M&S sales fall over Christmas quarter as lockdown hammers clothing division January 8, 2021 Marks and Spencer (M&S) saw their sales slip over the quarter leading up to Christmas as new lockdown restrictions cast a shadow over the normally lucrative season. The high street stalwart said that total sales fell 8.2 per cent to £2.5bn in the three months to 26 December. Shares in the retailer fell 1.9 per [...]
Not just for Christmas: Pets at Home raises profit outlook after December growth January 8, 2021 Pets at Home has raised its full year profit guidance after recording impressive sales growth during December. The country’s leading pet care firm said that it now expected profit for the year to come in at £77m, despite the voluntary repayment of £28.9m in business rates relief. In a trading update this morning, the company [...]
High street suffers worst December retail sales on record as online growth slumps January 8, 2021 December retail sales were negative for the first time on record in 2020, with online purchases slumping to the lowest level since the pandemic began, in the latest blow to the beleaguered UK high street. Online sales were at their lowest level since March, increasing by 62 per cent on the previous year, and were [...]
Louis Vuitton owner LVMH completes $16bn takeover of Tiffany & Co January 7, 2021 Louis Vuitton owner LVMH has completed its $16bn takeover of US jewellery brand Tiffany, the companies announced this afternoon. The deal was almost derailed last year when LVMH attempted to abandon the acquisition, prompting Tiffany to take legal action against the luxury goods conglomerate. Following the completion of the transaction, Louis Vuitton executive vice president [...]
Debenhams shuts Irish website as Brexit ‘rule of origin’ clause leaves businesses blindsided January 7, 2021 Debenhams has shut its online business in Ireland as it is unable to send orders to the Republic of Ireland due to new Brexit trade rules. The business, which is in administration, said the website was “temporarily closed” but gave no details on if and when it would be back online. The website apologised to [...]
Mandatory testing is the boost the travel industry needs January 7, 2021 Lockdown 3 has once again decimated the travel industry. There is a total ban on foreign trips except for very specific reasons such as work or urgent medical or compassionate need. We are in a total mess but there is one clear way out. The government needs to act quickly and introduce stringent Covid testing for [...]
Boots sales slump as shoppers prioritise supermarkets during pandemic January 7, 2021 Boots suffered a sharp drop in sales in the first quarter as consumers shifted towards “one-stop” supermarket shopping during the pandemic, the high street pharmacy’s US owner announced today. Walgreens Boots Alliance (WBA), the parent company of the UK chemist chain, said its retail pharmacy division’s sales fell 6.2 per cent to $2.6bn, driven by [...]
Sainsbury’s bags Christmas sales rise after online shopping boost January 7, 2021 Sainsbury’s today posted a strong rise in sales over Christmas as a record number of customers bought their shopping online. The supermarket chain said like-for-like sales were up 9.1 per cent during the festive period, despite people holding smaller gatherings due to lockdown measures. The company said it sold smaller turkeys and more beef and [...]
Fashion retailer Joules forecasts £18m revenue hit due to new lockdown restrictions January 7, 2021 British fashion retailer Joules has forecast a revenue hit of up to £18m due to the current Covid-19 lockdown restrictions in the UK, the firm said as it announced a sharp drop in store sales over the winter. Joules said total store sales declined 58 per cent in the seven weeks to 3 January due [...]
MPs urge Rishi Sunak to save music festivals amid threat of collapse January 7, 2021 MPs have urged chancellor Rishi Sunak to roll out emergency support for music festivals this summer, warning many events are at risk of permanent collapse. In a letter today the Department of Digital, Culture, Media and Sport (DCMS) committee asked the chancellor to launch a government-backed insurance scheme to ensure festivals and live music events [...]
