Plus-size retailer N Brown’s shares drop after pandemic hits revenue January 15, 2021 Shares in plus-size fashion retailer N Brown plunged this morning after the company, which owns Simply Be and Jacamo, announced a dip in revenue due to a drop off in occasionwear sales during the pandemic. N Brown’s share price fell 13.48 per cent to 64.2p after it reported a 1.4 per cent drop in product [...]
The Gym Group eyes expansion despite pandemic hit to trading January 15, 2021 The Gym Group is eyeing future expansion opportunities despite the impact of the pandemic on trading, which caused revenue to plummet last year. The budget fitness chain said total revenue last year was £80.5m, down from £153.1m in 2019, as the company lost 45 per cent of trading days due to closure as a result [...]
SFO closes investigation into British American Tobacco January 15, 2021 The Serious Fraud Office (SFO) has closed its investigation into British American Tobacco (BAT), its subsidiaries and associated persons. The SFO said the evidence in the case did not meet the evidential test for prosecution. According to the BBC, BAT, which owns brands Lucky Strike and Pall Mall, was under investigation over allegations it paid [...]
Pubs and restaurants suffer festive flop as Christmas sales slump January 15, 2021 Pubs and restaurants were plunged into festive misery as tough Covid-19 lockdown restrictions prompted a slump in sales in Christmas. UK boozers and eateries saw total sales drop by almost three-quarters during what should have been the sector’s busiest trading period of the year. Drink-led pubs and bars were worst hit, with sales down 83.7 [...]
Ladbrokes owner Entain ‘lines up’ first female gambling boss January 14, 2021 Ladbrokes owner Entain is said to be lining up the first female chief executive of a major listed UK gambling firm as it pushes back against a £8bn takeover approach from MGM. Entain, formerly known as GVC, is in advanced talks to appoint board member Jette Nygaard-Andersen as its new boss, Sky News reported. It [...]
Barilla buys British fresh pasta maker Pasta Evangelists January 14, 2021 Barilla said on Thursday it had bought a majority stake in Britain’s Pasta Evangelists, re-entering the fresh pasta market and boosting its digital offering at time when the pandemic is driving demand for home deliveries of food and drinks. The companies did not disclose the financial details of the deal, but two sources close to the [...]
More gloom on the horizon for UK high street, think tank warns January 14, 2021 There is more gloom on the horizon for the beleaguered UK high street in the first half of this year as lockdown restrictions weaken consumer confidence, according to the latest research. The KPMG Ipsos Retail Think Tank forecast that retail health will fall by two points in the first three months of the year, as [...]
888 to beat profit expectations as betting shop closures accelerate shift to online gambling January 14, 2021 Online gambling platform 888 Holdings expects to beat profit and revenue expectations for last year after more customers signed up while betting shops were closed during the coronavirus pandemic. 888 said today that revenue and adjusted earnings before interest, tax, depreciation and amortisation will be “moderately ahead” of previous forecasts. The betting site said the [...]
London landlord Great Portland Estates confident capital will bounce back after Covid January 14, 2021 London commercial landlord Great Portland Estates reported that tenants have struggled to pay their rent due to the impact of lockdown measures on trading, but said the Covid-19 vaccination programme is the light at the end of the tunnel. December quarter rent collection was ahead of September levels, with Great Portland Estates receiving 77 per [...]
Primark expects £1bn sales hit due to lockdown store closures January 14, 2021 Associated British Foods (ABF), the owner of Primark, said the closure of the budget fashion chain’s stores had cost the company £540m in lost sales so far, warning the total could reach £1bn due to ongoing restrictions. ABF said the loss of sales due to temporary store closures will cost the firm £1.05bn if they [...]
