Retailers
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May- 2020 -14 May
Online retail sales soar to 10-year high amid Covid-19 crisis
Online sales growth surged to a 10-year high in April, up 23.8% year-on-year, amid the ongoing Covid-19 pandemic. That’s according to the latest IMRG Capgemini Online Retail Index, which tracks the online sales performance of over 200 retailers. According to the report, the spike in sales was “overwhelmingly” driven by…
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14 May
Watches of Switzerland reports 5.9% increase in revenues in Q1 results
Watches of Switzerland has reported a 5.9% increase in group revenues to £819.3m in the year to 26 April, ahead of recently revised guidance. In the 46 weeks to 15 March 2020, group revenue increased by 15.8% across both the UK, which was up by 9.4% and the US, which increased…
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13 May
UK economy shrinks by 2% as pandemic takes its toll
The UK’s economy shrank by 2% in the three months to 31 March 2020, as a result of the Covid-19 pandemic. This is according to new data from the Office for National Statistics (ONS), which also found that gross domestic product (GDP) fell by 5.8% during March, the largest fall…
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11 May
Trouble ahead for retail vacancy rates, warns BRC
The British Retail Consortium (BRC) and Local Data Company has said the new BRC-LDC Vacancy Monitor has revealed that the rate of store vacancies increased to 12.2% in March. The monitor also reported a 0.3% decrease in vacancy rates in shopping centres to 14.1% compared with 14.4%. The South West and Wales…
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5 May
Pandora maintains ‘strong financial position’ despite pandemic
Pandora said it is in a “strong financial position” to sustain a prolonged Covid-19 crisis, as it recorded “positive organic growth” in the first quarter of 2020. Despite a recorded 14% drop in organic growth, its EBIT margin was 15.3% in the three months ended 31 March 2020. The group…
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Apr- 2020 -28 April
Laings recognised by Sunday Times Profit Track
Luxury jewellery retailer Laings has been named one of the fastest-growing UK companies for profits growth by The Sunday Times. The jewellers featured in the 21st annual Sunday Times Profit Track as one of Britain’s private companies with the fastest-growing profits over the last three years. It ranked at number…
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23 April
One in six shopworkers abused daily during pandemic, says Usdaw
Shopworkers’ trade union Usdaw has released statistics revealing one in six shop workers have suffered abuse on every shift, during the coronavirus pandemic. The statistics revealed 62% of the 4,928 shopworkers surveyed have experienced verbal abuse, with almost a third being threatened by a customer. Usdaw also revealed 4% of employees were…
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6 April
De Beers Group CFO to depart in July
De Beers Group announced that its chief financial officer, Nimesh Patel, will leave the business at the end of July after four years with the company. Patel will now move from his position to join Spirax-Sarco Engineering as its new CFO and executive director. He joined Anglo American in 2012…
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Mar- 2020 -30 March
Beaverbrooks closes website and warehouse operations
Beaverbrooks has closed its website and warehouse operations until further notice. Anna Blackburn, managing director at Beaverbrooks, said the company made the “difficult decision” to close its website and warehouse operations to “protect” its colleagues, their families and the wider community. She added: “As a family owned business, the safety…
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23 March
H.Samuel announces temporary store closures amid Covid-19 virus outbreak
High street jewellery store H. Samuel has announced the temporary closure of all its stores amid the recent outbreak of the Covid-19 virus. The retailer announced all store closures will take effect from today (Monday 23 March) but its website will be “open as usual.” In a statement, the retailer…
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