On the Beach online sales plummet 85 per cent due to lockdown restrictions February 5, 2021 Online holiday retailer On the Beach remained debt-free despite online sales plummeting 85 per cent in the first quarter due to two lockdowns. Lockdown measures enforced in November and early January drove “very weak” UK travel traffic and bookings, the Group said, with rates down 73 per cent and 83 per cent, respectively. Chief Executive [...]
Cheers: Substantial meal rule to be scrapped when pubs reopen February 5, 2021 The rule that punters have to order a substantial meal with their pint is reportedly set to be scrapped when pubs reopen later this year. The prime minister will allow restrictions on pubs to be simplified after the full lockdown is lifted. Under the tier system that was in place before the latest national lockdown, [...]
Cadbury returns to Birmingham in post-Brexit production shift February 5, 2021 The owner of Cadbury, Mondelez International, is planning to shift more Dairy Milk production back to its historic Bournville factory in Birmingham. The company announced a £15m investment at the Birmingham site, and from 2022 125m more Dairy Milk bars are to be manufactured there. Mondelez’ UK managing director Louise Stigant said Bournville is still [...]
Retailers ‘desperate’ for roadmap out of lockdown as sales continue to fall February 5, 2021 Retailers “desperately” need the government to provide details on a roadmap out of lockdown in order to plan for recovery after the pandemic, experts said as sales continued to fall. The Prime Minister has previously said the government will publish plans to lift lockdown restrictions in the week of 22 February, with easing not expected [...]
French Connection in talks with two potential buyers after challenging year February 5, 2021 French Connection is in discussion with two potential buyers, the company confirmed this morning. French Connection is in early stage talks with Spotlight, owned by Gordon Brothers International, and Go Global, owned by HMJ International Services. The two businesses are in separate talks, and are not acting together. The two businesses interested in French Connection [...]
GameStop and the ethics of short sellers February 5, 2021 The global media has recently been entranced by a battle between retail traders and hedge funds over the US computer game store, GameStop. It has also shone a light on a practice that makes many people feel uneasy: “short selling”. So much so that lots of members of the Reddit community which spearheaded the attack [...]
New Amazon chief needs to think about his company’s role in society February 5, 2021 Amazon’s recent financial report saw it hit another huge milestone, delivering its largest quarter by revenue of all time at $125.56 billion – reaching the $100 billion mark for the first time. This success has much to do with founder Jeff Bezos’s relentless focus on the customer and their unchanging needs: value, choice and convenience. [...]
David Beckham-backed cannabis firm on course to become LSE’s first CBD listing February 4, 2021 UK-based Cellular Goods is seeking a listing on the London Stock Exchange, which would make them the LSE’s first pure-play CBD business
Gamestop Explained: How Reddit investors took on Wall Street hedge funds February 4, 2021 Reddit investors have started to buy up stocks in a bid to cause a “short squeeze”.
Watches of Switzerland pushes ahead with expansion despite Covid uncertainty February 4, 2021 Watches of Switzerland will continue with its expansion plans despite the impact of lockdown restrictions, the firm said this morning as it announced trading had remained strong throughout store closures. The luxury watch retailer said group revenue in the third quarter jumped 5.7 per cent to £272.6m, with UK revenue up 1.5 per cent to [...]