compared to February, while average order sizes are three times above pre-coronavirus [...]
Coronavirus: Online prices rise for medicines and stockpiled goods April 2, 2020 The online prices of essential household products and long-life food increased as demand soared due to the coronavirus outbreak. The latest data showed that online prices for high-demand products increased 1.1 per cent on average between the weeks ending 22 March and 29 March as consumers faced restrictions on visiting physical stores. According to the [...]
Coronavirus: Saga seeks debt holiday and warns cruises could be suspended for six months April 2, 2020 Saga, the cruise operator and insurance provider for over-50’s, said this morning it plans to ask for a debt holiday as it warned that it could be forced to postpone holidays for up to six months. Saga’s share price dropped more than five per cent after it said full year revenue could be down around [...]
Coronavirus: Hotel Chocolat scraps dividend after £20m share placing April 2, 2020 Hotel Chocolat is the latest company to cancel its dividend in a bid to save cash during the coronavirus crisis. The high street chain said this morning that it has scrapped the proposed interim dividend, which was due to be paid to shareholders on 15 April, after raising an extra £20m through a share placing [...]
Coronavirus: Landsec scraps dividend as rent payments fall April 2, 2020 Retail and office space landlord Landsec suffered a drop in rent payments last month due to the outbreak of coronavirus. Landsec, which this morning scrapped its interim dividend, said 65 per cent of the rent due on 25 March had been paid by the end of the month, compared to 96 per cent the previous [...]
Coronavirus: Pets at Home to beat profit expectations after surge in demand April 2, 2020 Pets at Home announced it expected full-year profit to beat previous expectations following an “exceptional” level of demand due to the coronavirus outbreak. The pet store, which has been classified as an essential retailer and is allowed to stay open during the government mandated lockdown – said in-store and online sales had increased as existing [...]
Coronavirus: M&S gives staff 15 per cent bonus April 1, 2020 Marks and Spencer will give frontline staff across its stores and supply chain a 15 per cent bonus for their work during the coronavirus pandemic. The company also said employees that “have caring commitments or who are feeling more vulnerable” are able to be furloughed voluntarily on full pay. The retailer announced this morning that [...]
Unilever acquires Horlicks brand in India in £397m deal April 1, 2020 Consumer goods giant Unilever has today completed the acquisition of Horlicks and other Glaxosmithkline brands in a £397m deal. The deal will allow Unilever to use the Horlicks brand rights and other GSK Consumer Healthcare nutrition brands in predominantly Asian markets. The company’s listed subsidiary in India, Hindustan Unilever Limited (Hul) also announced today that [...]
Mike Ashley’s Frasers Group cuts executive pay amid coronavirus crisis April 1, 2020 Mike Ashley’s Frasers Group, formerly known as Sports Direct, has reportedly agreed to cut executive pay in order to continue to pay shop floor staff during the coronavirus crisis. Members of the retailer’s senior management team have agreed to reduce their basic pay to a maximum of £40,000 per year from May. The reduction will [...]
Morrisons wins legal case over data breach liability April 1, 2020 The UK’s highest court has ruled that Morrisons is not legally liable for the actions of a disgruntled former employee who leaked the data of more than 100,000 workers. Supreme Court judge Lord Reed ruled this morning that the supermarket was not vicariously liable for the conduct of Andrew Skelton, who was jailed in 2015 [...]