Total joke: High street firms left in the dark as councils hold back on £1.5bn rates relief March 3, 2022 Hundreds of thousands of businesses have been left waiting almost a year to receive support through a £1.5bn business rates relief fund. The fund was to be distributed by local authorities to businesses impacted by the pandemic but outside of the retail, hospitality and leisure sectors. Distribution has turned into a postcode lottery with business [...]
Retail recovery in ‘sweet spot’ last month as cost of living could discourage shoppers March 3, 2022 High street experts were pleasantly surprised at the robustness of retail footfall last month, but have warned the cost of living crunch may soon deter shoppers. Footfall strengthened a little in February over the month as a whole, to -20.7 per cent below pre-pandemic levels, from -20.8 per cent in January, according to retail experts [...]
Fitbit recalls more than a million smartwatches amid burn injuries March 2, 2022 Fitbit has recalled more than a million of its Ionic smartwatches after reports that some users are being burned from overheating batteries. The U.S Consumer Product Safety Commission (CPSC) said today that Google-backed Fitbit had received at least 115 reports in the United States and 59 from abroad about the issue. “These incidents are very [...]
Shop price inflation hits highest rate in more than a decade March 2, 2022 Shop price annual inflation surged to the highest rate since November 2011 last month, as households’ concerns about the cost of living increases. The rate hit 1.8 per cent in February, an increase from 1.5 per cent in January, according to the British Retail Consortium (BRC) and NielsenIQ. Non-food inflation surged to 1.3 per cent [...]
Just Eat revenue jumps a third as it mulls pulling out of Portugal and Norway March 2, 2022 Just Eat Takeaway.com enjoyed a revenue jump of more than a third in 2021, dwarfing its pandemic figure by some €1.3bn (£1bn). The Amsterdam-based delivery giant pulled in €5.3bn (£4.4bn) in the 12 months, up from €4bn (£3.3bn) in 2020 when it reaped the rewards of homebound consumers itching to eat out under lockdown restrictions. [...]
Hotel Chocolat’s profits surge following brand appeal increase in key markets March 2, 2022 Chocolate brand Hotel Chocolat has registered a surge in profits following a brand appeal increase in key markets like the UK, Japan and the US. In the 26 weeks ended 26 December, the group’s profit before tax was up 56 per cent to £24.1m, while the underlying EBITDA grew 35 per cent, from £24.9m to [...]
No more iPhones for Muscovites: Apple pulls all of its products from Russia over Ukraine invasion March 2, 2022 Phone giant Apple said early this morning it has stopped selling iPhones and other popular products in Russia in response to the ongoing conflict in Ukraine. The company is one of the latest major corporations to boycott the country following the invasion ordered by Russian president Vladimir Putin last week. Fellow tech giants Google and [...]
Sainsbury’s to shut 200 cafes as it eyes more Starbucks in stores March 1, 2022 Sainsbury’s has announced it will close 200 cafes in its stores this year as it attempts to rival discount retailers. The supermarket said 200 Sainsbury’s cafes will close to customers in the spring this year while it will roll out 30 food halls and 30 Starbucks cafes. Around 2,000 staff will be impacted by the [...]
UK bars refuse to sell Russian vodka in show of solidarity to Ukraine March 1, 2022 Several bar operators have said they will not serve Russian vodka amid the Russian invasion of Ukraine. Businesses including London Cocktail Club-operator Nightcap Group and Arc Inspirations said they were removing Russian vodka and other alcohol brands from their sites. Bosses said they wanted to show solidarity with Ukrainians caught up in the unfolding conflict. [...]
Discount retailers benefit from cost of living crunch as shoppers head to Aldi and Lidl March 1, 2022 Grocery price inflation hit a new high of 4.3 per cent last month, with budget supermarkets luring shoppers in as the cost of living intensifies. Fresh data from Kantar reveals the fastest rate of inflation since September 2013, with the exception of the start of the pandemic when households panic bought essentials. Aldi and Lidl [...]