Amazon Fresh: What does the expansion mean for UK supermarkets? July 28, 2020 Amazon’s announcement that it will offer free grocery deliveries for Prime customers represents a step up in competition between the internet giant and the UK supermarkets. The US company, which bought upmarket grocery chain Whole Foods in 2018, will offer free Amazon Fresh delivery in London and the South East from today. Plans are in [...]
Travis Perkins sales slump 20 per cent in first half July 28, 2020 Travis Perkins reported a 20 per cent hit to sales during the first half of the year due to the impact of the coronavirus pandemic, but said business started to recover as lockdown was eased. Group revenue in the first six months of the year was £2.78bn, down 20 per cent compared to the first [...]
UK housebuilder stocks surge on Help to Buy extension reports July 28, 2020 UK housebuilder stocks surged this morning on reports that the government is preparing to extend the Help to Buy scheme. Barratt Developments’ share price was up 5.07 per cent and Berkeley Group’s shares jumped 4.07 per cent this morning. Taylor Wimpey’s share price increased 3.29 per cent and Persimmon’s stock was up 4.06 per cent. [...]
LVMH sales slump drags down other luxury stocks July 28, 2020 Shares in luxury goods giant LVMH fell this morning after the Louis Vuitton owner posted a slump in profit and sales in the first half of the year due to the coronavirus pandemic. The French firm’s share price dipped more than four per cent after it reported a 27 per cent drop in revenue in [...]
Selfridges to cut 450 jobs due to coronavirus pandemic July 28, 2020 Luxury department store Selfridges announced this morning it will make around 450 people redundant as the coronavirus crisis claims more UK high street jobs. The retailer said it will reduce its overall headcount by 14 per cent as sales this year are forecast to be “significantly less” than 2019. The retailer will focus on strengthening [...]
London estate agent Foxtons reports widening losses after coronavirus lockdown July 28, 2020 London estate agent Foxtons this morning said it was confident in the capital’s “resilient” housing market, despite reporting widening losses for the first half of the year due to coronavirus restrictions. The figures In the half year to 30 June group revenue fell 22.2 per cent to £40.4m as the housing market was brought to [...]
Irn Bru owner AG Barr suffers revenue hit amid coronavirus crisis July 28, 2020 AG Barr, the maker of Irn Bru and Rubicon, warned this morning that full-year revenue will be down as much as 15 per cent due to trading volatility during the coronavirus crisis. The drinks manufacturer said revenue for the year ended January 2021 is expected to slump 12 per cent to 15 per cent compared [...]
Link REIT buys Canary Wharf office block for £380m July 27, 2020 Link REIT, Asia’s largest real estate investment trust, has bought a Canary Wharf office block for £380m. Canary Wharf’s 25 Cabot Square, which is occupied by Morgan Stanley, is Link’s first asset in the UK. The sale of the 17-storey building, which was previously owned by Hines, is the biggest deal to take place in [...]
Recipe box firm Gousto expects to report first annual profit in 2020 July 27, 2020 Recipe box company Gousto announced today that it expects to turn a profit for the first time this year due to a surge in demand created by the coronavirus pandemic. Gousto, which reported an operating loss of £12.5m in 2019, said it expects to announce a “significant, maiden profit” in 2020. Revenues for the first [...]
Retail footfall dips as face coverings become mandatory in English stores July 27, 2020 Retail footfall dipped slightly at the end of last week as face coverings became mandatory in English stores. Visitor numbers at retail destinations in England fell 1.7 per cent on Friday and Saturday. On Friday it became compulsory to wear a face covering in shops in England. However it is too early to identify the [...]
