Debenhams could return to the high street to land beauty deals for Boohoo June 16, 2021 Boohoo is reportedly in talks about opening a Debenhams store to land deals with beauty and cosmetic brands that want to operate with a physical presence. Boohoo chief executive John Lyttle told The Times that if the talks came to fruition one small Debenhams store would return to a high street just outside of London. [...]
Road to recovery: FTSE 100 closes at highest point since the start of the pandemic June 15, 2021 The FTSE 100 has returned to its highest point since the start of the Covid-19 crash that wiped hundreds of billions of pounds off the index last year. The market ticked back up to 7,172.48 after gaining another 25.8 points on Tuesday, a 0.4 per cent rise. It means that the index is currently at [...]
Sales at H&M soar as restrictions ease but lag behind pre-pandemic levels June 15, 2021 Sales at H&M jumped in the retailer’s second quarter of 2021, however they remained well below the pre-pandemic sales recorded during the same period in 2019. Between 1 March to 31 May 2021, net sales at the clothing retailer grew 62 per cent in the period from a year earlier, or 75 per cent measured [...]
On the Beach revenue plummets as travel restrictions batter sales June 15, 2021 Online holiday retailer On the Beach saw its revenue sink in the six months to March 2021 as lockdown restrictions hit sales. The company posted an adjusted group revenue of £12m during the half year, some 77 per cent lower than the £52.8m reported in the same period in 2020. Group gross profit also plunged [...]
Hospitality chiefs call for more clarity as ‘freedom day’ set for delay June 14, 2021 The owner of the Franco Manca Pizza chain David Page has warned the “lack of concrete delay” to the government’s lockdown easing roadmap is the biggest problem facing the hospitality sector. Boris Johnson is expected to announce a four week delay to so-called “freedom day” later today, just a week before the 21 June date [...]
Ted Baker turnaround slows, swallowing £278m revenue loss and sales dive June 14, 2021 Covid-19 restrictions curbed customer footfall and bag sizes, which has sent ripples through fashion brand Ted Baker over the last year as it invested in pandemic turnaround measures. The brand swallowed a revenue loss of £278.5m in the year to 30 January, down 44 per cent as it bagged £352m in total. Ted Baker also [...]
Will rapid delivery apps maintain post-pandemic momentum? June 12, 2021 Since the pandemic began, a slurry of quick delivery apps have emerged with the same promise to deliver food within 30 minutes, while the pandemic made supermarkets an even more costly chore. The pandemic pushed the pedal on rapid delivery apps like Weezy, Dija, Getir and Gorillas – a sector where a huge amount of [...]
Queen’s Birthday Honours: the full 2021 list June 12, 2021 Below the full list of names for this year ORDER OF THE BRITISH EMPIRE Knights Grand Cross of the Order of the British Empire (GBE) The Rt. Hon. Frederick Richard Penn Curzon, The Earl Howe. For political and parliamentary service. (Amersham, Buckinghamshire) ORDER OF THE BATH Knights Commander of the Order of the Bath (KCB) [...]
Morning Digest: What’s shaping today’s business agenda June 11, 2021 Here’s City A.M.’s look at what the business world is talking about this morning. The bounceback begins:Britain’s economy grew by 2.3 per cent in April as the country took the first tentative steps back to normality. Services unsurprisingly saw the biggest boost and the top-line number would have been higher had it not been for [...]
Cheers! Naked Wines sales surge 68 per cent on strong US performance June 11, 2021 Naked Wines has been one of the few winners during the pandemic, reporting a surge in both customers and sales off the back of a strong performance in the US. With pubs and bars shut for most of the year, the online wine retailer reported a 68 per cent increase in annual sales to £340.2m. [...]