Grocery sales surge in lockdown as shoppers go online June 23, 2020 Grocery sales in the UK grew 18.9 per cent in the four weeks up to 14 June, new data has shown, as online shopping and convenience stores continued to attract shoppers through the coronavirus lockdown period. According to data firm Kantar, online sales were the main driver of the rise, increasing 91 per cent over [...]
Government to unveil new bill to help businesses adjust to social distancing measures June 22, 2020 The government is set to bring forward fresh legislation to help businesses adjust to new social distancing requirements, as the UK begins to emerge from months of lockdown. The Business and Planning Bill is set to be introduced this week and will be led by the Department for Business, Energy and Industrial Strategy (Beis), the [...]
UK factory output falls at fastest pace since records began June 22, 2020 Britain’s manufacturing output has fallen at its fastest pace since records began during the three-month coronavirus lockdown. It comes as the sector remains in a deep downturn because of the pandemic, according to the latest report on UK factories by the Confederation of British Industry. The CBI’s manufacturing output gauge dropped from minus 54 per [...]
Footfall still 54 per cent down on 2019 levels after shops reopen for business June 22, 2020 The first week of trading since the coronavirus lockdown for many retailers saw footfall rise dramatically – but it remained 54 per cent down on the same week in 2019. Footfall to all retail destinations across the UK increased by 45 per cent compared to the previous week, as so-called non-essential shops were allowed to reopen [...]
JD Sports lines up administrators for Go Outdoors June 22, 2020 JD Sports has today confirmed to investors that it is weighing up administration for Go Outdoors, after speculation that an official appointment could come within days. JD Sports said this morning that it has “considered a number of strategic options for Go and that Go’s directors have lodged the notice [to appoint administrators] in court”. [...]
JD Sports-owned Go Outdoors on brink of administration, with 2,400 jobs on the line June 21, 2020 Go Outdoors is said to be teetering on the brink of collapse, after the JD Sports-owned retailer was reported to be calling in administrators. JD Sports has lined up Deloitte as administrator to the company, which employs about 2,400 people across 67 stores, according to reports. Go Outdoors, which sells bikes, tents and waterproof clothes, [...]
FTSE 100 rise as retail sales start to bounce back June 19, 2020 The FTSE 100 solidified this week’s gains on hopes of a swift economic recovery, after figures released this morning showed retail sales beginning to bounce back. London’s blue-chip index opened 26 points higher – 0.43 per cent – to 6,250 points, as investors began to digest a fresh round of economic data. By the afternoon, [...]
FCA proposes extending coronavirus consumer credit payment holiday June 19, 2020 The Financial Conduct Authority (FCA) has proposed allowing consumers to extend a payment freeze on their credit cards by a further three months to support borrowers struggling financially amid the coronavirus pandemic. Under the proposals from the markets watchdog, those who have not yet asked for a payment freeze on credit cards or for an [...]
UK borrowing surges to a record £103.7bn in lockdown June 19, 2020 UK borrowing exploded to £103.7bn over April and May’s lockdown, official data showed today, as debt exceeded 100 per cent as a percentage of GDP in May for the first time in 57 years. The current financial year to date – April to May 2020 – has already seen borrowing rocket to £103.7bn. That is [...]
UK retail sales start to rebound in May following record drop June 19, 2020 UK retail sales began to rebound in May, exceeding expectations by rising 12 per cent month-on-month following a record plunge in April, with the proportion spent online hitting a record high. With fuel excluded, retail sales climbed 10.2 per cent month-on-month, data from the Office for National Statistics (ONS) showed. The reading had been expected [...]