Boohoo enjoys strong growth but admits Brexit will drive up costs January 14, 2021 Brexit is likely to drive up prices at Boohoo, with additional costs largely relating to distribution and administration to blame. In a market update this morning the online retailer said it had implemented a system that was designed to minimise the impact of Brexit on its European customers, and it would try to mitigate extra costs [...]
Tesco adds £1bn in online sales as customers splash out over Christmas period January 14, 2021 Tesco added an extra £1bn in online sales in the run-up to Christmas as new lockdown measures accelerated the shift to digital shopping. The supermarket said online sales growth surged more than 80 per cent in the 19 weeks to 9 January, and orders have continued to grow after the festive season. Tesco broke its [...]
Premier Inn owner Whitbread confirms 1,500 job cuts amid restructuring January 14, 2021 Premier Inn owner Whitbread (WTB) has confirmed 1,500 job cuts following a restructuring of its hotel and restaurant operations as sales tumble amid lockdown restrictions. While the restructure had led to 1,500 job cuts, it is far lower than the 6,000 it had projected in September. The group, which also owns Beefeater and Brewers Fayre, [...]
Dunelm sales jump as lockdown fuels interest in homewares January 14, 2021 Dunelm recorded a jump in sales in the weeks leading up to Christmas despite the closure of its stores, as lockdown measures continued to fuel an interest in home improvements and interior decorating. The retailer said total sales were up 11.8 per cent in the 13 weeks to 26 December, driven by “buoyant” consumer demand [...]
Pandemic cycling boom drives growth at Halfords January 14, 2021 Halfords saw sales growth of nearly 12 per cent in the third quarter, boosted by a pandemic-driven rise in cycling. Growth in Halford’s cycling department jumped more than 35 per cent in the third quarter, boosted by a surge in sales for cycling products, e-bikes and e-scooters. The firm’s performance cycling business Tredz grew more [...]
Food packaging giant Hilton thrives as pandemic changes eating habits January 14, 2021 Hilton Food Group has surpassed expectations with a continuation of strong sales and volume growth, according to a trading update released today. The group’s success was driven by their own expansion as well as the shift to home consumption throughout the Covid-19 pandemic. Hilton made strong progress across several European markets, benefitting from people eating [...]
Us versus them will do nobody any good on the High Street January 14, 2021 While a new year symbolises a fresh start for many, you could be forgiven for thinking you had been planted in the film Groundhog Day but instead the calendar was stuck in 2020. Perhaps nowhere is this more the case than in the retail and hospitality industry, with Lord Sugar’s legal challenge to the planned [...]
UK high streets to ‘lose up to 40 per cent of stores’ due to pandemic January 14, 2021 Up to 40 per cent of high street shops could be forced to close due to the impact of the shift to remote-working and online shopping, the latest analysis showed, in the latest blow to the struggling UK retail sector. A report published this morning by professional services giant KPMG said UK high streets could [...]
Sazka taps former Sainsbury’s boss Justin King for National Lottery bid January 14, 2021 European lottery group Sazka has tapped former Sainsbury’s chief executive Justin King to advise on its bid for the UK National Lottery licence. King, a veteran retail executive who also serves as vice chairman of private equity firm Terra Firma, is the first appointment to a new advisory board working on Sazka’s tender. He will [...]
Brits put Dry January on ice as alcohol sales boom in first week of latest lockdown January 13, 2021 Brits have seemingly given up on Dry January this year as supermarket alcohol sales have soared in the first week of lockdown. The month-long stint of alcohol abstinence has been put on hold for many people, according to the latest Waitrose sales figures. The grocer said wine sales are up 27 per cent and beer [...]
