Zara and Burberry shut shops in Russia while John Lewis looks to ‘mitigate exposure’ to country March 6, 2022 Fashion powerhouses have halted trading in Russia following its invasion of Ukraine, citing “operational challenges”. Luxury goods maker Burberry has temporarily shuttered its three stores in Russia, The Times reported. According to the newspaper, the designer brand’s spokesperson said Burberry would continue to monitor developments and declined to address the invasion directly. It comes after [...]
Amazon makes major U-turn by shutting all book stores and physical shops in UK March 6, 2022 E-commerce giant Amazon has said it is planning to shut all of its book stores as well as its other brick-and-mortar shops and pop-up stores in the UK and US. The shock announcement to close down all 68 book stores, as well as shops that offer toys and home goods in Britain and the US, [...]
London faces logistics space crunch as e-commerce firms take over city March 4, 2022 London would run out of available industrial space within five months, should the current take-up rate continue, amid an e-commerce boom. The capital and the South East are facing running out of industrial and logistics spaces, according to a report published today by London First, in partnership with CBRE. It comes as the pandemic has [...]
Retail property firm Hammerson closes losses as it heads towards recovery March 4, 2022 Retail property firm Hammerson posted smaller losses today and reported a 122 per cent rise in earnings for 2021, as it recovers from a collapse in retail rent during the pandemic
February retail sales perform well but warnings for mid-level retailers as living costs spike March 4, 2022 Purchases of clothes have driven retail sales growth, thanks to the easing of Covid restrictions. Total like-for-like sales swelled 49.6 per cent in February, according to the BDO’s February High Street Sales Tracker. This was from a base of minus 3.1 per cent in February 2021, when the country was in the throes of a [...]
Pubs face extra £800m in energy bills with bosses bracing for cocktail of hiked costs this spring March 3, 2022 Pubs have reported £800m in additional energy bills, with hospitality bosses warning suppliers are refusing to ink new contracts with venues. Firms have reported energy bills ballooning 150 per cent compared to pre-pandemic energy bills, with an average above 100 per cent. The British Beer and Pub Association (BBPA) said its members had reported that [...]
Fashion retailers Boohoo and ASOS suspend sales to Russia in solidarity with Ukraine as M&S suspends shipments March 3, 2022 Fast fashion retailer Boohoo has become the latest firm to announce it has suspended sales of clothes to Russia. The Manchester-based e-commerce business joins brands such as Asos and Next, as well as designer names such as Burberry, in making a stand. In a update published on the London Stock Exchange, Boohoo said it was [...]
Council says it wants to rid central London of ‘candy and tat shops’ March 3, 2022 Westminster City Council has outlined its intention to rid central London’s Oxford Street of “questionable candy and tat shops” as a part of a £150m rejuvenation. Rachael Robathan, leader of the council, tonight said “Oxford Street is Europe’s hardest hit street” by Covid and that the decline will continue without a serious intervention. Footfall on [...]
Labour calls on government to ban UK luxury goods exports to Russia March 3, 2022 Labour is calling on the government to ban the export of British luxury goods to Russia as a part of the sanctions package levelled against Vladimir Putin’s regime. Shadow international trade secretary Nick Thomas-Symonds said the government must clamp down on companies like Burberry and Vivienne Westwood selling their goods to Russia to ensure “Putin [...]
Dyson embarks on largest ever recruitment drive with 900 new UK roles March 3, 2022 Tech titan Dyson has unveiled plans today to hire 900 new engineer and IT roles in the UK. James Dyson’s firm wants to recruit 2,000 people in total this year to aid its development of new technologies across the world. It is the company’s largest ever recruitment drive, with a £600m cash injection into technology [...]