Boom time for Boohoo: Online retail giant to unveil soaring lockdown sales April 30, 2021 Boohoo is expected to reveal a surge in sales as house-bound shoppers swapped dresses for jogging bottoms. The online retailer will also unveil the initial impact of its rescue deals for the Debenhams and three Arcadia brands – Dorothy Perkins, Burton and Wallis – which it snapped up earlier this year. Investors will be hopeful [...]
Exclusive: Human error and lack of robots threaten booming e-com space April 30, 2021 The pandemic has resulted in changing consumer behaviours which may have crushed many shops and retail businesses, but it also brought about new opportunities for retailers, particularly when it comes to going expanding their reach, diversifying their clientbase and offering products and services online. However, retailers will only succeed in the space if they ensure [...]
Business rates appeals soar as property experts slam government’s ban on Covid-19 review requests April 30, 2021 Business rates appeals have soared since the beginning of the pandemic, with experts branding the government’s decision to block reconsiderations based on Covid-19 as a “material change of circumstance” as a “disgrace”. The latest figures showed that, between 1 April last year and the end of March 2021, 409,430 checks had been lodged by firms, [...]
How strong might the UK’s post-Covid economic recovery be? April 30, 2021 It has been a tough start to the year for the UK. As lockdown restrictions continue to slowly ease, we examine the progress made in tackling the Covid-19 pandemic, and whether hopes for a strong economic recovery are well founded. Vaccines offered hope, speedy inoculation will solidify the recovery A year on from the start [...]
Business confidence in London jumps to pre-pandemic levels April 30, 2021 Business confidence in London rose 20 points during April, to 32 per cent, its highest level since January 2020. Moreover, companies in the capital reported higher confidence in their own business prospects month-on-month, up 17 points at 31 per cent, according to the latest Business Barometer from Lloyds Bank Commercial Banking. When taken alongside their optimism in the economy, up 22 [...]
Corona Impact Series: How a Brixton coffee roaster brew up plans for a radical transformation during lockdown April 29, 2021 In this series, City A.M. looks at the financial and economic impact of the ongoing pandemic on a range of small and medium-sized businesses across London. Today: Volcano Coffee Works entered the initial lockdown as a wholesale business and, through necessity, is emerging as something very different. First lockdown Volcano Coffee Works is an independent [...]
In The Style sales soar 130 per cent in first financial update since retailer’s AIM listing April 29, 2021 Fast fashion firm In the Style, which collaborates with reality TV stars and online influencers, toasted booming sales over the last 12 months in its first financial results since it went public last month. The ecommerce retailer said turnover for the year ended 31 March is expected to be around £44.5m, a 130 per cent [...]
Man’s best friend: Brits put a premium on pets even as household spend slips April 29, 2021 Not even lockdown could put an end to the old adage ‘Dogs are a man’s best friend’. In the last three months spending on pets surged as Brits prioritised emotional connections. Nationwide’s latest quarterly spending report reveals the biggest increases in spending between January and March have been on dating sites, gardening and pet-related costs. [...]
Dixons Carphone to close all Dixons Travel airport stores as it repays £73m furlough cash April 28, 2021 Dixons Carphone will close all of its Dixons Travel stores, having made the decision to shut down the business after the government removed airside tax free sales for most retailers. All 35 stores, found in airports around the UK including at Heathrow and Gatwick, as well as two concessions on P&O Cruises, will close, after [...]
What is the post-pandemic outlook for Asian shares? April 28, 2021 Despite the global turmoil caused by the Covid-19 pandemic, stock markets were generally strong in 2020 and the Asia ex Japan region was no exception. Indeed, in many ways the region was first into the pandemic and first out, with successful containment of the virus in many countries enabling economic activity to resume more quickly [...]