Coronavirus: Ikea opens Swedish food markets for key workers April 8, 2020 Ikea has opened the food markets at its London stores to serve key workers during the coronavirus pandemic. The Swedish retail giant has opened food halls at its Tottenham and Greenwich sites, which are located close to local hospitals. The Ikea markets will be open to NHS and emergency service workers as well as the [...]
Coronavirus: Holland & Barrett under pressure to close stores April 8, 2020 Health food shop Holland & Barrett is facing pressure to close its stores due to safety concerns amid the coronavirus pandemic. Holland & Barrett has been allowed to stay open as an essential retailer during the UK’s coronavirus lockdown. However, an online petition calling for the high street chain to shut its stores has received [...]
Asos shares jump after it raises £247m to beat coronavirus April 8, 2020 Fast fashion retailer Asos’ shares shot up today after raising £247m to strengthen its financial position amid the coronavirus crisis. The online retailer announced the fundraise last night as it warned of a “prolonged downturn” due to the outbreak. It said it has placed 15.8m new shares at a price of 1,560p per share. That [...]
Coronavirus: UK job vacancies contract for first time in more than a decade April 8, 2020 UK job vacancies contracted for the first time in more than a decade last month as the coronavirus outbreak caused demand for staff to plummet. A survey by the Recruitment and Employment Confederation and KPMG said the vacancy measure dipped below 50 for the first time since September 2009, falling to 47.8 in March. The [...]
Coronavirus: Tesco could take £925m hit on extra staff and delivery costs April 8, 2020 Tesco warned it could take a hit of up to £925m due to the impact of hiring extra staff and ramping up distribution due to the coronavirus outbreak. The supermarket this morning said it expects retail costs to increase by between £650m and £925m, but said the sales boost caused by stockpiling and business rates [...]
Heineken withdraws guidance as coronavirus dents sales April 8, 2020 Heineken has withdrawn all guidance for the year as beer volumes fell in the face of the coronavirus outbreak. The Dutch brewing company said the pandemic was having a “significant impact” on business in 2020, noting the restriction of movement, outlet closures and the lockdown of production facilities. Total consolidated volume is expected to decrease [...]
Bloomsbury to offer delivery services to independent bookshops April 8, 2020 Bloomsbury today unveiled plans to support independent bookshops that have been hardest hit by the coronavirus crisis. Indie booksellers across the country have been forced to overhaul their business models as they struggle to meet surging demand sparked by social distancing measures. Bloomsbury will offer its ecommerce platform and delivery services to bookshops whose normal [...]
Asos shares soar as retailer orders £200m equity raise April 7, 2020 Shares in Asos rose by a third today after the fashion retailer announced a bumper share sale in a bid to shore up its finances during the coronavirus crisis. Asos unveiled plans for a placing of up to 18.8 per cent of issued share capital to protect against a “prolonged downturn” caused by the pandemic. [...]
Coronavirus: Tesco builds NHS staff shop at Nightingale hospital April 7, 2020 Tesco has secured a contract to provide a pop-up shop at a new Nightingale NHS hospital, which is being constructed to treat the surge in coronavirus patients. On Sunday the supermarket began work on the first pop-up store at the National Exhibition Centre (NEC) in Birmingham, which is being transformed into a coronavirus hospital. Tesco [...]
Pub companies urged to help tenants amid coronavirus crisis April 7, 2020 Pub companies have been ordered to do more to support tenants during the coronavirus crisis, after it was revealed that most regulated firms have not offered to waive rents. The Pubs Code Adjudicator, which regulates companies that own 500 or more tenanted pubs in England and Wales, said five out of six firms had not [...]