M&S sinks to a loss as store closures hammer clothing business May 26, 2021 M&S has reported an annual loss as sales in its clothing division collapsed during the pandemic. The high street stalwart reported a £201.2m pre-tax loss in the 52 weeks to 27 March 2021, down from a pre-tax profit of £67.2m in the previous year. M&S Food sales dipped 0.6 per cent across the year with [...]
The Gym Group beats expectations on strong reopening demand May 26, 2021 The Gym Group today said trading had outperformed expectations since the easing of lockdown measures as Brits flocked back to its venues to get in shape. The fitness firm reopened its gyms in England on 12 April, followed by reopenings in Scotland on 26 April and Wales on 3 May. Its entire estate of 187 [...]
English mass event trials only led to 15 Covid cases out of 58,000 people May 25, 2021 England’s collection of mass event trials have been deemed a “real success”, with only 15 positive Covid cases out of 58,000 people. Culture secretary Oliver Dowden said the results showed “we’re making good progress along the line to bring the West End back to life again”. The government put on a series of indoor events [...]
Revolution Bars to raise £21m through share placing May 25, 2021 Revolution Bars this evening said that it would raise £21m through a share placing in order to reduce its debt pile. The hospitality firm, which operates 66 venues, said that the proceeds would position the company for further growth when bars are allowed to open normally again. In a statement, it said that £20m will [...]
Grocery sales: Ocado on top as supermarkets snag 58m more visits as UK exited lockdown May 25, 2021 As the UK’s vaccination programme pushes on, supermarkets have enjoyed 58m more shopping visits in the first quarter of this year than last year, according to industry data released today. Supermarkets actually had more visits in the 12 weeks to 16 May, than when panic buying gripped shoppers at the start of the pandemic, market [...]
Full reopening key for West End landlord Shaftesbury after its £338m loss over winter lockdown May 25, 2021 West End landlord Shaftesbury banking on a summer revival after its £338m loss over winter lockdown
Made.com: Online furniture seller plots London IPO May 25, 2021 Made.com has unveiled plans for an initial public offering in London after cashing in on rapid growth during the pandemic. The online furniture retailer today said it will seek to raise roughly £100m through the issue of new shares, while the float will include an offer of shares to be sold by existing shareholders. The [...]
Ted Baker completes bank refinancing as Covid delays results May 25, 2021 Ted Baker today said it has refinanced by extending its revolving credit facility with lenders. Under the new agreement, a facility of £108m maturing in September 2022 and a restricted facility of £25m maturing in January 2022 will be replaced by a new facility of £90m reducing to £80m in January 2022 until maturity in [...]
Soggy sandwich: Food firm Greencore sinks to first-half loss May 25, 2021 Convenience food producer Greencore has sunk to a loss in the first half, but there is “cause for optimism” as people head back to the office. The FTSE 250 firm reported a group loss before tax of £1.8m in the first half of the year down from a group profit of £27.3m a year earlier. [...]
Retirement villages may offer high streets their needed post-pandemic revival May 24, 2021 Retirement village provider Audley Group and BlackRock Real Assets have embarked on a £500m joint venture into the retirement living sector in the UK, which could bring high streets the much-needed footfall for post-pandemic revival. The joint venture, confirmed yesterday, will fund the development of at least three retirement communities, which will be ready for [...]
