Sales at Pets at Home pass £1.4bn as Brits pick up furry companions May 27, 2021 Revenue at Pets at Home jumped nearly eight per cent in the last year, as coronavirus-led lockdowns persuaded more households to get a pet. Revenue at the pet care retailer jumped 7.9 per cent to £1.14bn in the group’s 2021 financial year. Retail revenue reached £1bn for the first time despite Covid-19 restrictions, and revenue [...]
HSBC quits US retail banking as it turns attention to Asia May 27, 2021 HSBC is withdrawing from the US retail banking market and selling parts of the loss-making business as it shifts its focus to Asia. The bank has long been trying to shrink its presence in some North American and European markets because it has struggled to compete with larger domestic players. In February HSBC unveiled a [...]
Tesco is trying to give quick delivery apps a run for their money May 26, 2021 Tesco is set to launch a new rapid delivery service which will allow the supermarket giant to shuttle orders to customers doorsteps in less than an hour. The supermarket chain will first trial the Whoosh delivery service at its Wolverhampton Willenhall Express store – assessing its potential for a wider rollout. It said that the [...]
Broadgate developer British Land posts annual loss as pandemic wipes £2bn off portfolio May 26, 2021 British Land posted its third consecutive annual loss as empty shops and offices squeezed the valuation of its portfolio. The commercial landlord said the value of its portfolio fell 10.8 per cent from £11.1bn to £9.1bn in the year ended 31 March. It reported a pre-tax loss of £1.08bn compared with a loss of £1.11bn [...]
M&S sinks to a loss as store closures hammer clothing business May 26, 2021 M&S has reported an annual loss as sales in its clothing division collapsed during the pandemic. The high street stalwart reported a £201.2m pre-tax loss in the 52 weeks to 27 March 2021, down from a pre-tax profit of £67.2m in the previous year. M&S Food sales dipped 0.6 per cent across the year with [...]
SSE profit rises as energy giant ramps up net zero push May 26, 2021 SSE today posted a rise in profit for the full year as the energy giant pushes ahead with its strategy of reaching net zero carbon emissions. The FTSE 100 firm posted adjusted profit before tax of £1.06bn in the year to the end of March, up four per cent on the previous 12 months. This [...]
Kwasi Kwarteng: Nationalisation is least likely route for Liberty Steel May 25, 2021 The UK is considering all options for Liberty Steel but nationalisation is the least likely route, the business secretary has told MPs. In March Sanjev Gupta’s company GFG Alliance, which owns Liberty Steel, asked the government for a bailout of as much as £170m to avert collapse. The insolvency of Greensill Capital, which was among [...]
Grocery sales: Ocado on top as supermarkets snag 58m more visits as UK exited lockdown May 25, 2021 As the UK’s vaccination programme pushes on, supermarkets have enjoyed 58m more shopping visits in the first quarter of this year than last year, according to industry data released today. Supermarkets actually had more visits in the 12 weeks to 16 May, than when panic buying gripped shoppers at the start of the pandemic, market [...]
Car dealer Lookers sees sales soar following April reopening May 25, 2021 Car dealership Lookers this morning said sales had soared since the reopening of non-essential retail last month. The firm said that trading across the group has been strong since 12 April, benefitting from increased consumer demand and cost reduction initiatives. Sales for new retail units in the four months to 30 April shot up 33 [...]
Made.com: Online furniture seller plots London IPO May 25, 2021 Made.com has unveiled plans for an initial public offering in London after cashing in on rapid growth during the pandemic. The online furniture retailer today said it will seek to raise roughly £100m through the issue of new shares, while the float will include an offer of shares to be sold by existing shareholders. The [...]