Boohoo buys remaining stake in Pretty Little Thing May 28, 2020 Fast fashion retailer Boohoo has today bought the remaining 34 per cent stake in Pretty Little Thing after facing conflict of interest criticisms from a short-seller. The deal is for an initial consideration of £269.8m, with a further £54m of consideration “contingent on Boohoo’s share price averaging 491p per share over a six month period [...]
Regus owner IWG targets £315m fundraise to drive expansion after coronavirus May 27, 2020 Office space giant IWG is aiming to raise £315m through a share offering as it eyes expansion opportunities as rival firms struggle during the coronavirus pandemic. IWG, which owns Regus, said “the current environment is presenting an increased number of attractive…opportunities to accelerate the growth and development of the business”. The office provider said sales [...]
Coronavirus: Local lockdowns could be implemented in England May 27, 2020 English towns and cities could be placed back into full lockdown to suppress coronavirus “flare ups”, according to communities secretary Robert Jenrick. The local lockdowns would be implemented as a part of the government’s Covid-19 track and trace programme, which could be introduced as early as tomorrow. It will mean schools and non-essential retail businesses, [...]
British Land falls to £1.1bn loss as coronavirus pandemic hits rent payments May 27, 2020 British Land today said its full year results were hit by a slowdown in rent payments in March due to coronavirus and a subsequent fall in the value of its office and retail portfolio. The retail giant posted a loss of £1.1bn in the year to 31 March, with underlying profit for the year falling [...]
Britvic sales hit by coronavirus restrictions May 27, 2020 Britvic has reported volatile sales across the board due to the pandemic, with its out-of-home channel adversely hit by lockdown restrictions. The figures In the six months to 31 March, revenue rose 1% to £698m with profit before tax up 16% to £53m. Britvic said while it is confident of its liquidity the board will [...]
UK grocery sales surge at record level after two months of lockdown May 27, 2020 UK grocery sales rose 14.3 per cent during the 12 weeks to 17 May, the fastest rate since comparable records began in 1994, as Britons adapted to the national lockdown, data from market researcher Kantar showed today. The UK has been in lockdown since 23 March though restrictions are being gradually eased. Of Britain’s big [...]
Halfords to reopen 53 stores after Covid-19 lockdown May 27, 2020 Halfords today said it will reopen 53 stores across the UK after it was forced to close down its physical operations due to the coronavirus crisis. The bicycle and car parts retailer was granted essential retailer status following the lockdown, meaning it was able to keep 335 of its 446 stores open. However, these operated [...]
Hammerson boss David Atkins to step down after a decade May 27, 2020 Hammerson chief executive David Atkins will step down after 10 years at the helm, the retail landlord said today. The property giant, which owns Birmingham’s Bullring, said Atkins will remain in position until spring 2021 while it searches for his successor. Atkins, who took the reins in 2009, said it had been a “privilege” to [...]
John Lewis to phase reopening of department stores from 15 June May 26, 2020 Department store chain John Lewis said it will open its stores on a “phased basis” after the government said non-essential retailers could reopen from 15 June. The retailer did not say how many of its 50 stores would open in mid-June, but said that the reopening would be phased to test in-store changes required to [...]
Retail footfall soars over bank holiday weekend May 26, 2020 Retail footfall soared over the weekend compared to the Easter bank holiday as shoppers made the most of the relaxation of lockdown restrictions in England. High street footfall surged 49 per cent yesterday compared to Easter Monday, while coastal towns saw visitor numbers jump 62 per cent. Footfall at retail parks was up 42 per [...]