Warehouse boom amid online shopping frenzy as construction bill hits highest level since 1985 April 11, 2022 The UK is in the throes of a warehouse boom after roaring demand for e-commerce businesses was accelerated during the pandemic. The Office for National Statistics (ONS) revealed on Monday that the UK’s transport, logistics and warehousing sector has almost doubled since 2011. This makes it the country’s fastest-growing sector, outpacing information and communication. Logistics [...]
Heal’s sales hit record levels as furniture firm’s online offer grows April 11, 2022 Furniture firm Heal’s sales hit record levels last year, surpassing £50m for the first time in its two-century history. The company said yesterday gross sales jumped 27 per cent against the previous year, as its online division gathered steam. Although its six bricks-and-mortar stores were shuttered for months on end due to Covid lockdowns, the [...]
Events group Ascential eyes break up and US listing April 11, 2022 London-listed media and events group Ascential has confirmed today it is exploring spinning off a section of its business, after reports that it was looking to float its digital assets in the US.
Retailers enjoy spring boost after first full month without Covid restrictions April 8, 2022 Good weather and an eagerness to refresh wardrobes for spring has fuelled boosted retail footfall and sales, data revealed today. The first full month without Covid restrictions in England and Northern Ireland saw consumers “able to shop with a greater sense of normality, spurred on by some spring sunshine,” the British Retail Consortium (BRC)’s chief [...]
Levi’s chief: Globalisation is dead and supply chains should look closer to home April 7, 2022 Levi’s boss has said companies should look to produce goods closer to their target market. Chip Bergh, the president and CEO of Levi Strauss, has said a trend of chasing the “lowest-cost manufacturing base around the world” is coming to an end. “The name of the game today is supply chain resilience and agility,” Bergh [...]
Primark launches ‘virtual shop window’ but shoppers still can’t buy clothes online April 7, 2022 Primark has launched a new website – but shoppers still can’t buy anything online. The budget fashion retailer said its new site is a “virtual shop window,” and will allow customers to look at product information and check whether an item is in stock at their local shop. The high street name has stood out [...]
Cazoo reports record year as company not impacted by inflationary pressures April 7, 2022 Ongoing inflationary pressures will not impact online car retailer Cazoo, its chief executive Alex Chesterman said yesterday. “Used cars have historically [pushed] in a recessionary environment, while new cars tend to be much more affected,” Chesterman told analysts during a call. “[New cars] are a luxury purchase whereas used cars are functional.” The company said [...]
‘Let people invest’: Matt Hancock makes case for liberal crypto rules April 7, 2022 Matt Hancock, the former health secretary, has come out in favour of permitting mass crypto adoption in the UK.
Fast fashion retailer Shein hits $100bn valuation with fresh funding round April 6, 2022 Fast-fashion giant Shein has hit a $100bn valuation this week after a fresh funding round, making it the third most valuable startup in the world after Elon Musk’s SpaceX and ByteDance.
Moss Bros to open new shops as sales climb up for suits retailer April 5, 2022 Suits retailer Moss Bros has revealed plans for new shops after the retailer said trade had been boosted after it launched a range of casual clothes. The men’s formalwear chain, which hosts an estate of around 100 stores, reported a £93.1m turnover for the year to January. This was compared to pre-pandemic turnover of £128.3m, [...]