Chinese industrial production picks up but consumers remain cautious June 15, 2020 Chinese industrial production rose for a second straight month in May as factories began to recover from the coronavirus hit, but the weaker-than-expected gain suggested that the country’s recovery remained fragile. Data released by China’s National Bureau of Statistics also showed sustained contraction in retail sales and investment, showing the continued pressure Covid-19 is placing [...]
H&M sales halve during lockdown months as retailer hopes for June recovery June 15, 2020 Sales at H&M halved during the second quarter of the year, after the coronavirus lockdown forced it to close four-fifths of its global stores during the outbreak. The world’s second-biggest fashion retailer’s net sales for the three months to 31 May were 28.7bn crowns (£2.45bn), 50 per cent lower than the same period last year. [...]
Asian stocks, oil prices fall as second wave fears grow June 15, 2020 Asian stocks stumbled on Monday and oil prices slipped as fears of a second wave of coronavirus infections in Beijing sent investors scurrying for safe-havens. Meanwhile, underwhelming data from China further weighed on investor sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.3 per cent with Australian shares off 0.1% and South [...]
Retail footfall down 80 per cent in May amid coronavirus lockdown June 15, 2020 Retailers suffered a decline in footfall of more than 80 per cent in May, as the coronavirus lockdown kept consumers at home and shops shuttered across the country. Footfall plunged 81.6 per cent compared to the same period last year, according to the British Retail Consortium. This was a shallower decline than in April, however, [...]
Kurt Geiger to donate first month of post-lockdown store profit to NHS June 11, 2020 Kurt Geiger will donate all of its store profit from the first month of trading after the coronavirus lockdown eases to the NHS. The shoe seller plans to open 24 of its 57 outlets across the UK on Monday. This will start with smaller stores which cater to a higher proportion of click-and-collect sales, as [...]
This government’s oversight risks destroying my business June 11, 2020 Despite my strenuous efforts to find some help (submitting evidence to the Treasury Select Committee, writing to the chancellor, the economic secretary to the Treasury, the Welsh secretary, and the first minister of Wales), this government stands on the brink of bringing my business down. My business was not “in difficulty” before Covid-19 struck, it [...]
Ocado shares slide on plans to raise £1bn amid coronavirus online boom June 11, 2020 Ocado shares fell this morning after the announcement that it plans to raise £1bn to help it capitalise on the online grocery market boom triggered by the coronavirus crisis. The British online supermarket and technology group said yesterday that it would raise about £657m through an equity placing and retail offer, and about £350m through [...]
Ocado to raise £1 billion to match demand from Covid-19 crisis June 10, 2020 Ocado, the British online supermarket and technology group, plans to raise 1 billion pounds, giving it more firepower to capitalise on the rapid growth of the online grocery market triggered by the coronavirus crisis. The group said on Wednesday it would raise about 657 million pounds through an equity placing and retail offer and about [...]
Segro to raise £650m through private share placement to pursue ‘opportunities’ June 9, 2020 Property investment firm Segro has announced it will raise £650m through a private share placement to pursue “opportunities” across the UK and Europe. In a statement released after markets closed, Segro said the new equity would allow it to “take advantage of additional investment opportunities across the UK and Continental Europe through further, mostly pre-let, [...]
Retailers suffer ‘another month of struggle’ in May amid coronavirus lockdown June 9, 2020 Retailers endured a second consecutive monthly drop in sales in May, as the high street continued to suffer from the effects of the coronavirus lockdown. The British Retail Consortium (BRC) said sales fell 5.9 per cent last month compared to May 2019. The monthly health check found record growth in online sales, as retailers continued [...]