Heal’s sales hit record levels as furniture firm’s online offer grows April 11, 2022 Furniture firm Heal’s sales hit record levels last year, surpassing £50m for the first time in its two-century history. The company said yesterday gross sales jumped 27 per cent against the previous year, as its online division gathered steam. Although its six bricks-and-mortar stores were shuttered for months on end due to Covid lockdowns, the [...]
Whitbread boss gives up £729k bonus after Premier Inn owner faces furlough criticism April 11, 2022 The outgoing chief of Premier Inn has relinquished a £729,000 bonus after a row over furlough cash. The Times reported that Whitbread’s chief executive Alison Brittain gave up the deferred bonus after the FTSE 100 firm was criticised for taking £370m in furlough cash and rates relief which it has not repaid. Brittain, the chief [...]
Pret A Manger plots dozens of new sandwich shops in Republic of Ireland and Northern Ireland debut April 11, 2022 Sandwich chain Pret A Manger has announced plans to open up stores in the Republic of Ireland and Northern Ireland for the first time. The new openings follow an agreement of terms being reached with franchise partner Carebrook Partnership Ltd. Some 20 Pret shops will be opened across the island, creating some 500 jobs, the [...]
Walgreens faces losing billions on Boots sale as former suitors CVC and Bain suggest lower price tag April 11, 2022 The US pharmacy giant behind Boots could lose out on billions after the chemist was valued much lower than initially hoped. Walgreens has been eyeing a £7bn sale of the UK company, however a consortium involving private equity firms CVC and Bain withdrew from takeover talks in March. According to The Telegraph, the two former [...]
Heathrow marks highest passenger numbers since start of Covid April 11, 2022 Heathrow Airport revealed the number of passengers in March hit its highest level since the start of the pandemic. After the government scrapped all travel restrictions earlier this year, enthusiasm to travel rebounded strongly, the airport said this morning. Demand was being driven by “outbound leisure at weekends and during school holidays, as Brits make [...]
Travel and tourism firms drive February GDP growth as pace slows April 11, 2022 The UK marked a slower pace of GDP growth in February versus the month prior, with drops in production and construction. According to figures from the Office for National Statistics (ONS), GDP grew by 0.1 per cent in February 2022, after 0.8 per cent growth in January. The services industry, which grew 0.2 per cent, [...]
Rent roll soars for Sirius Real Estate in wake of BizSpace takeover April 11, 2022 Industrial park operator Sirius Real Estate has said its rent roll hit €167m last year after snapping up BizSpace in the UK. The real estate owner said the acquisition of BizSpace in November 2021 had provided the firm with “geographic diversification.” Andrew Coombs, chief executive officer of Sirius Real Estate said the established operating platform [...]
Sainsbury’s becomes first big grocer to pay London Living Wage amid cost of living crisis for Brits April 8, 2022 Sainsbury’s has confirmed that it will become the first major supermarket to pay the London Living Wage. Shop workers at Sainsbury’s and Argos stores in outer London will receive £11.05 per hour, a boost of 55p, from next month. The supermarket said this means staff in the outer areas of the capital will match employees [...]
Exclusive: Huge rates hike for logistics warehouses as Amazon bill to rise more than £1m April 8, 2022 Occupiers of logistic warehouses are braced for a dramatic rates hike, data shared exclusively with CityA.M. has revealed. With e-commerce firms desperate to grab space, rents in the industrial and logistics sector have shot up. Rental growth means will see average increases of 18.7 per cent across the board on business rates payable from April [...]
Retailers enjoy spring boost after first full month without Covid restrictions April 8, 2022 Good weather and an eagerness to refresh wardrobes for spring has fuelled boosted retail footfall and sales, data revealed today. The first full month without Covid restrictions in England and Northern Ireland saw consumers “able to shop with a greater sense of normality, spurred on by some spring sunshine,” the British Retail Consortium (BRC)’s chief [...]
