Ex-CEO of Coca-Cola EU and founder of Café Rouge join Deliveroo’s board April 28, 2021 Deliveroo has confirmed a board shuffle today by hiring two new non-executive directors, to help keep up with its growing partnerships. Dominique Reiniche and Karen Jones are set to join the board, just as the company is to ramp up its online delivery capabilities with Waitrose. “They join at an important time for Deliveroo as [...]
Fashion retail sales rebound as shoppers invest in post-lockdown outfits April 9, 2021 Fashion retail sales soared last month as the sector, which has struggled during the coronavirus pandemic, was buoyed by shoppers investing in post-lockdown outfits. Total like-for-like fashion sales jumped 57.5 per cent in March – from a base of minus 25.9 per cent in the same month last year. This marks the first positive result [...]
Markets: Indexes in London and New York push further into record territory April 8, 2021 FTSE roars to highest levels since February 2020 as Wall St inches up
End of lockdown: Most UK shoppers feel safe about returning to the high street on 12 April April 8, 2021 Most consumers feel safe returning to the high street, the latest research has shown ahead of non-essential retailers reopening on 12 April. According to a survey by Deloitte, 56 per cent of shoppers will feel safe about coronavirus risks when heading out to the high street next week, a 16 percentage point increase compared to [...]
Retirement property developer McCarthy Stone secures £200m to expand rental offering April 8, 2021 Retirement property developer McCarthy Stone has secured £200m in financing to expand its rental portfolio. The finance will be provided jointly by John Laing and Macquarie Capital, and will help the UK developer expand its rental properties to “a growing aging population”. Brigid Investments Limited, a special purpose vehicle formed by John Laing and Macquarie [...]
Debenhams to reopen stores for final sale ahead of move to online April 8, 2021 Debenhams is set to reopen its stores next week to complete its final closing down sale, as the store moves online. The sale, on 12 April, forms part of the high street retailer’s final stock liquidation process and will continue until the stock is fully cleared. “This is the last chance for customers in England [...]
Co-op hands furlough cash back to government as profit doubles April 8, 2021 Co-op has announced it will repay furlough money received during the pandemic as the convenience store chain announced profit more than doubled last year. The firm will hand £15.5m back to the government it said this morning as it revealed that profit after tax and discontinued items was £77m, up from £33m in 2019, on [...]
National Grid pays watchdog £1.5m after inaccurate electricity forecasts April 8, 2021 National Grid Electricity System Operator (ESO) will pay Ofgem £1.5m after failing to provide accurate electricity demand forecasts back in 2017. One of the key roles of the firm, which is responsible for the transmission of electricity across the UK’s networks, is to provide suppliers with seven day forecasts for power demand. However back in [...]
Lookers set to beat profit forecasts after ‘resilient’ lockdown performance April 8, 2021 Car dealership Lookers today said that full year profit would come in “materially ahead” of the £22.6m predicted by analysts after a better than expected performance in the first quarter. The announcement sent shares into overdrive this morning, with the company’s stock up 13.3 per cent as markets opened. The FTSE 250 firm, which has [...]
Asos bags record profit as pandemic continues to drive sales April 8, 2021 Asos’ profit has soared to record levels as the online fashion retailer has continued to benefit from the boom in demand for online shopping during the pandemic. The ecommerce giant reported this morning that adjusted profit before tax – not including acquisition costs – hit £112.9m in the six months ended 28 February, a £82.8m [...]