Eurotunnel reveals new customs system as it says it’s ‘ready for Brexit’ September 2, 2019 Eurotunnel is ready for Brexit, it told investors today, as it aimed to quell fears that there could be disruption to the key trade route. Around 5,000 trucks use the Channel Tunnel every day and the Paris-listed company has introduced a two-lane system for trucks post-Brexit. Read more: Grayling admits cabinet overruled him on Eurotunnel [...]
Vacancy rates hit worst level in over four years August 12, 2019 The decline of the British high street has deepened this summer with vacancy rates hitting a four-year high and sluggish footfall underlining a torrid selling season for retailers. Empty store fronts climbed to their highest level since January 2015 in July, following a turbulent 12 months during which some of Britain’s most iconic retailers permanently closed [...]
Walmart selects billionaire brothers as preferred bidders for Asda September 28, 2020 US retail giant Walmart has selected a consortium led by the billionaire brothers behind petrol station chain EG Group with private equity firm TDR Capital as the preferred bidder to buy Asda. The deal would value the UK supermarket chain at more than £6.5bn, Sky News reported. The broadcaster said that Mohsin and Zuber Issa, [...]
Exit strategy: How and when Boris Johnson will end the UK lockdown May 7, 2020 The Prime Minister is set to reveal a “roadmap” to end UK lockdown measures on Sunday, but what does the exit strategy look like, and when will measures be eased? Last week, Boris Johnson said the UK had “passed the peak” and today chairs a Cabinet meeting that will focus on what restrictions can be [...]
Google’s research reveals how millennial shopping habits are changing November 25, 2019 The Christmas season is a time for family and cheer. But for brands and retailers, the time between late November and early January represents the most crucial — and most competitive — period of the year, accounting for up to 30 per cent of annual sales. As journalist Katharine Whitehorn once said, “from a commercial [...]
Business bodies unite to attack post-Brexit immigration plans July 17, 2019 A group of business organisations representing thousands of firms have demanded the next prime minister change proposed post-Brexit immigration plans to avoid worsening “chronic skills and labour shortages”. Read more: British businesses attack post-Brexit immigration policy The groups, among them business membership organisation London First, the British Retail Consortium (BRC), and the Recruitment and Employment [...]
Shop price inflation gathers pace in May May 29, 2019 Shop inflation edged up this month, as rising costs from wages, taxes and political uncertainty drove non-food retailers to push up their prices during May. Following several years of deep discounts, goods in sectors such as furniture and health & beauty have seen year-on-year prices to May 2019 jump, according to a new index carried [...]
John Lewis issues profit warning as MD steps down January 9, 2020 John Lewis & Partners issued a profit warning today and said its managing director will leave the struggling business next month after underwhelming Christmas sales. The retail partnership warned full-year profits will be “substantially down” on last year as it revealed significant drops in both John Lewis and Waitrose revenue. Read more: Four problems new [...]
February retail footfall hits five-year low March 11, 2019 Retail footfall dropped by two per cent last month, making 2019 the weakest February for footfall in five years, according to research published this morning. February saw the 15 consecutive month of footfall decline, and suffered a deeper plunge than the previous year when footfall was down 0.2 per cent, British Retail Consortium (BRC) and Springboard [...]
Sterling trades at two-year lows as recession worries mount July 9, 2019 The pound was trading at two-year lows against the dollar today as investors become increasingly gloomy about the UK economy’s second-quarter performance. Read more: Brexit uncertainty plagues business investment Sterling had fallen 0.5 per cent by 4.30pm UK time to buy $1.246, a price not traded at since mid-2017. Against the euro it had dropped [...]