Aldi extends Deliveroo service across London November 20, 2020 Aldi has extended its trial with Deliveroo to 130 stores across the UK, including 16 London branches. The budget supermarket announced this morning that Londoners will be able to order groceries through the Deliveroo app, to be received in as little as 20 minutes. Orders within 6km of participating stores, which include Tooting, Camden and [...]
Black Friday: Click and collect to boost retail park footfall as high streets suffer November 20, 2020 Retail footfall on Black Friday is forecast to plummet due to the closure of non-essential stores, but online stores, retail parks and shopping centres will benefit from click and collect services, according to the latest research. England is set to be the hardest hit, with footfall expected to plunge 61.7 per cent on Black Friday [...]
Smurfit Kappa taps investors for €650m to accelerate sustainability and e-commerce growth November 19, 2020 Packaging manufacturer Smurfit Kappa has announced plans to tap investors for €650m to accelerate its growth plans amid a surge in demand for online retail. The company this evening launched an equity raise, saying it had identified €1.2bn to €1.4bn of investment opportunities, including in sustainable packaging and e-commerce, to increase its competitive advantage. The FTSE [...]
China warns West on Hong Kong: ‘Their eyes will be plucked out’ November 19, 2020 China has warned the UK, US, Australia, New Zealand and Canada to stay out of its affairs after the countries accused Beijing of silencing critics in Hong Kong. The Five Eyes alliance slammed China’s introduction of new rules that allows it to disqualify elected legislators in Hong Kong. The countries yesterday called on Beijing to [...]
Jaeger and Peacocks collapse into administration, putting 4,700 jobs at risk November 19, 2020 Fashion chains Jaeger and Peacocks have collapsed into administration, putting 4,700 jobs and almost 500 shops at risk. The latest blow to the UK high street comes just weeks after the owner of both retailers began insolvency proceedings for sister brand Edinburgh Woollen Mill. Administrators have been unable to find a buyer for Jaeger or [...]
Toy stores demand to reopen or risk ‘allowing Covid to steal Christmas’ November 19, 2020 Toy stores have urged the Prime Minister to allow their shops to open as essential businesses during lockdown, or risk allowing “Covid to steal Christmas”. In a letter to Boris Johnson, toy industry chiefs warned that without bricks and mortar trade during November and December many stores will be forced to close permenantly. British Toy [...]
Mike Ashley’s Frasers Group increases stake in luxury brand Mulberry November 19, 2020 Mike Ashley’s Frasers Group has increased its stake in Mulberry, sending the luxury handbag firm’s share price up more than eight per cent this morning. Frasers Group, which was formerly known as Sports Direct, has upped its stake in the designer brand to 36.82 per cent. The group, which also owns House of Fraser, Jack [...]
B&Q owner Kingfisher expects £175m profit boost due to Covid-19 support and cost savings November 19, 2020 B&Q owner Kingfisher expects to report an extra £175m profit for the year due to temporary cost savings, including government Covid-19 support measures. The London-listed DIY firm said today that sales soared 17.6 per cent to £3.5bn in the third quarter due to a surge in people beginning home improvement projects during the pandemic. Kingfisher [...]
Snakes and Ladders: Who is moving jobs in the City this week? November 18, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of the crisis. This week, [...]
Boohoo factory saga ‘one of the worst ESG scandals’ in UK history, Leicester MP says November 18, 2020 The discovery of poor working conditions in Boohoo’s Leicester supply chain has been branded “one of the worst environmental, social and corporate governance (ESG) scandals in modern UK history”, by one of the city’s MPs. Liz Kendall, the MP for Leicester West, today again called on Boohoo’s executive chairman Mahmud Kamani and chief executive John [...]
