Superdry pins hopes on Black Friday sales during lockdown November 5, 2020 Superdry is cutting prices and targeting strong online Black Friday sales while its stores are closed during the coronavirus lockdown in England. The fashion retailer, which today reported that total revenue declined 23.3 per cent in the first half of the year, said it is focused on boosting ecommerce sales on Black Friday. It has [...]
Lockdown extension in December would be ‘disastrous’ for retail sector, experts warn November 2, 2020 An extension of lockdown restrictions into December would be “disastrous” for the struggling retail sector, which will have already missed out on sales at the beginning of the crucial Christmas trading period. In a note to clients this morning, broker Peel Hunt said listed retailers had balance sheets strong enough to handle the November lockdown, [...]
Online retailer The Hut Group hikes full-year revenue guidance October 26, 2020 Online retailer The Hut Group (LON:THG) said revenue this year will be stronger than previously anticipated as it entered the crucial Christmas trading period, with Black Friday expected to boost sales. THG, which raised £1.88bn when it listed on the London Stock Exchange last month, this morning raised full-year 2020 revenue guidance to between £1.48bn [...]
Tube journeys hit highest number since lockdown October 14, 2020 There were more journeys made on the Tube last week than at any point since the beginning of lockdown in March, despite the imminent prospect of new restrictions being imposed on the capital. According to data from Transport for London, there were 1.56m such journeys made last Friday, beating the previous high of 1.52m. That [...]
Amazon Prime Day piles pressure on retailers ahead of Christmas trading period October 13, 2020 Amazon Prime Day has launched today, kicking off the crucial Christmas trading period and piling the pressure on retailers to keep up with online discounting. The Amazon sale, which will see the e-commerce giant slash prices on 13 and 14 October, was postponed from July, bringing it closer to the Black Friday discounting bonanza and [...]
Ikea to buy back used furniture to resell as second hand October 13, 2020 Ikea has launched a scheme to buy back used flatpack furniture to be resold in stores as second hand. The Swedish firm announced this morning that the “Buy Back” initiative is part of its plan to “become a fully circular and climate positive business by 2030”. Customers will be given vouchers to spend in Ikea [...]
Warner Bros delays Batman as pandemic continues to weigh on film industry October 6, 2020 Warner Bros has delayed four DC films including superhero blockbuster The Batman, as the pandemic continues to wreck filming schedules and studio release dates. The dark knight’s latest installment, featuring Hollywood star Robert Pattinson, was set to be released on 1 October next year, but has now been postponed until 4 March 2022 after social [...]
Westfield’s Tudor period September 28, 2020 Stepping well and truly from the shadow of big brother Rolex, Tudor has cut the ribbon on a spectacular debut European boutique, in partnership with Watches of Switzerland, right here in London Town. Alex Doak reports When Hans Wilsdorf patented the dial name ‘Tudor’ back in 1926, little could he have known what journey it [...]
JD Sports scraps dividend as Covid-19 footfall slump hits profit September 8, 2020 JD Sports today said it would scrap its interim dividend after the sportswear brand reported a sharp fall in profit and warned of the continued impact of lower footfall. The figures JD Sports posted revenue of £2.5bn in the 26 weeks to 1 August, down 6.5 per cent on the same period last year. Pre-tax [...]
Blackrock profit trumps estimates as Wall Street bounces back from coronavirus July 17, 2020 Blackrock ended the quarter with $7.32 trillion in assets under management, up from $6.84 trillion a year earlier as profit beat predictions, it said today. The S&P 500 rose 20 per cent in the second quarter after falling by that amount in the first three months of 2020 as the coronavirus pandemic slammed the economy. [...]