Coronavirus: UK retailers launch action plan to win back Chinese visitors March 5, 2020 Retailers have this morning launched a battle plan to tackle the impact of coronavirus on the sector, as a sharp drop in Chinese visitors has hurt UK high streets. The international retail sector has set up a new Association of International Retail, which has unveiled a recovery plan for the industry which will be put [...]
Tesco ramps up fight back against German discounters March 5, 2020 Tesco has ramped up the competition with the German discount supermarkets as it pledged to price match hundreds of products. The UK’s Big Four supermarkets – which also includes Asda, Sainsbury’s and Morrisons – have been shedding market share to budget rivals Aldi and Lidl. Tesco, which is the UK’s largest supermarket, suffered a 0.8 [...]
Lego builds sales with Star Wars and Harry Potter kits March 4, 2020 Lego built sales growth last year, defying the shrinking toy market, as shoppers snapped up Star Wars and Harry Potter themed kits. Revenue jumped six per cent last year to 38.5bn Danish krone (£4.48bn), up from three per cent the previous year, putting it ahead of Barbie owner Mattel and Hasbro, the maker of My Little [...]
Coronavirus: Retailers battle supply chain issues as consumers stockpile March 4, 2020 UK retailers are battling against supply chain issues as consumers rush to stockpile due to the outbreak of coronavirus. More than a third of UK households are worried about product shortages due to coronavirus, and one in 10 shoppers have started to stockpile. Almost a quarter of retailers also said that supply chain disruption is [...]
Hostelworld shares fall as it warns of £3.5m coronavirus blow March 4, 2020 Hostelworld warned the coronavirus outbreak has hurt 2020 bookings today as the virus ravages the travel sector, after slashing its 2019 dividend to invest in expansion. The Covid-19 outbreak prompted Hostelworld to warn it will take a €3m (£2.6m) to €4m (£3.5m) hit to earnings before interest, tax, depreciation and amortisation (Ebitda) in the first [...]
Intu shares plunge after it cans £1bn emergency cash call March 4, 2020 Shopping centre-owner Intu has cancelled an emergency fundraising after it was unable to persuade enough shareholders to put money into its business. Its shares crashed 38 per cent this morning to 6p following the announcement, before recovering to 9p – down 15 per cent on last night’s close. The company last month said it was [...]
Travis Perkins returns to profit despite ‘challenging market’ March 3, 2020 Building materials business Travis Perkins said today it had swung to a profit in 2019. It said operating profit was £232m, compared to a £22m loss last year. Adjusted operating profit rose 7.8 per cent to £442m, despite a “challenging market backdrop”. Revenue grew 3.2 per cent to £6.9bn, with like-for-like revenue growth of 3.8 [...]
Lidl crowned UK’s fastest growing supermarket March 3, 2020 Lidl was the fastest growing supermarket in the UK over the last 12 weeks, taking the crown from online grocer Ocado. The German discounter increased sales by 11.4 per cent in the 12 weeks to 24 February, becoming Britain’s fastest growing grocer for the first time since November 2017, as it opened its 800th store [...]
By 2025, Greggs will look beyond vegan sausage rolls for growth March 3, 2020 Greggs will consider international expansion in the next five years to continue the strong growth it has achieved in the UK, the bakery chain said today as it reported record results for last year. Chief executive Roger Whiteside said the company had not started looking at options but it has acknowledged that global expansion may [...]
Coronavirus concerns see hand sanitiser sales leap 255 per cent March 3, 2020 Coronavirus fears saw sales of hand sanitiser spike 255 per cent in February, according to supermarket data released today. Sakes of liquid soaps also rose seven per cent as shoppers hit the shelves as the number of coronavirus cases outside China rose sharply last month, research firm Kantar said. Sales of household cleaners jumped 10 [...]