Lockdown takes a slice out of Domino’s Pizza profits June 17, 2020 Domino’s Pizza has forecast that the cost of measures introduced during the coronavirus lockdown will push down profit for the first half of the year, despite an increase in people ordering in over the period. The company said the costs stemmed from halting two-person deliveries, keeping stores closed during restocking, contact-free delivery boxes, and issuing [...]
Boohoo buys Oasis and Warehouse as revenue rockets in lockdown June 17, 2020 Boohoo beat revenue expectations despite other retailers’ lockdown pain today as it confirmed a cut-price purchase of Oasis and Warehouse’s online divisions. The digital fashion retailer has thrived in lockdown, seeing revenue jump 45 per cent to £367.8m in the three months to May. And it also confirmed a £5.25m purchase of the online businesses [...]
B&Q-owner Kingfisher bounces back after initial lockdown hit June 17, 2020 B&Q-owner Kingfisher has reported more than one-fifth rise in second quarter profit, as its stores in the UK and Europe emerged from coronavirus lockdowns. The home improvement group said on Wednesday that underlying sales grew 21.8 per cent year-on-year in the three months to June 13, as customers took on more DIY projects than before [...]
Boohoo set to swoop for bankrupt Oasis and Warehouse June 16, 2020 Online fashion giant Boohoo is set to announce the purchase of high street brands Oasis and Warehouse, which went bankrupt at the end of April. Sky News reported that the deal could be announced tomorrow when Boohoo releases its first quarter results. When the two brands collapsed into administration on 30 April, with 1,803 redundancies, [...]
Former Credit Suisse boss Tidjane Thiam and Emma Watson to join Kering board June 16, 2020 The former chief executive of Credit Suisse is to join the board of Gucci owner Kering, alongside actress Emma Watson and the president of ride-hailing giant Didi Chuxing. Tidjane Thiam, who left Credit Suisse in February amid a major spying scandal, will chair Kering’s audit committee. Thiam, who previously ran insurer Prudential, had said he [...]
Unhappy Meal: McDonald’s sales fried across the globe by coronavirus lockdowns June 16, 2020 McDonald’s sales fell by about one-third across the globe over the first two months of the current quarter, as the coronavirus pandemic forced it to close stores across Europe. The fast food giant said that demand had improved significantly from April to May, as many of its restaurants reopened to diners, especially in the US. [...]
Selfridges, Kurt Geiger, Intu hail shopper appetite as stores reopen June 16, 2020 High-end retailers have struck a positive note after the first day of their stores being reopen since the coronavirus lockdown started in March. Selfridges, the London department store, said that footfall had been greater than expected, while other retailers and venues gave similar indications. Selfridges said: “We have been pleasantly surprised by the response as [...]
Cineworld to reopen UK cinemas with social distancing measures on 10 July June 16, 2020 Cinema chain Cineworld today revealed it will reopen UK cinemas from 10 July as it hopes blockbuster releases including Christopher Nolan’s Tenet and Disney’s live action Mulan will attract wary punters to its screens. Cineworld’s UK cinemas will reopen after more than three months of lockdown after Prime Minister Boris Johnson ordered all non-essential British [...]
Greggs to reopen 800 shops this week as baker rolls out lockdown exit plan June 16, 2020 It has been a long time since you could get your hands on Greggs’ famous vegan sausage rolls – but the wait will finally come to an end this week. Greggs is to reopen 800 shops on Thursday, having successfully trialled social distancing measures in a small number of stores, with the remaining 1,250 shops early [...]
Restaurant bosses call for VAT cut as dining out sector braces for difficult return to business June 16, 2020 Restaurant industry bosses have today urged Boris Johnson to take drastic action, including slashing VAT on the food they serve, to help the struggling sector survive the effects of coronavirus. In a letter signed by the bosses of 90 major chains, Deliveroo founder Will Shu said that the government should also extend its job retention [...]
