Morrisons revenue tops £9bn, painting picture of health for bidders September 9, 2021 Morrisons has topped a revenue of £9bn in the past six months, as the bidding battle over the supermarket giant escalates. The retailer enjoyed a revenue lift of 3.7 per cent, including its fuel earnings, in its interim results for the six months to 1 August, painting a picture of health for potential buyers. The [...]
Aquascutum and Gieves & Hawkes face being dragged down by Chinese parent’s debt struggles September 8, 2021 Struggles in China are pushing some of the most established British fashion brands into a dicey position, with Gieves & Hawkes facing a winding-up order and Aquascutum pulling out of the UK entirely. Chinese outfit Shandong Ruyi, which owns the two firms, has come under increasing pressure over its staggering $4 billion debt following an [...]
Shakespeare on advertising: Wetherspoons beer shortages hit public perceptions September 8, 2021 Cut-price pub chain JD Wetherspoon was in the news recently following reports that supplies of Heineken, Carling, and Coors have run out in some of its locations across the UK. While some have argued that Brexit has impacted supply chains, company founder Tim Martin has attributed the issues to the ongoing COVID-19 pandemic. Whatever the [...]
Revenue lifts at fresh food provider Bakkavor, but labour shortages bite September 8, 2021 Fresh food provider Bakkavor’s revenue has lifted above pre-pandemic levels, despite “unprecedented challenges in labour availability” which risk its operations running stale. Like-for-like revenue swelled by 6.4 per cent to £924.9m in the six months to 26 June, and 1.2 per cent ahead of the same period in 2019. The Fitzroy headquartered-based company, which [...]
DS Smith reaps rewards of online shopping boom, but sees costs climb September 7, 2021 Packaging giant DS Smith has reaped the rewards of Europe’s pandemic-induced ecommerce boom, with its box volumes swelling past pre-pandemic levels. In its latest trading update, the European group said growth in box volumes had been recorded both in 2019 and in 2020 in the months to 1 May, driven by the demand in ecommerce [...]
Covid and Brexit brew ‘perfect storm’ as Ikea stores hit by supply issues September 6, 2021 Ikea has been hit by the UK’s current lorry driver shortage, as it confirmed it is struggling with supplying around 1,000 of its product lines. The shortages, including mattresses in some stores, has been ignited by both the pandemic and Brexit, the Swedish furniture giant said. “Like many retailers, we are experiencing ongoing challenges with [...]
E-commerce bonanza: Brits to spend record £120bn online this year alone September 6, 2021 Following a surge in online sales in 2020 thanks to Covid-19 and three strict lockdowns, UK shoppers are expected to further increase their spending as new data forecasts £120.5bn in online purchases this year alone. Online sales in the UK saw an increase of 46.5 per cent in 2020, with British consumers spending £110.6bn online [...]
Retail crisis: Every single day, nearly 50 stores in Britain close down September 6, 2021 Almost 50 chain stores per day closed down on British high streets, retail parks and shopping centres in the first half of the year, according to research. But the rate of closures slowed compared with the first six months of 2020, a survey conducted for accountancy firm PwC found. Figures collected by the Local Data [...]
Taking off: New routes on way for City Airport as passenger numbers rebound September 6, 2021 Both British Airways and Deutsche Lufthansa have reportedly restored their flights to key financial hubs from London City Airport, as bosses eye the return of business travel. Zurich, Frankfurt and Rotterdam flights will start taking off again this month, Bloomberg reported, according to the airports chief operating officer Alison FitzGerald. “We’re seeing some early signs of [...]
Norwegian passenger numbers rebound as it unveils new Autumn routes September 6, 2021 Budget carrier Norwegian has enjoyed a lift to passenger numbers in recent weeks, as demand for the beleaguered travel industry rebounded in the summer months. Some 790,000 passengers flew with Norwegian in August, around one and a half times more than in the same month last year. The airline added that the number of future [...]
