Online retailer The Hut Group hikes full-year revenue guidance October 26, 2020 Online retailer The Hut Group (LON:THG) said revenue this year will be stronger than previously anticipated as it entered the crucial Christmas trading period, with Black Friday expected to boost sales. THG, which raised £1.88bn when it listed on the London Stock Exchange last month, this morning raised full-year 2020 revenue guidance to between £1.48bn [...]
Westminster City Council scraps plans to charge for pavement space October 23, 2020 Westminster City Council has scrapped plans to charge hospitality firms thousands of pounds to keep trading outside through the coming months. Earlier today City PM revealed that the Council was set to charge businesses £7 per square metre of outside space, per day, once the existing ‘al fresco’ scheme comes to an end on October [...]
New covid rules mean ‘don’t bother opening’ says Mark Hix October 23, 2020 I’m presently sitting in my fish truck in Lyme Regis, where I’ve been since the crack of dawn so I can get the best produce straight from the local fishermen. It’s a far cry from the life I had this time last year, when I might have been preparing the staff at Hix Soho for [...]
Holiday Inn owner IHG says bookings subdued amid tighter restrictions October 23, 2020 Holiday Inn owner Intercontinental Hotels Group (IHG) said bookings remained subdued in the third quarter, as tighter restrictions introduced in September dampened the sector’s tentative recovery. Group revenue per available room was down 53.2 per cent reflecting a 30 percentage point drop in occupancy year on year. However, occupancy improved to 44 per cent in [...]
UK retail sales smash expectations but analysts flag trouble ahead October 23, 2020 UK retail sales rose well beyond expectations in September, with Britons buying 1.5 per cent more goods than a month earlier as they stocked up on food and turned to online retailers. The 1.5 per cent growth was much better than economists had expected. It also beat the 0.6 per cent expansion in sales in [...]
KFC to hire 5,400 new workers despite ‘extremely difficult year’ for hospitality October 23, 2020 Fast food chain KFC has announced plans to hire 5,400 new workers in the UK and Ireland by the end of the year, signalling confidence in the hospitality industry despite an “extremely difficult year” for the sector. KFC, which has already employed more than 4,300 new team members since the start of lockdown, said the [...]
Entrepreneurs don’t want Rishi’s restaurant handouts — they want to be allowed to do their jobs October 23, 2020 The Conversative Father Christmas — Rishi Sunak, to you and me — has visited once again. In a better-late-than-never display of magnanimity, the chancellor has finally realised that conditions in Tier 2 Covid areas — which now cover 26.7 million people — make operating impossible for thousands of businesses, particularly in the hospitality sector. Whereas [...]
When will the government stop hanging bars out to dry? October 23, 2020 “Dreadful evening, so many bookings cancelled, sent half the staff home” “So many cancellations after new announcements — no way we could police it.” “Much, much lower takings, any good momentum we had is gone.” This is the real, unfiltered voice of the hospitality industry. These direct quotes from our bars’ manager reports last Saturday [...]
Hotel giant Accor sees revenue plunge two-thirds as recovery stalls October 22, 2020 Hotel giant Accor, which owns the Mercure, Ibis and Novotel chains, said its revenue slumped nearly two-thirds in the third quarter compared to last year. Europe’s biggest hotel group posted revenue €329m (£297m), down 63.7 per cent on the same period last year. Accor said that it had seen recovery across all of its businesses [...]
Gap looks at closing stores in the UK and rest of Europe October 22, 2020 American fashion retailer Gap is considering closing stores in the UK and some other European countrie. The clothing chain is trying to save cash while dealing with a sales slump brought on by the Covid-19 pandemic and competition from fast-fashion companies such as H&M and Zara. The San Francisco-based company, which had 129 Gap brand stores in Europe [...]
