Very.co.uk enjoys record-breaking Christmas period January 12, 2021 Very.co.uk increased sales by 25 per cent year-on-year in the seven weeks leading up to Christmas, recording its best ever figures over the holiday period. Home and electrical goods were the standout categories for the online retailer, up 46 per cent and 45 per cent respectively. Among the top selling items were bedding and soft [...]
Retail sales suffer worst year on record as lockdowns bite January 12, 2021 UK retail sales suffered their worst year on record in 2020 as Covid-19 lockdown measures decimated customer numbers. In-store sales of non-food items — which includes all non-essential retailers — dropped by almost a quarter last year compared to 2019. For 2020 overall, total sales declined 0.3 per cent on the previous year, marking the [...]
British Land ‘bruised but not broken’ despite collecting less than half of rent from UK retailers January 11, 2021 British Land will emerge from the pandemic intact despite collecting less than half the rent it is owed for December, according to a City analyst.
Ocado sounds alarm on product availability as supermarket shelves stand empty January 11, 2021 Ocado has warned that the availability of some products is being impacted by coronavirus-related staff absences in its supply chain. With more staff off sick or forced to isolate some grocery suppliers are having to consolidate their lines. “Staff absences across the supply chain may lead to an increase in product substitutions for a small [...]
New year, same lockdown: UK shopping trips fall 27 per cent in first week of January January 11, 2021 New year, same lockdown: UK shopper numbers fall 27 per cent in first week of January
JD Sports shares pop as firm raises profit outlook January 11, 2021 Sportswear giant JD Sports saw its shares rise 4.6 per cent this morning after the firm announced that full-year profit would “significantly ahead” of estimates. In a trading update, the FTSE 100 firm said that “robust” sales during the pandemic would see it come in ahead of the £295m forecast. That’s despite the fact the [...]
FCA approves world’s first air travel revenue hedging system January 11, 2021 The UK’s financial regulators has approved Airbus subsidiary Skytra’s Air Travel Price Indices, a key step in allowing airlines to manage revenue volatility. Through building the world’s largest air ticketing database, the firm has developed a set of regulated benchmarks based on US$ per Revenue Passenger Kilometre ($/RPK). This represents the price of air travel [...]
Chancellor Rishi Sunak: The City could be set for a post-Brexit Big Bang 2.0 January 11, 2021 Rishi Sunak believes the Square Mile is set for a post-Brexit “Big Bang 2.0” and that the City’s “culture and creativity” will see it to greater, global heights. In a candid interview with City A.M., the Chancellor also pushed back against criticism of the UK’s trade deal with the European Union, saying that it should [...]
The week ahead, 11-15 January: FTSE housebuilders, Asos, Tesco and UK GDP January 10, 2021 London’s markets started the new year in a frenzy last week, picking up over five per cent and closing the gap on their counterparts around the world. This week is set to be a busy one for the FTSE, with a raft of companies due to provide updates, as well as key economic data in [...]
Covid-19 lockdown: Government tells public to ‘act like you have the virus’ January 9, 2021 The government has instructed the public to act like they have got the coronavirus and adhere to Covid-19 lockdown rules amid fears that the NHS is struggling to cope with the influx of new cases. A new advertising campaign has been launched reinforcing the “stay at home” message, in a bid to stem the transmission [...]