Oprah-backed Oatly to open first UK factory with 200 new jobs March 9, 2021 Oatly, the plant-based milk alternative backed by Oprah Winfrey, Jay-Z and Starbucks founder Howard Schultz, has announced plans for its first UK factory, which it said will create at least 200 jobs. The factory, in Peterborough, is expected to launch in the first quarter of 2023 and will produce 300m litres of the vegan milk [...]
DFS Furniture enjoys lockdown cushion as online sales soar March 9, 2021 DFS Furniture’s revenue soared to £572.6m in the final six months of last year as consumer demand for new home furnishings jumped in lockdown. Revenue increased 17.3 per cent compared to 2019, despite the closure of non-essential retail during Covid lockdowns, boosted by a 66.2 per cent surge in online sales. Shares in the furniture [...]
WH Smith reduces cash burn after beating lockdown trading expectations March 9, 2021 WH Smith said this morning reduced its monthly cash burn forecasts, saying its trading performance had beaten its expectations during lockdown. The firm reported to stronger than forecast revenue across its high street stores and “significant” online growth. The newsagent chain said revenue in its high street business in January 2021 reached 74 per cent [...]
Domino’s to open 200 new stores as pizza chain launches fight back against competitors March 9, 2021 Domino’s is planning to open 200 new stores in a bid to increase sales to £1.9bn, the pizza chain announced this morning. The firm, which reported that sales increased 11.4 per cent to £1.35bn last year, today launched a new strategic plan to beat competitors that have invested in online delivery capability during the pandemic. [...]
UK retail sales return to growth after lockdown exit roadmap announced March 9, 2021 UK retail sales returned to growth in February after the government revealed plans to ease the coronavirus lockdown measures. The Prime Minister set out the roadmap to exit lockdown on 22 February – with some plans reported in the preceding days – prompting shoppers to buy non-food items such as school uniforms and going out [...]
Gap ‘mulling’ sale of China business March 8, 2021 Clothing firm Gap is reportedly mulling the sale of its Chinese business as one of a number of options for overhauling its operations in the world’s second largest economy. Sources told Bloomberg that the retailer was working with an adviser over and had made overtures to several potential suitors over the sale. Having entered the [...]
Agnelli family buy 24 per cent stake in Christian Louboutin March 8, 2021 Italy’s Agnelli family is continuing its expansion into the luxury world announcing it has bought a stake in Christian Louboutin. The dynasty has snapped up a 24 per cent stake for €541m through its holding company Exor, valuing the brand at €2.3bn. The company is set to appoint two of the seven members on the [...]
Britons will not splurge Covid-19 savings on post-lockdown spending spree, says OBR March 8, 2021 Britons will not embark on a post-lockdown spending spree with funds saved during the Covid crisis, according to a senior member of the UK’s budgetary watchdog. The Office for Budget Responsibility’s (OBR) committee member Sir Charlie Bean told MPs today that of the £180bn in excess savings Britons have accumulated during Covid-19, only “a relatively [...]
GameStop shares jump 30 per cent following e-commerce commitment March 8, 2021 Shares in GameStop jumped 30 per cent today to nearly $180 per share, after the American video game retailer formed a committee to transform it into an e-commerce business. Gamestop’s share price hit its highest since January today, on the news that it chose shareholder Ryan Cohen as the head of a new committee to [...]
Fries and Prejudice: Burger King accused of using ‘sexism as clickbait’ in latest tweet March 8, 2021 Burger King was accused of using “sexism as clickbait” today, after posting an attention-grabbing tweet for International Women’s Day. This morning the fast food chain tweeted: “Women belong in the kitchen.” The controversial tweet was timed to coincide with International Women’s Day, a day that celebrates the achievements of woman around the world. Burger King [...]
