Pret a Manger launches coffee subscription to battle lockdown sales slump September 4, 2020 Pret a Manger has announced it will launch a coffee subscription service as the coronavirus pandemic continues to challenge the cafe chain’s business model. Pret, which has announced 2,300 job cuts due to the Covid-19 crisis, said the £20-per-month subscription is the first step in its “new digitally-led, multichannel strategy”. The initiative, which will launch [...]
Discounting pushes August retail sales to highest level since pandemic began September 4, 2020 Retail sales made a slight recovery last month to the highest level since the outbreak of the coronavirus pandemic as brands slashed prices ahead of the Bank Holiday weekend. In-store like-for-like sales were down 28.1 per cent in August, from a base of minus 0.1 in the same month last year, which was the best [...]
UK is world’s fifth largest exporter of tech services September 3, 2020 The number of tech exports from the UK have surged in the past year, making it one of the world’s largest exporter of technology services. Last year UK exports of technology services grew to £23.3bn, sitting behind just India, the US, China and Germany in the global rankings. Tech Nation’s ‘Unlocking Global Tech’ report published [...]
UK retailers ramp up online operations but warn of further store closures September 3, 2020 UK retailers are ramping up their e-commerce operations to meet the increasing demand for online shopping during the coronavirus pandemic, but warned of further physical store closures. The latest research showed that 15 per cent of UK retailers have created roles specifically to cater to the boom in digital sales and to boost online capacity, [...]
Computacenter shares at a record after tech retailer rides working-from-home wave September 2, 2020 Shares in office technology retailer Computacenter surged more than 14 per cent today after a bullish statement on its most-recent trading. The rise in Computacenter shares, up 14.88 per cent to 2,316p per share, followed a surprise trading update which cemented the retailer as one of the few winners from lockdown. Even better for Computacenter [...]
Lego sales surge as housebound families play during lockdown September 2, 2020 Lego sales surged in the first half of the year as housebound families spent more time playing games during coronavirus lockdowns. Sales were up 14 per cent in the first six months of 2020 compared to the same period last year due to a jump in demand as more people stayed at home during the [...]
Shakespeare: Poundland set to cash in on luxury homeware September 2, 2020 Homeware retailers reported record sales throughout lockdown, as Britons spent more time at home than ever, and decided to make their homes and gardens nicer. Previous YouGov data from April showed that one in ten households had ordered indoor furniture or homeware products online since lockdown began (10%) while 16% had bought outdoor furniture or [...]
Can office workers save the day for local businesses ravaged by Covid-19? September 2, 2020 The sudden shift to remote working put in place by the majority of UK businesses may herald the end of the office, at least as we know it. Five months and multiple government campaigns later, and the shift to the kitchen table continues, seemingly unabated. According to a survey from US bank Morgan Stanley, just [...]
Prices fall as retailers ramp up discounting to entice shoppers September 2, 2020 Shop prices fell in August as retailers continued to offer discounts in a bid to entice shoppers back onto high streets. Prices fell 1.6 per cent last month, compared to a drop of 1.3 per cent in July, driven by a decline in non-food prices which were down 3.4 per cent. Retailers have slashed prices [...]
Tesla seeks to cash in on record run with $5bn share sale September 1, 2020 Tesla today said that it would sell $5bn (£3.7bn) in new shares as the electric car maker seeks to cash in on a record rally which has seen the stock rise nearly 500 per cent this year. According to a filing to the US Securities and Exchange Commission, the new shares will be sold “from [...]