Carlsberg expects better than forecast profit as China trade bounces back July 10, 2020 Danish brewer Carlsberg said today that it expects to suffer a smaller drop in profit than previously forecast after trade in China bounced back after the coronavirus lockdown. The firm said it expects a nine per cent drop in operating profit in the second quarter compared to analyst forecasts of a 26 per cent decline. [...]
UK retailers warn shoppers face price hikes if no EU trade deal agreed July 10, 2020 Britain’s retail industry has warned that consumers could face higher prices next year if the UK is unable to reach a tariff-free EU trade deal. The British Retail Consortium said the industry could not absorb the additional costs of tariffs, meaning the hike in prices would be passed on to consumers whose finances have already [...]
UK shoppers start to return to the high street after lockdown July 10, 2020 Shoppers returned to the UK high street last month as lockdown restrictions were eased, however visitor numbers were well below pre-coronavirus levels, according to the latest data. Footfall analysis by the British Retail Consortium and Shoppertrak showed that footfall in June was down 63 per cent compared to the previous year, although this was 19 [...]
Wagamama owner The Restaurant Group says some sites will remain closed until 2021 July 10, 2020 Wagamama owner The Restaurant Group has secured a £50m government loan it said this morning as it revealed that some sites won’t reopen until next year. The Restaurant Group said today that just 25 per cent of its 400 sites will be open by the end of July, despite the government giving a green light [...]
Asian stocks drop as US coronavirus cases soar July 10, 2020 Asian stocks dipped this morning as several US states recorded soaring new coronavirus cases, sparking concern about economic recovery. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.74 per cent while Japanese stocks were down by 0.58 per cent. China’s Shanghai composite index dropped 1.5 per cent as state media discouraged retail investors from [...]
More than 5,000 retail jobs at risk as pandemic forces John Lewis and Boots to restructure July 9, 2020 More than 5,000 high street jobs could be lost as two UK retail giants announced store closures today after the coronavirus pandemic forced John Lewis and Boots to urgently restructure their businesses. John Lewis has decided not to reopen eight stores after the coronavirus lockdown, saying the sites were struggling before the pandemic. The proposed [...]
Housebuilders Persimmon and Vistry report growing customer demand post-lockdown July 9, 2020 UK housebuilders Persimmon and Vistry this morning reported a boost in customer demand since reopening sales offices after months at a standstill during the coronavirus lockdown. Persimmon said demand was “positive”, with reservations up 30 per cent year on year. The FTSE 100 firm’s share price jumped more than six per cent following the announcement. [...]
John Lewis closes eight stores putting 1,300 jobs at risk July 9, 2020 John Lewis has announced that it will not reopen eight stores after the UK coronavirus lockdown, putting around 1,300 jobs at risk. The company said this morning that the stores, which includes the department store at Birmingham’s Bullring shopping centre, had been struggling before the pandemic. John Lewis will also close its department store in [...]
Burger King boss warns over UK restaurant closures and job losses July 9, 2020 The chief executive of Burger King UK has warned that the fast food chain could close up to 10 per cent of its branches due to the coronavirus crisis, putting up to 1,600 jobs at risk. Burger King boss Alasdair Murdoch said that the burger chain could close between five to 10 per cent of [...]
Buyers return to UK housing market as lockdown lifts July 9, 2020 Buyers returned to the UK’s housing market last month as it reopened after months of standstill during the coronavirus lockdown, however activity remained low, the latest research showed. The latest survey by the Royal Institution of Chartered Surveyors found that a net balance of 61 per cent of its members reported a rise in new [...]
