Boohoo unaware of potential US import ban over slave labour links March 2, 2021 Boohoo today said it had not been contacted by US customs authorities, following reports that America could block the fast fashion retailer’s imports over modern slavery allegations. The e-commerce giant said it had not “received any correspondence from, nor is it aware of any investigation by, US Customs and Border Protection”. It said it “will [...]
Online sales drive another tasty six months for Hotel Chocolat March 2, 2021 Revenue and profit before tax were up at Hotel Chocolat in the six months ended 27 December, with online growth offsetting the physical reduction in retail caused by the Covid-19 restrictions. Revenue at the chocolate retailer was up 11 per cent to £101.9m and profit before tax stood at £15.5m, an increase of three per [...]
Chancellor urged to keep London economy competitive through tax measures in Budget March 1, 2021 Chancellor urged to keep London economy competitive through tax measures in budget
Brits head back to the high street as roadmap out of lockdown boosts shopper numbers March 1, 2021 The number of shoppers on the high street jumped last week, as Brits learned the details of the Prime Minister's roadmap out of lockdown.
Labour’s Anneliese Dodds hints at support for online sales tax on tech giants March 1, 2021 Shadow chancellor Anneliese Dodds has called for the government to level the taxation playing field between digital and bricks and mortar retail in a potential call for new online taxes. Dodds said at a pre-Budget address on Bloomberg that there was a “big gulf on how businesses based in bricks and businesses based on clicks [...]
Ocado opens hub in Bristol as it plans to boost UK capacity by 40 per cent March 1, 2021 Online supermarket retailer Ocado has opened a new mini customer fulfilment centre (CFC) in a bid to expand its reach across the country after a strong 2020. Supporting up to 815 jobs, the Bristol-based centre has the capacity for over 30,000 orders a week and will hep the retailer with its increased demand over lockdown. [...]
Halfords on track for £100m profit as cycling division keeps the wheels turning March 1, 2021 Halfords this morning said that it was on track to post full year profit of £90m to £100m as a pandemic-inspired cycling boom continued. That’s after paying back £10.7m in furlough income, as the firm announced that it would do this morning. The firm’s shares rose 17 per cent on the back of the announcement. [...]
300 McColl’s convenience stores to be converted into Morrisons Daily’s March 1, 2021 300 McColl’s convenience stores are set to be converted into Morissons Daily’s over the next three years, as the companies’ said this morning they have extended their wholesale supply partnership. The upcoming rollout follows over 30 conversions in recent months, with all stores continuing to be owned and operated by McColl’s. Offering the Morrisons [...]
Wagamama owner The Restaurant Group burns through £5.5m a month during lockdown March 1, 2021 Wagamama owner The Restaurant Group has said it expects to burn through £5.5m a month until lockdown restrictions are lifted. The group announced details of the cash burn rate at Christmas but today said it expected to stay at this level until the end of restrictions, which are due to be lifted no earlier than [...]
Ladbrokes owner Entain hikes Enlabs offer after shareholder resistance March 1, 2021 Ladbrokes owner Entain has today hiked its offer for Swedish rival Enlabs to around £310m, the firm announced this morning. The FTSE 100 firm said that it was raising its bid from 40 Swedish krona per share to 53 Swedish krona per share, giving the firm a valuation of 3.7bn krona (£311m). The decision to [...]
