High street retailer French Connection seeking new suitors after investment firms pull out of talks March 2, 2021 High street retailer French Connection is racing to find a new buyer after investment firms Spotlight Brands and Gordon Brothers pulled out of early-stage talks to buy the struggling chain. The fashion firm has formally launched a sales process and said it has been approached by three other suitors. It is also still in preliminary [...]
Aldi and Lidl sales growth slows as discounters struggle to compete with Big Four’s online capabilities March 2, 2021 The growth of the discount supermarkets Lidl and Aldi has slowed as the Big Four UK grocers benefitted from their more established online presence during the pandemic. German budget grocers Lidl and Aldi reported that sales were up 10.9 per cent and 5.6 per cent respectively in the 12 weeks to 21 February. However, three [...]
Online sales tax would ‘kneecap’ small retailers, startups warn March 2, 2021 The introduction of a new online sales tax would “kneecap” retailers and have a disproportionate impact on smaller businesses, UK startups have warned. In his Budget tomorrow, chancellor Rishi Sunak is expected to launch a consultation on new levies targeting online retailers such as Amazon and Asos that have seen their profits soar during the [...]
Pontins accused of racial discrimination after ‘undesirable guest list’ targeting Irish customers emerges March 2, 2021 Pontins has been accused of racial discrimination after a whistleblower revealed that the holiday park firm had used an “undesirable guest list” to block customers with Irish surnames. The company’s owner Britannia has signed a legally binding agreement with the Equality and Human Rights Commission forcing it to investigate and review its policies. The whistleblower [...]
Boohoo unaware of potential US import ban over slave labour links March 2, 2021 Boohoo today said it had not been contacted by US customs authorities, following reports that America could block the fast fashion retailer’s imports over modern slavery allegations. The e-commerce giant said it had not “received any correspondence from, nor is it aware of any investigation by, US Customs and Border Protection”. It said it “will [...]
Online sales drive another tasty six months for Hotel Chocolat March 2, 2021 Revenue and profit before tax were up at Hotel Chocolat in the six months ended 27 December, with online growth offsetting the physical reduction in retail caused by the Covid-19 restrictions. Revenue at the chocolate retailer was up 11 per cent to £101.9m and profit before tax stood at £15.5m, an increase of three per [...]
Chancellor urged to keep London economy competitive through tax measures in Budget March 1, 2021 Chancellor urged to keep London economy competitive through tax measures in budget
Brits head back to the high street as roadmap out of lockdown boosts shopper numbers March 1, 2021 The number of shoppers on the high street jumped last week, as Brits learned the details of the Prime Minister's roadmap out of lockdown.
Labour’s Anneliese Dodds hints at support for online sales tax on tech giants March 1, 2021 Shadow chancellor Anneliese Dodds has called for the government to level the taxation playing field between digital and bricks and mortar retail in a potential call for new online taxes. Dodds said at a pre-Budget address on Bloomberg that there was a “big gulf on how businesses based in bricks and businesses based on clicks [...]
Ocado opens hub in Bristol as it plans to boost UK capacity by 40 per cent March 1, 2021 Online supermarket retailer Ocado has opened a new mini customer fulfilment centre (CFC) in a bid to expand its reach across the country after a strong 2020. Supporting up to 815 jobs, the Bristol-based centre has the capacity for over 30,000 orders a week and will hep the retailer with its increased demand over lockdown. [...]