News
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Jun- 2020 -9 June
Consumer spending drops 26.7% year-on-year in May
Consumer spending contracted 26.7% year-on-year in May. This is according to new data from Barclaycard, which revealed that spending on essential items grew slightly by 0.9%. This was bolstered by a 24.5% rise in supermarket spend – which increased to 27% in the week preceding the VE Day weekend as…
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9 June
Bira opposed to proposed relaxation of Sunday trading laws
The British Independent Retailers Association (Bira) has expressed concern for proposed relaxation of Sunday trading laws. Under plans being suggested by the government, England could suspend Sunday trading laws for a year in a bid to boost the economy. However, Bira, who has added its support to the ‘Keep Sunday…
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9 June
Reed Exhibitions cancels IJL 2020
The organiser for International Jewellery London (IJL), Reed Exhibitions, has announced that the September event has been cancelled. The trade show was initially scheduled to take place at Alexandra Palace, London, between 13 September and 15 September 2020, but will no longer go ahead due to the ongoing Covid-19 pandemic.…
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8 June
BlueRock Diamonds completes $700k diamond sale
BlueRock Diamonds, a diamond producer that owns and operates the Kareevlei diamond mine in South Africa, has announced the private sale of 2,400 carats. The carats were sold at an average price of $290 (£229) per carat for a total of $700,000 (£552,000). According to the producer, the sale did…
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8 June
Say it with Diamonds sales surge amid lockdown
High-street jeweller Say it with Diamonds has reported a 267% sales uplift on engagement rings amid the nationwide lockdown. The surge in sales during March and April marked a notable difference from the amount of engagement rings sold in the same period the year prior. Over the same two-month period,…
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8 June
Sunday trading deregulation would be a ‘slap in the face’ for key workers, says Usdaw
Shopworkers union Usdaw has titled government plans for Sunday trading deregulation as a “slap in the face” for key workers and calls out the government failing to provide a “proper strategy “to help the retail industry. This move to deregulate Sunday trading hours would come across as an opportunistic use…
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8 June
Footfall begins ‘journey to recovery’ in May
Consumer footfall may have begun its “long journey to recovery” in the month of May, according to the latest figures from Springboard. Whilst footfall dropped by 73.3% in May, this still marked a “marginal improvement” from the month prior, when footfall saw a decline of 80.1% in light of the…
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5 June
Bira welcomes business rates revaluation postponement in Wales
The British Retailers Association (Bira) has welcomed the decision by the Welsh government to delay the revaluation of business rates. The announcement follows a similar ruling made in England on 6 May, which resulted in the government scrapping a bill to reevaluate business rates in 2021. The decision to postpone…
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5 June
Arnault son named as Tag Heuer CEO
LVMH has announced that Frederic Arnault, son of chief executive Bernard Arnault, will assume the position of CEO for Tag Heuer. Arnault’s new role will come into effect on 1 July. He had initially joined the watch group in 2017 as its strategy and digital director. In addition, LVMH announced…
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5 June
Consumer confidence slips further amid UK lockdown
GfK’s long-running Consumer Confidence Index has decreased by two points over the past two weeks. In the market research firm’s third Covid-19 flash report, it found that the measure for the general economic situation of the country dropped five points to -60 between 20 and 26 May. Additionally, the outlook…
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