Consumers expect free delivery amid online shopping boom October 6, 2020 Consumers expect free delivery when buying items online, new research has shown, amid a surge in internet shopping due to the coronavirus pandemic. A survey of 2,000 UK adults found that delivery services have risen up shoppers’ agenda since the outbreak of the pandemic, with Amazon Prime the standard to which other retailers are held. [...]
Mike Ashley faces shareholder showdown over re-election as Frasers boss October 6, 2020 Mike Ashley is facing a shareholders revolt at the Frasers Group annual general meeting tomorrow, following claims that employees were forced to work while furloughed during the coronavirus lockdown. Shareholder advisory service Pirc has recommended that investors oppose Ashley’s re-election as chief executive of the retail group, which was formerly known as Sports Direct. The [...]
Hospitality circuit breaker lockdown could wipe £1bn off UK GDP, research shows October 6, 2020 A two-week circuit breaker lockdown to reduce the spread of coronavirus could cost the UK economy around £1bn and result in more hospitality job losses, the latest research showed. Ministers have reportedly mulled closing pubs and restaurants and ordering Britons to reduce social contacts for at least two weeks in a bid to halt a [...]
MPs probe fast fashion industry after Boohoo’s Leicester factory scandal October 6, 2020 The fast fashion industry will be scrutinised by a committee of MPs in the wake of Boohoo’s Leicester clothing factory scandal, after the government dismissed most of the recommendations of an initial inquiry in 2018. The Environmental Audit Committee (EAC) has today launched a follow-up inquiry into sustainability and working conditions within the fashion industry [...]
Wagamama and Frankie & Benny’s owner TRG sees central London pub and restaurant sales collapse October 6, 2020 Wagamama and Frankie & Benny's owner TRG sees central London pub and restaurant sales collapse
Chanel snaps up Bond Street boutique for £310m October 5, 2020 French luxury fashion brand Chanel has reportedly bought its boutique store on Bond Street for £310m in a vote of confidence for the central London commercial property market. Reports that the designer firm will pay around £70m above the £240m asking price for the property cements Bond Street’s status as a “safe haven”, despite plummeting [...]
Hovis receives takeover offer from Italian firm Newlat Food October 5, 2020 Italian firm Newlat Food has made an offer to buy the maker of Hovis bread from its current owners Premier Foods and US investment firm Gores Group. Newlat, which is the owner of Buitoni pasta, said this morning that the 134-year-old brand has a “great tradition and recognisability in the United Kingdom”. The acquisition would [...]
Major Boohoo shareholders fail to denounce CEO over Leicester factory conditions October 5, 2020 Boohoo’s major shareholders today failed to denounce the fast fashion firm’s bosses following a report into poor working practices at Leicester clothing factories. Leicester West MP Liz Kendall called on investment firms Jupiter, Baillie Gifford and Invesco to remove chief executive John Lyttle and executive chairman Mahmud Kamani following an independent review into working conditions. [...]
Wet weather and 10pm curfew dampens high street footfall recovery October 5, 2020 Retail footfall dropped for the second week in a row as the pub and restaurant curfew and wet weather brought further gloom for the embattled UK high street. Footfall across all retail destinations declined 3.5 per cent last week compared the previous week, dragged down by a 7.1 per cent slump in high street shopper [...]
O2 Arena to resume live events in December with Squeeze gig October 5, 2020 The O2 Arena has announced plans to resume live events for the first time in eight months in December with a gig headlined by 70s rock group Squeeze. The Cool for Cats rockers will play to socially distanced fans on Saturday 5 December in the first concert at the east London venue since it was [...]