Britain 2030: Writing off the high street is unambitious; its future is bespoke, local and community-driven After years of decline, the Covid-19 pandemic further hammered the high street, leading to boarded up shops and mass job losses, and some to declare the high street “dead”. But writing off the high street could prove to be unambitious, as, with the help of local government and private stakeholders, the post-pandemic high street could [...]
High streets see the most shoppers since the beginning of the pandemic High streets see the most shoppers since the beginning of the pandemic The number of shoppers on high streets, in shopping centres and in retail parks last month was the highest since the beginning of the pandemic, but still notably behind 2019 levels. The largest gains in footfall were made on high streets, which continued to benefit from the reopening of hospitality, with the number of punters [...]
Amazon accounts for a quarter of all UK online spending Amazon accounts for a quarter of all UK online spending Amazon commands a sizeable chunk of all UK online spending, with more than a quarter of online purchases made via the ecommerce giant. A total 27 per cent of all UK online spending is via Amazon, according to data from ecommerce consultancy Wunderman Thompson Commerce. Last year, eMarketer forecasted that UK consumers will spend £141.33bn [...]
Ocado deploys lorry drivers to help with national shortage as more names ask government for help July 7, 2021 Ocado has had to deploy some of its own lorry drivers to help its suppliers get stock to its warehouses amid a national shortage of lorry drivers. CEO Tim Steiner told trade magazine The Grocer that Ocado itself was handling the ongoing driver shortage well, but that some of its suppliers were struggling. “We are [...]
Kwarteng to request meeting with Morrisons boss over buyout July 7, 2021 Business minister Kwasi Kwarteng will request a meeting with the boss of Morrisons to seek reassurances over jobs, pensions and the supermarket’s operations ahead of a potential buyout. Ministers will meet with executives at Morrisons ahead of a potential takeover by a consortium of funds headed by New York private equity house Fortress. The meeting [...]
Wetherspoons slams government for ‘behaving like Monty Python’s Dennis Moore’ over VAT rates July 7, 2021 Wetherspoons has hit out at the government for what is believes are unfair VAT rates on hospitality businesses, which could make the sector less competitive post-Covid. The pub chain has accused the government of “unfairness” and of ‘robbing the poor to help the rich’ by levying a higher VAT rate on food bought in pub [...]
Redrows expects turnover to hit nearly £2bn following strong house sales July 7, 2021 UK housebuilder Redrows expects turnover for its 2021 financial year to be £1.94bn, following strong sales in the housing market this year. A turnover of £1.94bn would be a marked increase from 2020’s £1.34bn, but below 2019’s £2.11bn. In an market update this morning, Redrows said legal completions are expected to be 5,620 for the [...]
Foxtons’ chair steps down in wake of ‘impaired’ trading performance July 7, 2021 Chairman Ian Barlow has announced his intention to step down from Foxtons’ board later this year, after the estate agent’s share price plummeted during the Covid pandemic. Barlow will step down no later than 31 December 2021 after nearly nine years on the board. Foxtons has had a tough year fending off criticism from [...]
House prices fall for the first time this year as stamp duty holiday winds down July 7, 2021 The price of the average UK property fell last month for the first time this year, as the end of the most generous stamp duty holiday loomed. House prices fell 0.5 per cent in June, down £1,284 to an average price of £260,358, according to figures from Halifax. The new figures mean annual house price [...]
Philip Green’s wife Tina paid £50m by Topshop administrators July 7, 2021 Tina Green, the wife of former retail tycoon Philip Green, received £50m in May from Topshop’s administration. The £50m was lent to Topshop as part of an emergency restructuring in 2019 and secured against a warehouse in Northamptonshire. In the wake of the collapse of parent company Arcadia, the space was sold for £83m, the [...]
