Co-op hands furlough cash back to government as profit doubles April 8, 2021 Co-op has announced it will repay furlough money received during the pandemic as the convenience store chain announced profit more than doubled last year. The firm will hand £15.5m back to the government it said this morning as it revealed that profit after tax and discontinued items was £77m, up from £33m in 2019, on [...]
Fighting fit: Puregym to open 10 new sites next week April 8, 2021 Puregym will open 10 new branches when lockdown restrictions are eased on Monday. The budget gym operator said the new venues – which were long-term lease commitments made before the pandemic – reflected its commitment to UK expansion. It said there is “strong and growing demand” for people to maintain and improve their health and [...]
Asos bags record profit as pandemic continues to drive sales April 8, 2021 Asos’ profit has soared to record levels as the online fashion retailer has continued to benefit from the boom in demand for online shopping during the pandemic. The ecommerce giant reported this morning that adjusted profit before tax – not including acquisition costs – hit £112.9m in the six months ended 28 February, a £82.8m [...]
Dunelm to beat profit expectations as online sales more than treble April 8, 2021 Dunelm is expecting to beat profit forecasts for the year after digital sales more than trebled during the pandemic. The furniture and interiors retailer said this morning that profit before tax will be “modestly ahead” of the top of the range of analyst expectations. Analysts have predicted that profit will reach between £120m and £125m. [...]
Bricks and mortar retailers ramp up hiring plans ahead of reopening April 8, 2021 Bricks and mortar retailers that have managed to survive, and in some cases thrive, during the pandemic have begun ramping up hiring plans ahead of the reopening date. According to the latest research, retail vacancies have climbed to within 14 per cent of their pre-Covid levels, after falling as much as 65 per cent last year. [...]
Kurt Geiger bucks retail trend to open nine new stores – including two in London April 7, 2021 Luxury footwear retailer Kurt Geiger is planning to open nine new branches when lockdown restrictions on non-essential stores end next week. Kurt Geiger, which is preparing to open all of its existing sites from Monday, will also launch new stores across the country, including two in London. The new branches will be in Stratford, Brixton, [...]
Cheers: Marston’s prepares to reopen 700 pubs from Monday April 7, 2021 Marston’s is preparing to open around 700 pubs with beer gardens from Monday, when restrictions will be lifted to allow outdoor trading. The pub chain confirmed this morning that around 70 per cent of its managed and franchised pubs in England with outdoor spaces will welcome back punters on or around 12 April. The majority [...]
British expats flee Spain to avoid deportation as post-Brexit rules turn them into illegal immigrants April 7, 2021 Thousands of undocumented British expats in Spain are heading back to the UK as they fear being fined or deported as a result of post-Brexit immigration rules in the southern European country. British nationals who failed to apply for Spanish residency documents or whose applications have been rejected are only permitted to stay up to [...]
Deliveroo strike: Riders take action over pay and working conditions April 7, 2021 Deliveroo riders across the UK are on strike today over their pay and working conditions, on the same day as the food delivery app’s first full day of trading on the London Stock Exchange. The industrial action, which has been organised by the couriers and logistics branch of the Independent Workers’ Union of Great Britain, [...]
Supermarket clothing sales double as shoppers seek retail therapy April 7, 2021 Supermarket clothing sales boomed last month as consumers sought in-person shopping experiences while non-essential retailers were closed, in a positive indicator of pent up demand ahead of high streets reopening next week. Sales of clothing at supermarkets doubled to £313m in the four weeks ended 27 March. Home and garden sales also collectively jumped to [...]