King’s Cross hotspot for rental growth in city as student demand pushes prices higher December 13, 2021 Real estate experts have said it would take more than a minor setback with Covid variant Omicron to dent the sector’s recovery. The country would have to rewind to a situation like the start of the year, when the vaccine was in its early rollout and working from home was enforced for a long time, [...]
JD Sports appears to relinquish Footasylum in takeover battle with watchdog December 12, 2021 Footwear firm JD Sports seems likely to admit defeat in its clash with the country’s competition watchdog over its proposed takeover of a rival. JD Sports had been looking to buy rival footwear retailer Footasylum but has faced multiple obstacles from the Competition and Markets Authority (CMA). After a decision from the watchdog, JD was [...]
Fashion brands log legal claims over Visa and Mastercard fees December 12, 2021 Fashion firms are taking legal action over Mastercard and Visa card payment fees More than a dozen brands have filed legal claims over historic charging fees, alleging a breach of competition laws, it was reported by The Telegraph. It comes as Amazon confirmed UK customers will not be able to use Visa credit cards when [...]
Boots looks to sell off aromatherapy brand for ‘tens of millions’ December 10, 2021 Boots is reportedly looking to sell off its Aromatherapy Associates brand for ‘a few tens of millions of pounds’ while it plots its own auction, sources have said. An exact figure is not yet clear, Sky News’ Mark Kleinman first reported. The parent company of the pharmacy chain, which has been a high street staple [...]
Heathrow to employ ‘thousands’ ahead of next summer once Plan B eases December 10, 2021 The newly imposed Covid-19 Plan B have dampened Heathrow’s hopes of securing confidence in travel, as the restrictions weigh on already faltering demand. Demand remains 60 per cent below pre-pandemic levels, despite the US reopening its coveted travel corridor in November. “High level of cancellations by business travellers concerned about being trapped overseas because of [...]
Urgent calls for a ‘lessons learned’ review into impact of pandemic handling on high streets December 10, 2021 The government is facing calls to conduct an “immediate lessons learned” review into how high streets were affected by the handling of the pandemic. An online sales tax should also be introduced and go towards a reduction in business rates for the retailer, the cross-party Levelling Up, Housing and Communities (LUHC) Committee agreed. In a [...]
Liberal Democrats call for hospitality support amid ‘unprecedented rates’ of Christmas cancellations December 9, 2021 The Liberal Democrats have written to the government requesting urgent support for hospitality firms impacted by plan B measures. Pubs and restaurants in city centres have been concerned about a drop off in trade during what is usually their busiest time of year, following fresh work-from-home guidance. In a letter to the minister for small [...]
Plan B: Central London footfall to plummet with businesses in the lurch December 9, 2021 Central London footfall is anticipated to shrink to 50 per cent below 2019 levels following the government’s move to plan B Covid restrictions this winter. Areas like the West End are currently 20 per cent less busy than pre-pandemic levels, with retail experts at Springboard predicting the gap to widen further. Office workers were told [...]
MADE revises down revenue forecast amid ‘significant’ supply chain struggles December 9, 2021 Home retailer MADE has revised down its revenue guidance as it battles the “significant” supply chain disruptions that have hit most industries. It has also warned investors of a potential £12m to £15m loss in adjusted earnings, which it expects to recover next year. The news prompted shareholders to pile out of the stock, leaving [...]
Moonpig momentum dips following lockdown-induced spending boom December 9, 2021 Moonpig’s revenue and profits have slipped as the lockdown-induced spending momentum dials down. After shops reopened in the six months to October 31, Moonpig’s revenue has sunk 8.5 per cent to £142.6m, with it struggling to compete with the lure of brick and mortar card stores. Investors were not deterred, however, with Moonpig’s share price [...]
