Matalan ‘very cautious’ over impact of latest lockdown as Christmas sales drop January 18, 2021 Budget fashion retailer Matalan warned that it is “very cautious” about the coming months due to the ongoing impact of coronavirus, as it announced a drop in sales over the crucial Christmas trading period. In the five weeks to 2 January, total UK revenue was £119.2m, down from £134.3m in the previous year, as the [...]
UK and the EU have much to gain from closer collaboration on financial services January 18, 2021 Now that the UK and European Union have started a new chapter, the next few months will be critical when it comes to writing the page on future collaboration in financial and professional services. The Trade and Cooperation Agreement finally brokered by UK and EU negotiators before Christmas provided businesses and households both at home and [...]
FTSE 100 drops to October lows on recession fears January 15, 2021 The FTSE 100 sunk into the red today, capping off its worst weekly performance since the end of October amid fresh Covid woes. The blue-chip index closed down 0.97 per cent at 6,735 points after new data showed UK GDP fell 2.6 per cent in November, sparking fears of a double-dip recession. London’s main market [...]
London has lowest R rate in the UK January 15, 2021 London’s R rate has dropped to the lowest in the UK, according to the latest official figures. The rate of reproduction of the virus has dropped to a best estimate of 0.9 to 1.2, down from a range of 1.1 to 1.4 last week. The figure means London currently has the lowest R rate in [...]
Plus-size retailer N Brown’s shares drop after pandemic hits revenue January 15, 2021 Shares in plus-size fashion retailer N Brown plunged this morning after the company, which owns Simply Be and Jacamo, announced a dip in revenue due to a drop off in occasionwear sales during the pandemic. N Brown’s share price fell 13.48 per cent to 64.2p after it reported a 1.4 per cent drop in product [...]
UK set for double-dip recession as GDP plummets 2.6 per cent January 15, 2021 The UK economy shrank by 2.6 per cent in November as the Covid-19 pandemic took hold of multiple sectors across the country, according to new figures published this morning. The Bank of England estimates Britain’s economy shrank by just over 1 per cent over the final three months of 2020. With a new lockdown in [...]
Pubs and restaurants suffer festive flop as Christmas sales slump January 15, 2021 Pubs and restaurants were plunged into festive misery as tough Covid-19 lockdown restrictions prompted a slump in sales in Christmas. UK boozers and eateries saw total sales drop by almost three-quarters during what should have been the sector’s busiest trading period of the year. Drink-led pubs and bars were worst hit, with sales down 83.7 [...]
More gloom on the horizon for UK high street, think tank warns January 14, 2021 There is more gloom on the horizon for the beleaguered UK high street in the first half of this year as lockdown restrictions weaken consumer confidence, according to the latest research. The KPMG Ipsos Retail Think Tank forecast that retail health will fall by two points in the first three months of the year, as [...]
Blithe Spirit review: Judi Dench leads spooky nostalgia fest January 14, 2021 Welcome to cinema’s New Normal. While big blockbusters are optimistically waiting for us in the spring, the first quarter of the year is strategically filled with independent releases that have adopted a dual release format – in cinemas if we have them, on VOD if not. Produced by Sky, Blithe Spirit (starring Dame Judi Dench) [...]
Primark expects £1bn sales hit due to lockdown store closures January 14, 2021 Associated British Foods (ABF), the owner of Primark, said the closure of the budget fashion chain’s stores had cost the company £540m in lost sales so far, warning the total could reach £1bn due to ongoing restrictions. ABF said the loss of sales due to temporary store closures will cost the firm £1.05bn if they [...]