B&M ups earning expectations after strong lockdown trading March 4, 2021 Discount retailer B&M this morning upped its earnings expectations following a strong performance during the latest coronavirus lockdown. The chain said earnings before interest, tax, depreciation and amortisation (EBITDA) for this financial year will be between £590m to £620m. The latest forecast accounts for the voluntary payment of business rates, amounting to around £80m. It [...]
Waitrose opens new London warehouse in online delivery push March 4, 2021 Waitrose has opened a new London warehouse in partnership with Wincanton in a bid to boost its online delivery capacity. The supermarket, which last year ended its partnership with Ocado, said the warehouse in Greenford will deliver 25,000 orders each week and employ an extra 800 staff when it opens fully later this year. That [...]
Ladbrokes owner Entain back in black on rapid US growth March 4, 2021 Ladbrokes owner Entain today swung back into the black as rapid growth from its US joint venture pushed revenue higher. The FTSE 100 firm posted profit of £113.8m in 2020, compared with a loss of £131.2m the year before. Revenue and gross profit were both flat at £3.5bn and £2.3bn respectively, while earnings rose 10 [...]
Wetherspoons to open reopen outdoor space at 394 pubs in April March 4, 2021 Pub giant JD Wetherspoon will open outdoor spaces in 394 pubs in April, but the pubs will be operating with a reduced menu and shorter days. Wetherspoon’s decision is in line with coronavirus restrictions easing on 12 April to allow hospitality to open up outdoor space for customer use. From Sunday to Thursday the pubs [...]
More than 1,000 jobs at risk as Sainsbury’s launches restructuring plan March 3, 2021 Sainsbury’s has launched a restructuring plan, putting around 1,150 jobs at risk. The supermarket is set to cut around 500 head office roles, reduce office space and close a warehouse, according to reports. The head office roles at risk include jobs in commercial operations, human resources, supply chain and logistics, technology, general merchandise and clothing [...]
Chefs spy light at end of Covid tunnel after Sunak budget March 3, 2021 Chefs and restaurateurs across London have welcomed Rishi Sunak’s “life saving” budget plans announced today. A raft of measures aimed at keeping the embattled hospitality industry afloat until it can fully reopen in June includes an extension of the furlough scheme, grants of up to £18,000 for pubs and restaurants, and an extension of the [...]
Budget 2021: Pubs, restaurants and retailers toast Sunak’s announcement but warn of gaps in support March 3, 2021 The hospitality and retail sectors have welcomed the Chancellor’s extended support for pubs, restaurants, shops and salons, but said more could be done to encourage consumers back to the high street after lockdown. Rishi Sunak this afternoon announced measures including a business rates holiday extension, new “restart” grants, a VAT cut extension and a beer [...]
Budget 2021: Beer duty increase scrapped March 3, 2021 The chancellor this afternoon announced that the planned rise in beer duty will be scrapped in recognition of the challenges facing the hospitality sector. Rishi Sunak said planned tax increases on beer, wine and spirits will be cancelled for the second year in a row, following a tough period for pubs and restaurants. “This applies [...]
Budget 2021: Business rates holiday extended to end of June March 3, 2021 The business rates holiday for retail and hospitality firms will continue until the end of June, the chancellor announced today. Rishi Sunak told the House of Commons that the 100 per cent business rates holiday will be extended for three months. For the remaining nine months of the financial year, business rates will be discounted [...]
