Exclusive: EU’s biggest hemp producer sees profits grow 616 per cent in 2020 May 3, 2021 HempFlax saw its profits before tax skyrocket 616 per cent in 2020 to €659,000, as demand grew for its construction materials and CBD. The EU’s biggest hemp grower, headquartered in Holland, saw full year revenues up 43 per cent to €14.5m in 2020, with EBITDA increasing 63 per cent to €1.8m. The numbers were in [...]
Starbucks on hiring spree for 400 new jobs across UK as demand revives May 3, 2021 High Street giant Starbucks has launched a hiring spree for 400 roles as the coffee chain has been buoyed by the easing of pandemic restrictions. Positions will be available across almost 200 sites including city-centre, suburban high street and drive-thru locations as it builds its workforce to deal with higher demand. Starbucks, which currently employs [...]
Exclusive: A heavy metal drummer working to infuse rhythmic harmony into the payments space May 3, 2021 Meet Tom Cregan, a heavy metal drummer and martial arts enthusiast who is on a mission to infuse rhythmic harmony into the world of global payments. The managing director and CEO of digital payments giant EML’s favourite part of any day as chief executive is, what he calls, finding a ”1+1=5 moment” by thinking and [...]
Bargain bin: Topshop’s former Oxford Street site on sale for £420m May 2, 2021 For years it was the jewel in the crown of Sir Philip Green’s retail empire. But with the collapse of Arcadia last November, the former home of Topshop on Oxford Street is now on the market for a cool £420m. Marketing materials seen by The Times suggest the property will offer a “new age retail [...]
Thousands hit the dance floor in Liverpool to party like it’s 2019 May 1, 2021 Thousands of clubbers returned to the dance floor last night for a Covid safety pilot event in Liverpool that saw partygoers head to a nightclub mask-free and with no social distancing. Some 3,000 individuals turned out for the event, which took place at Circus nightclub in Liverpool, and required ticket holders to provide proof of [...]
Boom time for Boohoo: Online retail giant to unveil soaring lockdown sales April 30, 2021 Boohoo is expected to reveal a surge in sales as house-bound shoppers swapped dresses for jogging bottoms. The online retailer will also unveil the initial impact of its rescue deals for the Debenhams and three Arcadia brands – Dorothy Perkins, Burton and Wallis – which it snapped up earlier this year. Investors will be hopeful [...]
Exclusive: Human error and lack of robots threaten booming e-com space April 30, 2021 The pandemic has resulted in changing consumer behaviours which may have crushed many shops and retail businesses, but it also brought about new opportunities for retailers, particularly when it comes to going expanding their reach, diversifying their clientbase and offering products and services online. However, retailers will only succeed in the space if they ensure [...]
Covid wipes £9m per hour off UK pub and restaurant sales – totalling £81bn in a year April 30, 2021 The Covid-19 pandemic has wiped £80.8bn off UK pub and restaurant sales after venues were forced to close or operate under strict restrictions for much of the last 12 months. The latest figures showed that sales from the start of April 2020 – a week after the first lockdown began – to the end of [...]
Corona Impact Series: How the chronicle of a storyteller from Dalston turned into a virtual tale April 30, 2021 In this series, City A.M. looks at the financial and economic impact of the ongoing pandemic on a range of small and medium-sized businesses across London. This week: How a creative provider of experience in East London was pushed to go entirely digital overnight, without losing its authenticity and immersiveness. “As Covid hit and the bottom fell out [...]
Nestle buys health brands from US nutrition firm The Bountiful Company for $5.75bn April 30, 2021 Food and drink giant Nestle has bought a chunk of health brands from US nutrition and supplement firm The Bountiful Company for $5.75bn. The conglomerate announced this morning that it has entered into an agreement with KKR to buy brands including Natures Bounty, Solgar, Osteo Bi-Flex and Puritan’s Pride, as well as the company’s US [...]