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, [...]
Goldman Sachs and Citi slash UK GDP forecasts on news of second lockdown November 2, 2020 Goldman Sachs and Citi have sharply cut its economic forecasts for the UK in the fourth quarter following news of a fresh national lockdown in England to curb the second wave of coronavirus infections. In a client note, Goldman analysts said the US investment bank now expects UK GDP to shrink 2.4 per cent in [...]
Ocado to make $300m in acquisitions as digital grocer bumps forecasts November 2, 2020 Digital grocer Ocado has announced two acquisitions worth nearly $300m (£232m) and bumped up its full year earnings forecast, it announced this morning. The retail darling said that it had continued to see strong sales growth during the third quarter as people stuck to digital shopping amid to the coronavirus pandemic. Shares in Ocado rose [...]
Weekly outlook, 2-6 November: FTSE heavyweights in spotlight as election day arrives November 2, 2020 It’s election day at last, and while the outcome of Tuesday’s vote in the US will drive the headlines for much of this week and beyond, there’s still a full slate of results and economic updates in store for UK markets. With coronavirus cases now surging at an alarming rate, Boris Johnson has announced a [...]
West End braces to lose £2bn in Christmas sales due to new lockdown November 2, 2020 Retailers in London’ shopping district are set to lose up to £2bn in sales across the eight-week period up to Christmas, new data released today has found. According to the New West End Company, only 9m people will visit the West End in the festive season due to the new month-long lockdown. Previously the group, [...]
Lockdown could last beyond 2 December, Michael Gove warns November 1, 2020 England’s new lockdown could last for more than a month, Michael Gove confirmed this morning. Speaking to Sky News, the minister for the Cabinet Office confirmed that the restrictions could be extended beyond 2 December, when they are due to come to an end. The decision will depend on whether the “R-rate” has been sufficiently [...]
Coronavirus: England set for national lockdown, PM says October 31, 2020 Prime Minister Boris Johnson tonight ordered England back into a national lockdown
What Nutshell’s Mohammad Paknejad has learned from Covid October 31, 2020 Who are you and what do you do? I am Mohammad Paknejad, director of Nutshell, a modern Iranian Restaurant in Covent Garden. My wife, Marwa Alkhalaf and I have been operating the restaurant since we opened last July. How are things? The last six months have changed a lot at Nutshell. It’s our first restaurant, [...]
John Lewis hints at Christmas advert as retailer launches £5m charity initiative October 31, 2020 John Lewis has hinted at the content of its highly anticipated Christmas advert as it launched a charity campaign to feed more than 100,000 families over the festive period. The department store chain, which also owns Waitrose, will kick start an appeal in November to raise £5m for Fareshare and Home-Start to provide food, support [...]
Nightclub owner Deltic puts itself up for sale as cash dries up October 30, 2020 The UK’s largest nightclub owner Deltic Group has put itself up for sale after months of closure due to the Covid-19 crisis has driven it to the brink of collapse. Deltic, which owns brands including Pryzm and Atik, has begun a sale process while it considers other options, including a company voluntary arrangement, in a [...]