Online sales at Zara owner Inditex see company profit despite lockdown June 9, 2021 Online sales at Inditex grew 67 per cent in the first quarter of 2021, helping the group swing from a loss in 2020 to an underlying profit. In the three months to 30 April sales stood at €4.9bn, up 56 per cent from last year, excluding the impact of currency changes, but 11.5 per cent [...]
Ofcom: Pandemic pushes UK to spend over £110bn online for the first time June 9, 2021 The UK’s adults, after spending more time online than other European countries, have racked up a digital shopping bill of more than £110bn for the first time since records began. With more time spent in front of desktops, smartphones or tablets in 2020 than in other European countries, more than 3.5 hours a day Ofcom [...]
‘Arrest us’: Lloyd-Webber vows to reopen theatres on 21 June regardless of restrictions rules June 9, 2021 Andrew Lloyd-Webber has vowed to reopen his London shows later this month, regardless of whether the government goes ahead with so-called ‘freedom day’. The theatre entrepreneur has had he is willing to be arrested if authorities try to intervene in his plans to re-open. “We are going to open, come hell or high water,” Lloyd-Webber [...]
itim Group plans to float in London as Justin King joins board June 8, 2021 Itim Group plc has announced its intention to float on London’s AIM market, capitalising on structural shifts in the retail sector as coronavirus restrictions ease. The retail software as a service (SaaS) company is seeking to raise between £10 million and £12 million in an IPO. WH Ireland will act as sole broker and the [...]
More than half of pub staff still on furlough as hospitality struggles to trade profitably June 8, 2021 More than half of staff who work in bars and pubs are still making use of the government’s furlough scheme, despite venues now being open for business. Some 55 per cent of pub and bar workers remained on furlough last month, according to the latest ONS data, suggesting watering holes are still operating with minimal [...]
Clothing and footwear sales boomed in May as social events influenced shopping June 8, 2021 Retail sales enjoyed a buoyant May, with clothing and footwear performing particularly well as the easing of coronavirus restrictions allowed social events to influence how consumers shopped. UK retail sales were up 23.7 per cent on a like-for-like basis from May 2019, according to the latest figures from the British Retail Consortium (BRC), suggesting a [...]
Sportswear start-up Prevayl scores £7.5m investment as market picks up pace June 7, 2021 Manchester sportswear start-up Prevayl has scored £7.5m in pre-revenue to stitch together its ‘intelligent sportswear’ collections as the UK sportswear market continues its strong pace. The investment has been made by consumer brand investment firm Stonebridgesignals good faith in the UK sportswear market which is expected to grow 20.9 per cent by 2023, reaching £6.7bn [...]
Warm weather and half-term tempts shoppers back to the high street June 7, 2021 The number of shoppers in retail destinations rose by 11.6 per cent last week, with a combination of warm weather, a bank holiday and half-term tempting punters back to the high street. The number of shoppers on the high street rose by 17.4 per cent last week, according to the latest data from Springboard, while [...]
Caffe Nero’s future called into question in the event of third wave of Covid-19 June 7, 2021 Caffe Nero’s future has been question in its latest company accounts, after a host of pandemic-related factors made the coffee chain’s future appear uncertain. A fresh wave of temporary closures and a legal challenge by landlords to a recent restructuring of the business have cast “material uncertainties” over its future, directors said it’s the Caffe [...]
Winemaker Gusbourne necks strong revenue despite hospitality restrictions June 7, 2021 Winemaker Gusbourne has reaped the benefits of lockdown wine nights this past year, despite the hospitality group battling lower trading sales. The group’s net revenue rose by 28 per cent to £2.11m, up from £1.65m the year before the pandemic pushed people’s social lives to their sofas. The winemaker’s share’s lifted 1.22 per cent in [...]
