Pubs and restaurants suffer festive flop as Christmas sales slump January 15, 2021 Pubs and restaurants were plunged into festive misery as tough Covid-19 lockdown restrictions prompted a slump in sales in Christmas. UK boozers and eateries saw total sales drop by almost three-quarters during what should have been the sector’s busiest trading period of the year. Drink-led pubs and bars were worst hit, with sales down 83.7 [...]
Ladbrokes owner Entain ‘lines up’ first female gambling boss January 14, 2021 Ladbrokes owner Entain is said to be lining up the first female chief executive of a major listed UK gambling firm as it pushes back against a £8bn takeover approach from MGM. Entain, formerly known as GVC, is in advanced talks to appoint board member Jette Nygaard-Andersen as its new boss, Sky News reported. It [...]
Barilla buys British fresh pasta maker Pasta Evangelists January 14, 2021 Barilla said on Thursday it had bought a majority stake in Britain’s Pasta Evangelists, re-entering the fresh pasta market and boosting its digital offering at time when the pandemic is driving demand for home deliveries of food and drinks. The companies did not disclose the financial details of the deal, but two sources close to the [...]
More gloom on the horizon for UK high street, think tank warns January 14, 2021 There is more gloom on the horizon for the beleaguered UK high street in the first half of this year as lockdown restrictions weaken consumer confidence, according to the latest research. The KPMG Ipsos Retail Think Tank forecast that retail health will fall by two points in the first three months of the year, as [...]
888 to beat profit expectations as betting shop closures accelerate shift to online gambling January 14, 2021 Online gambling platform 888 Holdings expects to beat profit and revenue expectations for last year after more customers signed up while betting shops were closed during the coronavirus pandemic. 888 said today that revenue and adjusted earnings before interest, tax, depreciation and amortisation will be “moderately ahead” of previous forecasts. The betting site said the [...]
London landlord Great Portland Estates confident capital will bounce back after Covid January 14, 2021 London commercial landlord Great Portland Estates reported that tenants have struggled to pay their rent due to the impact of lockdown measures on trading, but said the Covid-19 vaccination programme is the light at the end of the tunnel. December quarter rent collection was ahead of September levels, with Great Portland Estates receiving 77 per [...]
Primark expects £1bn sales hit due to lockdown store closures January 14, 2021 Associated British Foods (ABF), the owner of Primark, said the closure of the budget fashion chain’s stores had cost the company £540m in lost sales so far, warning the total could reach £1bn due to ongoing restrictions. ABF said the loss of sales due to temporary store closures will cost the firm £1.05bn if they [...]
Boohoo enjoys strong growth but admits Brexit will drive up costs January 14, 2021 Brexit is likely to drive up prices at Boohoo, with additional costs largely relating to distribution and administration to blame. In a market update this morning the online retailer said it had implemented a system that was designed to minimise the impact of Brexit on its European customers, and it would try to mitigate extra costs [...]
Tesco adds £1bn in online sales as customers splash out over Christmas period January 14, 2021 Tesco added an extra £1bn in online sales in the run-up to Christmas as new lockdown measures accelerated the shift to digital shopping. The supermarket said online sales growth surged more than 80 per cent in the 19 weeks to 9 January, and orders have continued to grow after the festive season. Tesco broke its [...]
Premier Inn owner Whitbread confirms 1,500 job cuts amid restructuring January 14, 2021 Premier Inn owner Whitbread (WTB) has confirmed 1,500 job cuts following a restructuring of its hotel and restaurant operations as sales tumble amid lockdown restrictions. While the restructure had led to 1,500 job cuts, it is far lower than the 6,000 it had projected in September. The group, which also owns Beefeater and Brewers Fayre, [...]