GameStop shares up 60 per cent in Reddit-driven tug of war January 25, 2021 Shares of US videogame retailer GameStop were up 60 per cent today, as online traders who appeared to congregate on Reddit continued to cause the stock price to rocket. Shares in GameStop are up 250 per cent so far this year, which has been attributed to short-sellers quickly buying back into the stock to cover [...]
Mercato Metropolitano to open three London street food markets this year January 25, 2021 Street food market operator Mercato Metropolitano is investing £35m in expansion plans, as it prepares to launch new sites in London, Europe and the US despite the impact of the pandemic on the hospitality industry. The firm will open a Canary Wharf site and a second market in Elephant and Castle this summer, followed by [...]
Pubs and restaurants struggle to pay rent due to lockdown restrictions January 25, 2021 Commercial landlords collected just 77 per cent of rent in the final quarter, as retail, leisure and hospitality firms struggled under the pressure of lockdown restrictions. The latest research showed that pub, bar and restaurant tenants paid 23 per cent of rent as sales were decimated by Covid-19 restrictions in the crucial Christmas trading period. [...]
Asos shares jump as retailer confirms exclusive talks to buy Topshop January 25, 2021 Shares in Asos jumped more than five per cent this morning after the online retail platform announced it is in exclusive talks to buy Topshop – the jewel in the crown of Sir Philip Green’s collapsed business empire. Asos said this morning that it is in discussions with Deloitte – Arcadia’s administrator – to buy [...]
Boohoo buys Debenhams brand and website for £55m – but stores set to close January 25, 2021 Online retail giant Boohoo has announced it will buy Debenhams’ brand and website for £55m, but will not rescue the high street chain’s stores or jobs. The deal – announced this morning – means Debenhams’ remaining 118 department stores will close down and could result in up to 12,000 job losses. Boohoo said the acquisition [...]
UK high street set for comeback after lockdown eased due to ‘pent up demand’, experts say January 25, 2021 The UK high street is set to bounce back after lockdown as the lifting of Covid-19 restrictions is expected to release a wave of pent up demand for in-person shopping experiences, retail experts have said. Data showed that footfall jumped dramatically in the first weeks after the first and second national coronavirus lockdowns, with shoppers [...]
Dr Martens to announce cornerstone investors in £3.5bn London listing January 24, 2021 Iconic footwear brand Dr Martens will launch a £3.5bn London listing tomorrow, with the retailer’s top management set to pocket multimillion-pound payouts. Dr Martens is expected to announce tomorrow that it has secured cornerstone investors when it publishes the prospectus for a share sale ahead of the initial public offering (IPO) next month, The Sunday [...]
Asos emerges as frontrunner to buy Topshop January 24, 2021 Online retail giant Asos is now the frontrunner to buy Topshop, the flagship brand of Sir Philip Green’s collapsed high street empire Arcadia. Asos has reportedly put in an offer of more than £250m to buy Topshop, according to Sky News, days after Next withdrew from the race. If Asos’ bid is successful, the future [...]
Flat-pack jabs: New London vaccine hub assembled at former Ikea store January 24, 2021 A former Ikea store has been transformed into a Covid-19 vaccination centre amid a ramping up of jab facilities in the capital. Up to 25 new vaccination sites will start offering Covid jabs this week as the NHS accelerates the biggest immunisation programme in its history. A former Ikea store at the Westfield shopping centre [...]
Brexit friction should spark new ideas for retail exports January 23, 2021 Many retailers received a welcome boost during the Covid-19 crisis with a rise in online orders from international markets, but with exports to EU member states facing teething problems in the form of higher costs and processing delays, now’s the time for retailers to broaden their reach and tap into new markets further afield. Research [...]
