Superdry losses shrink despite subdued high street footfall September 16, 2021 Superdry said store and wholesale revenues were recovering well despite high streets remaining quiet. The fashion retailer reported a pre-tax loss of £37m for the year to April 24, compared with a £167m loss from a year earlier. Revenues fell 21.1 per cent to £556m for the year after a number of lockdowns across key [...]
John Lewis posts £29m pre-tax loss after restructuring costs September 16, 2021 John Lewis has reported a pre-tax loss of £29m for the year’s first half, after restructuring costs. However, the high street giant said its half year results ending July 31 marked a significant improvement on last year’s pre-tax loss of £635m. Profit before exceptional items was £69m, up £124m on the comparable period last year, [...]
Celebrity farmer Jeremy Clarkson urges govt to ‘ban the sale of avocados’ September 15, 2021 TV personality Jeremy Clarkson has called on the government to protect Britain’s food supplies just as the country is defended from attacks from foreign powers by its armed forces. Speaking at an event in Westminster hosted by the National Farmers’ Union (NFU) earlier today, Clarkson urged the Government to commit to not let Britain’s self-sufficiency [...]
Primark debuts targets to slash environmental impact September 15, 2021 Fast fashion chain Primark has pledged to improve its environmental impact with changes to its products and boosting workers’ wages. The retailer said it would use more recyclable materials, make sure clothing lasted longer, and raise wages for workers, all while keeping prices the same for the consumer. This is the first time Primark has [...]
Retail recovery race: Zara sales outpace rival H&M September 15, 2021 Sales at Zara-owner Inditex are almost back to pre-crisis levels, but arch-rival H&M is seeing a slower road to recovery. Watch the full report.
John Lewis to recruit 7,000 Christmas jobs September 15, 2021 John Lewis is recruiting more than 7,000 temporary roles across the UK in the run up to Christmas. The retailer is looking to hire 2,000 more workers than last year to meet increased demand. The hiring spree comes as retail bosses have expressed concern about the long-term impact of ongoing supply chain disruption including labour [...]
Deliveroo launches free delivery offer for Amazon Prime members September 15, 2021 Amazon Prime members in the UK and Ireland will be able to get free unlimited delivery through a fresh partnership with delivery platform Deliveroo. All new and existing members of the online retailer’s speedy service will now be able to access a year’s Deliveroo Plus membership for free. Customers can use the offer on orders [...]
CEOs plot acquisition spree as UK recaptures global attention September 14, 2021 With AA motoring group, Asda, Morrisons and Stock Spirits taken over by private equity firms such as CVC, the UK market has recaptured the globe’s attention, having seen an unprecedented wave of deals. Stemming from initial undervaluations due to Covid-19 and Brexit, on average, UK companies were being undervalued by around 30 per cent, according to recent data from Schroders. [...]
Ocean Outdoor records 196 per cent revenue lift as cities reopen September 14, 2021 Billboard operator Ocean Outdoor reported a revenue jump of 196 per cent after brands leapt at the opportunity to advertise across towns and cities after lockdown. Revenue for the second quarter increased to £25.9m, a huge rise on 2020’s sum of £8.8m. First-half revenue increased 11.2 per cent to £40.6m, up from £36.5m last year, [...]
Amazon hikes average starting wage to just over $18 per hour in the US September 14, 2021 Amazon has increased its average starting wage in the United States to more than $18 an hour and plans to hire another 125,000 warehouse and transportation workers. Watch the full report.