Coronavirus: Job retention scheme to be extended to September May 11, 2020 The government’s coronavirus job retention scheme will reportedly be extended until September at a reduced rate of 60 per cent. The furlough scheme, which currently covers 80 per cent of the wages of laid off employees up to £2,500 a month, will be reduced to 60 per cent, and will also be available to top [...]
UK lockdown: Online sales soar 109 per cent to record high May 8, 2020 Online sales soared to a record high in April after high street stores shut their doors during the UK’s coronavirus lockdown. Non-store sales surged 109.6 per cent last month, the strongest result since records began 10 years ago, after all non-essential physical stores closed. However, overall retail sales plunged 29.6 per cent during the month [...]
Long queues and no discounts: London’s West End sets out rules as 600 shops prepare to reopen May 8, 2020 West End businesses have been advised to cut opening hours and abandon in-store promotions as London’s shopping and entertainment district prepares to reopen after the UK coronavirus lockdown. Retailers have been urged to only offer sales and promotions online to avoid drawing big crowds into stores. Visitor numbers will be managed with waiting areas to [...]
UK lockdown: Consumer confidence remains ‘severely depressed’ May 8, 2020 Consumer confidence in the UK’s lockdown economy remained “severely depressed” at the end of April, although research indicated there could be some pent up consumer demand when restrictions lift. GfK’s consumer confidence index was at minus 33 at the end of April, a one-point increase on the previous score. However, consumer confidence has plummeted 20 [...]
Holiday Inn owner IHG’s occupancy levels dive to record lows during coronavirus pandemic May 7, 2020 Holiday Inn owner Intercontinental Hotels Group (IHG) said occupancy levels dropped to historic lows in March and April due to coronavirus lockdowns around the world. The hotel group said global revenue per available room plunged 25 per cent in the first quarter, with a 55 per cent drop in March. It is forecast to fall [...]
Ex-Asda boss Andy Clarke praises UK supermarkets’ ‘incredible’ response to coronavirus crisis May 7, 2020 Former Asda chief executive Andy Clarke said the UK supermarket sector had responded “incredibly well” to the challenges of the coronavirus pandemic. Clarke, who led Asda for six years before leaving in 2016, said UK grocers had managed to “get Britain back on track” after a surge in stockpiling caused product restrictions in the lead [...]
Debenhams to close five stores after dispute with landlord Hammerson May 7, 2020 Debenhams has announced it will permanently close five stores in Hammerson shopping centres after it was unable to reach an agreement with the landlord, with Next swooping in to rent some of the vacant space. The department store chain will shut its stores at Hammerson’s Birmingham Bullring, Leicester, Reading, Croydon and Glasgow Silverburn sites, affecting [...]
UK house prices dip in April as coronavirus lockdown brings market to standstill May 7, 2020 UK house prices dipped in April as property market was brought to a standstill by the coronavirus lockdown, however property expects expected buyers and sellers to return “in droves” when restrictions are lifted. UK house prices fell 0.6 per cent in April compared to the previous month, dropping to an average price of £238,511. On [...]
Coronavirus: Superdry suspends dividend and delays full-year results May 7, 2020 Superdry suspended its dividend and delayed its full-year results this morning as the retailer announced a dive in revenue due to the impact of coronavirus and the brand’s shift away from discounting. The clothing brand said its full-year results, which were due to be published on 9 July, will be postponed by five to eight [...]
UK lockdown: Shoppers spend more on booze, beauty and crafts May 7, 2020 Brits have been splashing out on tequila, crafts and their beauty and exercise regimes during the UK lockdown, according to the latest data on consumer spending. The data from John Lewis showed that sales of skincare products jumped 183 per cent and facial masks are hair treatments soared 187 per cent during the UK coronavirus [...]
