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 [...]
Retail therapy: How has the Covid-19 pandemic changed the way we shop? January 22, 2021 The lifestyle changes from Covid-19 were reflected in where people chose to spend their hard-earned cash in 2020, with local shops, fitness platforms and recipe boxes feeling the benefit of a year in the coronavirus pandemic.
MPs urge Boris Johnson to appoint hospitality minister to help pubs and restaurants recover January 22, 2021 MPs have urged Boris Johnson to create a new minister for hospitality, as the sector continues to suffer during the coronavirus pandemic. In a letter to the Prime Minister, chair of the Petitions Committee Catherine McKinnell MP asked Johnson to engage with pub and restaurant bosses over concerns there is no long-term plan for the [...]
Topshop set for discount sale price after Next pulls out of race, analysts say January 22, 2021 The bidders circling Sir Philip Green’s collapsed retail empire Arcadia could bag a good deal to buy Topshop, after Next – a frontrunner to rescue the firm’s “crown jewel” – pulled out of the race. Restructuring experts said Next’s exit from the sales process will put the other bidders in a stronger position, making it [...]
The Works suffers sharp sales drop over crucial Christmas period January 22, 2021 Arts and crafts retailer The Works suffered a sharp drop in sales in the run-up to Christmas after strict lockdown restrictions were put in place over the crucial trading period. The high street chain said this morning that total sales in the 11 weeks to 10 January declined 24.8 per cent, compared to the same [...]
Eurozone business activity shrinks sharply in January as lockdowns batter services January 22, 2021 Economic activity in the eurozone has plummeted in January as lockdown measures hit the bloc’s dominant service industry, a survey showed today. IHS Markit’s guide to economic health fell further below the 50 mark to 47.5 in January, a further dip from December’s 49.1. Chris Williamson, chief business economist at IHS Markit, believes a double-dip [...]
John Lewis repays government loan after strong festive period January 22, 2021 John Lewis has announced it will pay back its £300m government loan almost two months early after a better-than-expected festive period. The John Lewis Partnership announced it would pay back £300m of the government’s Covid Corporate Financing Facility which was due to be repaid in March of this year. Under the CCFF, the Bank of [...]
UK retail sales stage tentative recovery over Christmas January 22, 2021 Retail sales made a tentative recovery over the Christmas period as the UK emerged from its second national lockdown. Retail sales volumes rose 0.3 per cent in December following a 4.1 per cent fall in November as the country moved into the more relaxed tier restrictions. It is 2.7 per cent higher than February’s pre-lockdown [...]
More than 150 London pubs, bars and restaurants closed permanently last year January 22, 2021 More than 150 London pubs, bars and restaurants closed permanently last year, the latest figures showed as the coronavirus pandemic continued to wreak havoc on the sector. The number of licensed premises in the capital in December shrunk 4.5 per cent compared to the previous year. That represented a drop from 3,460 venues to 3,303 [...]
Art Fund unveils new grants as museums fight for survival January 22, 2021 Creative charity Art Fund has announced a further tranche of emergency funding for UK museums amid concerns the latest lockdown could put venues out of business. The charity today said it was committing an extra £750,000 in grants, taking its total Covid-19 response fund to £2.25m. Recipients of the latest support include the Cinema Museum [...]
