M&S sales fall over Christmas quarter as lockdown hammers clothing division January 8, 2021 Marks and Spencer (M&S) saw their sales slip over the quarter leading up to Christmas as new lockdown restrictions cast a shadow over the normally lucrative season. The high street stalwart said that total sales fell 8.2 per cent to £2.5bn in the three months to 26 December. Shares in the retailer fell 1.9 per [...]
Aviation bosses demand end to quarantine after introduction of mandatory testing January 8, 2021 The aviation industry has called for the government to scrap its quarantine regime following the introduction of a mandatory testing regime. Nearly 10 months after the coronavirus pandemic began to sweep through the UK, the government has finally put in place restrictions on people entering the country. Despite consistent lobbying from the aviation industry, business [...]
Not just for Christmas: Pets at Home raises profit outlook after December growth January 8, 2021 Pets at Home has raised its full year profit guidance after recording impressive sales growth during December. The country’s leading pet care firm said that it now expected profit for the year to come in at £77m, despite the voluntary repayment of £28.9m in business rates relief. In a trading update this morning, the company [...]
Asos to create 2,000 jobs with new UK warehouse January 8, 2021 Online fashion giant Asos has pledged to create 2,000 new jobs via a £90m new warehouse in Staffordshire, the company announced this morning. The new 437,000 square ft site in Lichfield “will serve Asos’ growing number of customers in the UK and around the world”, the retailer said in a statement. Asos has seen sales soar [...]
High street suffers worst December retail sales on record as online growth slumps January 8, 2021 December retail sales were negative for the first time on record in 2020, with online purchases slumping to the lowest level since the pandemic began, in the latest blow to the beleaguered UK high street. Online sales were at their lowest level since March, increasing by 62 per cent on the previous year, and were [...]
FTSE 100 stutters after touching 6,900 but Wall Street pushes on January 7, 2021 The FTSE 100 stuttered today after touching 6,900 points this morning in yet another fast open to trading, but US markets traded higher again. London’s premier index rose 0.8 per cent at the open to stand at 6,903 points, its highest level since before the pandemic. However, traders soon slammed on the breaks, with the [...]
Debenhams shuts Irish website as Brexit ‘rule of origin’ clause leaves businesses blindsided January 7, 2021 Debenhams has shut its online business in Ireland as it is unable to send orders to the Republic of Ireland due to new Brexit trade rules. The business, which is in administration, said the website was “temporarily closed” but gave no details on if and when it would be back online. The website apologised to [...]
Ryanair cuts traffic forecasts again as carrier slams ‘brutal lockdowns’ January 7, 2021 Ryanair has cut its traffic forecast for the full financial year to 26m-30m passengers, just a fifth of last year’s number, amid the new coronavirus lockdowns. The Irish carrier said that due to new restrictions in the UK, Ireland, and parts of the EU, it would reduce flights from 21 January. Few, if any, flights [...]
Scandinavian fund EQT join race for First Group’s US businesses January 7, 2021 A Scandinavian fund has joined the bidding for transport operator First Group’s US assets, which are valued at £2.5bn. Sky News reported that EQT Infrastructure made a $3.7bn bid for the First Transit and First Student in the days leading up to Christmas. The fund, which is run by one of Scandinavia’s most powerful equity [...]
Sainsbury’s bags Christmas sales rise after online shopping boost January 7, 2021 Sainsbury’s today posted a strong rise in sales over Christmas as a record number of customers bought their shopping online. The supermarket chain said like-for-like sales were up 9.1 per cent during the festive period, despite people holding smaller gatherings due to lockdown measures. The company said it sold smaller turkeys and more beef and [...]