John Lewis is to shut eight more stores in a move which will put 1,465 jobs at risk.
The department store retailer told staff on Wednesday morning that it will not reopen the stores after lockdown measures lift, as it undergoes a major shift in strategy to adapt to changing shopping habits.
The eight shops set to close comprise four At...
The UK economy showed strong signs of growth in March, hitting a seven-month high, as the optimism over the vaccine rollout saw businesses increase their spending, according to new data.
The closely-followed IHS Markit/CIPS Flash UK Composite PMI report came in at 56.6, with anything below 50 seen as a market in contraction.
This improved from February’s contraction of 49.6.
Data collected...
Wickes saw a quadrupling of click-and-collect orders last year, the company revealed as it progressed plans to split from parent Travis Perkins and list on the London Stock Exchange.
The DIY and home improvement retailer said it saw a doubling in digital customers last year, with click-and-collect orders rising 450% and deliveries to customers’ doors jumping 120%.
Owner Travis Perkins on...
The UK’s rate of inflation unexpectedly eased last month amid falls in the prices of clothes, second-hand cars and toys, according to new official data.
The Office for National Statistics (ONS) said the Consumer Prices Index (CPI) rose by 0.4% in the 12 months to February this year.
It was down from the 0.7% measurement in January and 0.6% in December.
ONS...
Tui is planning to close 48 more retail stores in the UK.
The UK’s biggest tour operator said the travel industry and the high street “are both facing unprecedented pressure” due to the coronavirus pandemic.
All 273 employees affected by the decision will be offered new roles in other locations, it added.
This comes after Tui announced in July last year that...
McColl’s has said its losses narrowed over the past year as more people shopped at their local convenience store during the pandemic.
The retailer told investors on Tuesday that it delivered a £2.7 million pre-tax loss in the year to November, improving from a £95.9 million loss in the previous year.
This was driven by cost improvements and an increase in...
Profits at the UK’s biggest pawnbroker, H&T, slumped by 22% in 2020 as the pandemic saw fewer customers needing to sell their assets, the company said.
With large swathes of the economy shuttered, bosses said the demand for cash fell as Covid-19 restrictions in the hospitality and travel sectors saw households becoming savers rather than spenders.
H&T added that its pledge...
Labour is urging ministers to create a “level playing field” between high street retailers and online sales giants such as Amazon.
Campaigning in Birmingham ahead of the local elections in May, shadow chancellor Anneliese Dodds said the Government needed to put a stop to online firms paying “little to no tax” and allowing them to “undercut” rate-paying shops.
Ms Dodds warned...
Takeaway company Deliveroo is expected to be valued at up to £8.8 billion when it starts selling its shares on the stock exchange in London.
The business aims to sell shares for around 390p to 460p each, it revealed on Monday, in what is expected to be one of the biggest public listings of the year.
The share price will value...
The owner of B&Q has cashed in on a DIY boom as millions of people stuck at home tried to improve their living conditions.
Kingfisher said it had seen pre-tax profits balloon 634% from £103 million to £756 million in the 12 months to the end of January.
Sales increased by 7.2% during the same period to £12.3 billion, the company...
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