Airbnb anticipates ‘strong sustained pent up demand’ as results beat analyst expectations May 4, 2022 Airbnb has posted record quarterly results and beat estimates as holidaymakers are keen to get away after lockdown measures have eased. First quarter revenue shot up 70 per cent from the year prior, despite the company noting “macroeconomic headwinds,” war in Ukraine and the pandemic. Revenue hit $1.5bn and exceeded its pre-pandemic comparable by 80 [...]
Oxford St raid: Officers seize thousands of counterfeit and dangerous items from two retailers May 4, 2022 Trading standards officers seized £58k worth of vapes and unsafe toys from two Oxford Street retailers. Westminster City Council officers seized more than 4,000 items that were thought to be counterfeit or possibly dangerous to the public. Items seized in the 26 April raid included vaping devices containing excessive levels of nicotine and which had [...]
Supermarket sales slow over Easter as Brits start to cut back on grocery purchases May 4, 2022 Supermarket sales slowed last month as spending habits returned to normal after pandemic restrictions. Households are tightening their purse strings after the first tranche of higher bills hit budgets this spring while spending habits are also normalising after the easing of lockdown restrictions. Shoppers added slightly fewer items to their baskets over the last four [...]
Boohoo woes: Shares collapse as customers return more clothes than expected May 4, 2022 Boohoo faces further woes as the online retailer’s shares plunged after it admitted that consumers were returning items more than expected. Supply chain hang-ups have also led to longer delivery times, to the detriment of the Boohoo’s international proposition, it said on Wednesday. The beleaguered fashion firm recorded a revenue jump of 14 per cent [...]
Joules shares plunge after news of CEO departure and ‘more challenging’ market May 4, 2022 Premium British lifestyle group Joules posted strong revenue growth this morning, up 20 per cent for the quarter ending 1 May.
Let Brits pick value brands over own-branded products to beat cost of living crisis, Cabinet minister suggests May 4, 2022 A Cabinet minister suggested shoppers could choose value brands to help cope with rising food prices. Environment Secretary George Eustice told Sky News that rising fertiliser and feed costs had hit the farming industry, partly as a result of soaring energy prices. “The better news is that we have a very, very competitive retail market [...]
Sales slow at J D Wetherspoon as costs rocket and punters dip May 4, 2022 Sales at J D Wetherspoon dipped four per cent in the third quarter as the pub group struggles to keep pace with pre-pandemic levels.
West End set for booming recovery as tourists flock back to capital May 3, 2022 Londoners can bet on a roaring West End comeback, after Peel Hunt analysts pointed to a resilient recovery in occupier demand and rental tone. In a note yesterday, Peel Hunt said that the future looked cheery for the central London shopping and theatre destination, “despite wider uncertainty and the cost of living squeeze.” It comes [...]
BrewDog co-founder James Watt gives £100m shares to staff May 3, 2022 BrewDog boss James Watt has revealed plans to give away some £100m of shares, as the drinks firm attempts to move on from accusations of being a toxic workplace. More than 3.7m shares will be moved to an employee benefit trust while hundreds of workers will be given a stake in the Scottish brewer. Salaried [...]
Hilton marks ‘better than expected’ performance as travel demand returns May 3, 2022 Hotel operator Hilton has reaped the rewards of an international travel resurgence, posting an adjusted EBITDA of $448m for the first quarter. Demand dipped earlier in the year as a surge in Omicron Covid cases prevented many from travelling abroad. However, the easing of Covid restrictions has seen demand for travel flooding back. Hilton Worldwide Holdings [...]