Boots owner Walgreens rises earnings forecast as US vaccine rollout boosts revenue July 1, 2021 Walgreens Boots Alliance, the owner of pharmacy chain Boots, has raised its 2021 earnings growth forecast after higher pharmacy sales and Covid-19 vaccine rollouts in the United States helped it beat third-quarter revenue expectations. Walgreens had been relying on gains from administering Covid-19 vaccines to tide over losses from low prescription volumes and a weak flu season [...]
Gap to close all 81 stores in UK and Ireland July 1, 2021 American retailer Gap has confirmed it will close all its 81 stores in the UK in a phased exit and move online-only for the region. The US fashion giant said it would close the stores in a “phased manner” between the end of August and end of September. It comes just a few weeks after [...]
JD Sports raises profit outlook and announces board change July 1, 2021 Britain’s largest sportswear group raised its profit outlook for the full year to “no less than” £550m in a trading update today. JD Sports said sales in the immediate period after lockdown reopening had been “particularly encouraging”. Most of the fashion retailers 3,300 stores around the world are now open, bar some in the Asia [...]
Primark lifts profit forecast after store reopenings boost sales July 1, 2021 Primark has hiked its profit forecast for the full year after the easing of lockdown restrictions drove a sharp rise in sales for the third quarter. Parent company Associated British Foods (ABF) said profit at the budget fashion chain would be roughly in line with last year — up from previous guidance of “somewhat lower”. [...]
Revolution Bars reports recovery in trading to almost pre-Covid levels July 1, 2021 Cocktail bar group Revolution Bars said sales have surged as lockdown restrictions were lifted, and it expects revenue for the year to be ahead of previous expectations. Despite operating at 28 per cent of total capacity since indoor drinking was permitted from May 17, the group today reported that trading since that date has surged [...]
Dining: Items disappear from UK menus as supply chain disruption wreaks havoc June 30, 2021 From ketchup packets to paper bags to chicken wings, a global supply chain disruption is wreaking havoc on the dining industry, which means some items may temporarily be off the menu this summer. Watch the full report.
UK shoppers sticking with online shops despite restrictions relaxing June 29, 2021 Online e-commerce sales continued to grow in April, despite the reopening of non-essential retail across the UK. Demand for e-commerce packaging, a barometer for industry and sector performance, grew 11.7 per cent in April, despite brick-and-mortar shops reopening in the same month. This followed a 35.6 per cent increase in demand in the year up [...]
Brewdog suffers another PR mishap in ‘solid gold’ can upset June 29, 2021 A winner of Brewdog’s “solid gold” beer can has asked the advertising watchdog to investigate the brewer’s claim the can is worth £15,000. The Advertising Standards Authority (ASA) has confirmed it is looking into the matter, the BBC reported, and Brewdog stands by the valuation. Brewdog offered 10 people to chance to find what it [...]
Thousands of businesses to again pay property tax as business rates holiday ends June 29, 2021 Thousands of businesses will soon again face paying property taxes, as the business rates holiday comes to an end later this week. Last April the government paused business rates for the hardest hit retail, leisure and hospitality companies. Some 394,601 businesses benefitted from the rates holiday, which saved them around £13.8bn. But from 1 July, [...]
Restaurant delivery boxes are here to stay: We review 48 of them June 29, 2021 Before the pandemic, most top chefs would have turned their nose up at home delivery services. There’s the lack of control, the logistical nightmare, not to mention the wafer-thin margins. But necessity being the mother of invention has led to dozens of outstanding delivery services, and even with restaurants back open and looking forward to [...]