Boohoo shares continue to fall after Leicester factory worker exploitation claims July 7, 2020 Shares in fast fashion brand Boohoo plunged for the second day in a row following allegations that workers at the retailer’s factory in Leicester were paid illegally low wages. The e-commerce retailer’s shares plummeted more than 13 per cent this morning to 255.5p, after falling more than 18 per cent yesterday. The losses came after [...]
Premier Inn owner Whitbread sees tourist demand as hotels reopen July 7, 2020 Premier Inn owner Whitbread this morning reported good demand for bookings in traditional tourism destinations as it revealed that sales dropped 79.4 per cent in the first quarter of the year. Whitbread said it has reopened more than 270 UK hotels and is preparing to open the majority of its estate by the end of [...]
JD Sports calls for ‘rental realism’ as coronavirus impacts footfall July 7, 2020 JD Sports this morning warned landlords that it will seek “rental realism”, including greater flexibility in property leases, due to a reduction in footfall during the UK coronavirus pandemic. The retailer said it is “inevitable” that it will require more flexibility in order to maintain a large physical store estate in the UK and Ireland. [...]
Halfords reports cycling sales surge during UK coronavirus lockdown July 7, 2020 Halfords reported a jump in cycling sales during the UK coronavirus lockdown as Brits avoided public transport, however the boost was offset by a sharp drop in motoring sales, the retailer said this morning. Halfords, which was classed as an essential retailer and was allowed to remain open during the lockdown, said overall group sales [...]
Uber confirms acquisition of Postmates in $2.65bn food delivery tie-up July 6, 2020 Uber has bought up rival delivery app Postmates in a $2.65bn deal, the companies announced today, ending speculation of a tie-up between the pair. The all-stock deal represents only a slight increase on Postmate’s last private valuation of $2.4bn in September. Postmates will be kept as a separate app to Uber Eats, but some parts [...]
High street footfall soars on Super Saturday after lockdown lift July 6, 2020 Footfall in England hiked almost 36 per cent on Saturday evening, according to new research, as revellers flocked to high streets around the country to enjoy their first pints out after more than three months of lockdown. New data released by Springboard today showed that footfall on English high streets rose 35.8 per cent on [...]
Pret A Manger to close 30 stores after lockdown, putting 1,000 jobs at risk July 6, 2020 At least 1,000 jobs are understood to be at risk at Pret A Manger as it prepares to close 30 of its shops following a brutal lockdown. Pret has said it has suffered “significant operating losses” during the UK-wide shutdown of non-essential shops since late March. And while it has reopened 339 of its 410 [...]
Boohoo to cut suppliers in breach of conduct rules July 6, 2020 Boohoo has said it will terminate its dealings with any supplier found in breach of its code of conduct, after a newspaper investigation reported a number of violations in a Leicester factory. The fashion firm’s shares fell more than 12 per cent today as investors took stock of the Sunday Times report, which alleged workers [...]
For the sake of our economy and our culture, we need to save London’s theatres July 3, 2020 Tomorrow, large parts of London’s economy will start to reopen. Pubs and restaurants will fling wide their doors, hotels will begin to welcome guests, and museums and art galleries will once more be open for business. But not all of London will be switching back into gear. Live performances are still banned, placing immense pressure [...]
Pubs to unlock doors from 6am for 4 July reopening July 3, 2020 Pubs in England will be allowed to reopen from 6am tomorrow morning, the government has confirmed. Downing Street said most of its latest eased lockdown measures, such as reducing social distancing from 2m to “one metre plus”, will come into effect at midnight. Punters are being encouraged to pre-book tables ahead of their visit to [...]