City Pub Group plans to raise £22m to strengthen balance sheet March 27, 2020 City Pub Group is planning to raise £22m to bolster its balance sheet after the outbreak of coronavirus forced the closure of its pubs. The firm has already raised £15m through the placing of 30m new shares at 50p each, a 10.7 per cent discount to its closing price yesterday, to certain existing shareholders and [...]
UK coronavirus: Tesco restricts online orders to 80 items each March 27, 2020 Tesco has said online customers will have their deliveries capped at 80 items, in the latest move to safeguard supplies during the coronavirus outbreak. In an email to customers the supermarket said the aim was “to increase the number of customers we can safely deliver to”. Tesco urged customers to visit stores during the nationwide [...]
Domino’s Pizza switches to ‘contact-free delivery’ but suspends dividend payments March 27, 2020 Domino’s Pizza Group has announced it will continue to trade by providing “contact-free delivery” but has stopped its collection service due to the coronavirus pandemic. Britain’s biggest pizza delivery firm said it had seen increased demand and would now only be making contactless deliveries amid the coronavirus crisis. In a trading update released this morning, [...]
Coca-Cola HBC sees demand slump amid coronavirus but plans dividend March 27, 2020 Coca-Cola HBC has said demand has slumped in countries with heavy coronavirus restrictions such as Italy and that uncertainty around the situation means it cannot provide guidance for its full-year results. The firm, one of the world’s largest Coca-Cola bottlers, said in an update today that it still intends to propose an ordinary dividend of [...]
Next suspends online shopping amid UK coronavirus outbreak March 27, 2020 Next has suspended all online operations in order to protect staff amid the UK coronavirus outbreak. The high street retailer said it has made the “difficult decision” to keep warehouse and distribution staff safe as the number of UK coronavirus cases continues to rise. The company said in a statement last night: Next has listened [...]
Coronavirus: Mike Ashley ‘deeply apologetic’ for series of mistakes March 27, 2020 Frasers Group boss Mike Ashley has said he is “deeply apologetic” for a series of blunders in the company’s handling of the coronavirus outbreak. The Sports Direct owner wrote an open letter in which he apologised for his own personal actions and those of the Frasers Group business. Earlier this week, the group had pledged [...]
Pursuing purpose, not profit, could help businesses grow a bigger pie for all of us March 27, 2020 The coronavirus crisis is highlighting one of the most fundamental tensions that business leaders face: do they pursue purpose or profit? Sainsbury’s chose purpose. They’ve reserved the first hour on every Monday, Wednesday, and Friday for elderly and vulnerable customers, and are giving them priority access for online delivery slots. The supermarket is also limiting [...]
Coronavirus: Consumer confidence plunges but avoids 2008 levels March 27, 2020 Consumer sentiment has plummeted due to coronavirus, although it has yet to fall to the levels reported during the 2008 financial crisis, according to the latest research. Sentiment dropped 29 points to minus 26 between December last year and this March, the sharpest quarterly fall in more than 10 years. However it is higher than [...]
Morrisons directors quit in corporate governance row March 26, 2020 Two Morrisons non executive directors have quit, reportedly due to a disagreement over corporate governance at the supermarket. Neil Davidson, chair of the corporate compliance and responsibility committee, and Tony van Kralingen, remuneration committee chair, have stepped down and will cease to be directors from 26 and 29 April respectively. The grocer said today that [...]
Coronavirus: Retailers pause online shopping over safety fears March 26, 2020 Retailers have started to close down their online operations as well as physical stores in response to the coronavirus outbreak, citing concerns over the safety of their warehouse workers. High street chains Next, Moss Bros and River Island have today temporarily closed their internet shopping services, despite government guidance that online retailers can continue to [...]
