Ocado sounds alarm on product availability as supermarket shelves stand empty January 11, 2021 Ocado has warned that the availability of some products is being impacted by coronavirus-related staff absences in its supply chain. With more staff off sick or forced to isolate some grocery suppliers are having to consolidate their lines. “Staff absences across the supply chain may lead to an increase in product substitutions for a small [...]
New year, same lockdown: UK shopping trips fall 27 per cent in first week of January January 11, 2021 New year, same lockdown: UK shopper numbers fall 27 per cent in first week of January
JD Sports shares pop as firm raises profit outlook January 11, 2021 Sportswear giant JD Sports saw its shares rise 4.6 per cent this morning after the firm announced that full-year profit would “significantly ahead” of estimates. In a trading update, the FTSE 100 firm said that “robust” sales during the pandemic would see it come in ahead of the £295m forecast. That’s despite the fact the [...]
Ladbrokes owner CEO to leave after just seven months for DAZN January 11, 2021 Ladbrokes owner Entain this morning said its chief executive Shay Segev will leave after just seven months in the position. Segev will exit after a six-month notice period to join sports streaming platform DAZN as Co-CEO, only days after Entain rejected an £8bn approach from MGM. Chairman of Entain Barry Gibson said, “We are sorry [...]
Dr. Martens gearing up for stock market float January 11, 2021 Dr. Martens is readying itself for an IPO, and hoping to trade on the main market of the London Stock Exchange after more than 60 years in business. The iconic footwear brand has engaged Goldman Sachs and Morgan Stanley as join global co-ordinators, and Barclays, HSBC, Merrill Lynch and RBC Europe as joint bookrunners in [...]
Sleep-tech firm Simba hails new dawn amid pandemic sales boom January 10, 2021 Rising online sales during the pandemic propelled “sleep-tech” firm Simba back into the black last year, the company announced today. Chief executive Steve Reid hailed today hailed the firm’s “remarkable turnaround” as it booked £100m in sales in 2020. The rapid growth, which will pocket Simba £3m in profit, came on the back of three [...]
Trump tie-making firm enters race for Arcadia assets January 10, 2021 A US clothing firm with links to the Trump family has emerged as a bidder for the pieces of Sir Philip Green’s Arcadia retail empire. The Telegraph reported that G-III Apparel had become the latest company to throw its hat into the ring for brands such as Topshop and Dorothy Perkins. The New York company [...]
Music Feeds festival to fight food poverty following £1m Co-op donation January 8, 2021 Co-op has organised a digital music festival in a bid to “turn up the volume” on the fight against food poverty, also donating £1m to charities. The two-day festival Music Feeds, co-organised by CEverybody Belongs Here, will see a third of net profits being donated to FareShare, helping provide 2.5m meals to those in need. [...]
Marston’s boss calls for extra support as pub chain expects sites to be closed until March January 8, 2021 The boss of pub chain Marston’s this morning urged the government for additional support for hospitality firms, as the company revealed it expects its sites to be closed until at least March due to the Covid-19 lockdown. The company, which has been forced to close all of its pubs due to the third nationwide lockdown, [...]
