B&Q owner Kingfisher signs £550m credit deal linked to sustainable targets June 2, 2021 Kingfisher has signed a £550m three-year credit deal that will see it benefit from a lower interest rate on the loan if it delivers specific targets to help tackle climate change. Kingfisher, which also owns Screwfix, has updated its climate change targets to reduce emissions by 2026 in a way that will not contribute to [...]
Save the quintessential British pub by lowering beer duty, MPs urge June 2, 2021 A cross-parliamentary group of MPs has urged the government to reduce tax burdens on pubs and brewers, to help them get back on their feet after a particularly difficult year for hospitality. The All-Party Parliamentary Beer Group (APPBG), which is made up 16 MPs from various parties, has urged the government to consider lowering duty, [...]
Food could be about to get more expensive after more muted price falls in May June 2, 2021 Prices in shops fell again in May, as bargain hunters benefitted from lower prices, however price rises could be on the cards in the near future, the BRC has warned. Shop prices fell 0.6 per cent year-on-year last month, marking the slowest rate of price declined since February 2020. On average, in the last six [...]
Brits to splurge an extra £9bn on holidays next year once Covid-19 restrictions ease June 1, 2021 Lockdown savings will allow Brits to splurge an extra £9bn on travel next year, taking the predicted tally for 2022 holidays to £108bn.
Made.com: Online retailer confirms plans to raise £100m in London IPO June 1, 2021 Made.com has confirmed plans to list in London later this month after capitalising on the shift to e-commerce during the pandemic. Last week the online furniture retailer unveiled plans for a float and today confirmed it plans to raise £100m, and the offer will include an offer of existing shares to be sold by existing [...]
Booming sales at Wickes as locked down Brits turned their hands to DIY June 1, 2021 Sales at Wickes boomed in the six months to 22 May, as a nation under lockdown restrictions got creative with DIY and home renovations. In a trading update this morning, the retailer, which sells various home improvement products, revealed like-for-like growth jumped some 46 per cent on the same period in 2020. Following better [...]
West End gets bank holiday boost as shoppers flock to central London June 1, 2021 Shoppers flocked to London’s West End over the bank holiday weekend, keen to make the most of shops, restaurants and bars in the sunshine. Footfall in the area was up 67 per cent over the bank holiday weekend when compared with last weekend’s figures, data from New West End Company found, which represents 600 retail, [...]
JD Sports hits back at speculation that its executive chairman is leaving June 1, 2021 JD Sports has today hit back at weekend media speculation that its executive chairman is leaving the helm of the retail chain. The retail chain confirmed this morning in a statement that its senior board member, Peter Cowgill, will remain in the position. JD also said that it had not engaged in any process to [...]
Hospitality: A quarter of Britain’s pubs and restaurants still to reopen after lockdown May 31, 2021 One in four of Britain’s restaurants, pubs, bars and other licensed premises have yet to reopen despite the return of inside service. Around 25,000 venues across Britain are still shut, according to new hospitality data from CGA and AlixPartners, shared with City A.M. this morning. The data shows similar trading numbers in England (76.6 per cent) and Scotland [...]
H&M majority-owned second-hand shop Sellpy expands across 20 more EU countries May 31, 2021 Majority-H&M-owned online second-hand shop Sellpy is set to expand its stores across 20 more European countries, the company said today. The Swedish start-up, which picks up the goods from sellers’ homes, and photographs and sells them online, will now be available in a total of 24 markets after launching in 2014. The second-hand market is [...]