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Finance

Treasury to extend ban on commercial evictions into 2022

The Treasury is to extend the current ban on evictions for unpaid commercial rent past the end of this month and into 2022, after delaying the easing of further Covid restrictions.
Boohoo

Boohoo signs up to tougher ethical standards regime as sales continue...

Online young fashion giant Boohoo Group has agreed to sign up to a forensic supply chain initiative as part of a wider push to improve its ethical credentials.
Boris Johnson

Treasury rules out further financial support as 21 June reopening pushed...

The Government has confirmed it will not heed calls from industry to further extend furlough and other financial support as the Prime Minister announced a delay to his original road map out of restrictions.
Peter Cowgill

Shareholders “may well” vote against my bonus, says JD Sports chairman

The chairman of JD Sports has said that shareholders “may well” vote against the £4.3 million bonus that the company is set to award him despite taking Government support to furlough its staff.
Ted Baker store

Ted Baker sales hit as locked-down consumers shift away from suits

The shift to comfortable clothes, rather than formal suits and shirts, during the pandemic has hit sales hard at premium fashion and lifestyle brand Ted Baker.
Primark

UK economy grows with lockdown easing as consumers return to the...

The easing of lockdown restrictions in April helped the UK economy grow at its fastest rate since July 2020 as households returned to high street stores and took advantage of hairdressers reopening, according to new data.

Selfridges owners considering £4bn sale

The owners of iconic department store group Selfridges are reported to be considering a £4bn sale of the business.
Zara Inditex

Zara parent Inditex reports sales up beyond pre-pandemic levels due to...

Zara parent Inditex has said its latest sales are ahead of pre-pandemic levels after benefiting from a surge in online shopping.

Indoor hospitality reopening lifts retail sales in May

The reopening of indoor hospitality on 17 May, 2021, in England and Wales boosted retail sales for the month of May, according the latest data from the BRC-KPMG Retail Sales Monitor.
High streets shopping

BRC chief calls on MPs to extend rent moratorium or face...

British Retail Consortium CEO Helen Dickinson was one of a number of business leaders to call for more support for business - including an extension of the rent moratorium - at a meeting of the Treasury Select Committee yesterday.

Consumer spending rose 7.6% in May as lockdown restrictions eased

The further lifting of lockdown restrictions in May 2021 saw more Brits shopping and socialising, as consumer spending rose 7.6% compared to the same period in 2019 – the highest growth recorded since coronavirus restrictions began, according to the latest data from Barclaycard.
Clipper Logistics

Clipper upgrades guidance as online retail boom drives growth

Logistics giant Clipper has lifted its long-term trading forecasts after it was boosted by the continued boom in online retail following the pandemic.
Klarna

Klarna launches “game-changing” new online shopping checkout feature

Global banking, payments and shopping service Klarna has today launched its new “game changing” Shopping feature, allowing users to Pay in 3 in any online shop directly through the Klarna app, without ever paying more than the price of the product.
sports unlimited retail

JD Sports set to sell Sports Unlimited Retail

JD Sports Fashion has announced it is to sell its wholly-owned Netherlands-based Sports Unlimited Retail (SUR) business to its 50.02%-owned Spanish subsidiary Iberian Sports Retail Group (ISRG) for €16.5m.
Depop

Etsy to acquire global fashion marketplace Depop for $1.625 billion

Etsy has announced it has signed a definitive agreement to acquire global fashion marketplace Depop, for $1.625 billion.
manufacturing

Clothing and footwear shop prices continue to fall but at slowest...

Non-food shop prices continued to slow in May 2021, with prices falling by 0.8% compared to a decline of 1.7% in April. That’s above the
Seven Dials

Shaftesbury’s COVID-19 Community Fund provides £510,000 of support

London landlord Shaftesbury has today revealed its COVID Community Fund, which was established in April 2020, has provided £510,000 of support.
Peter Cowgill

JD Sports dismisses speculation it is looking to replace Cowgill

JD Sports has dismissed press speculation that it is actively looking for a replacement for its executive chairman Peter Cowgill.
Oxford Street

Two-thirds of retailers face legal action in July over unpaid rents

On 30 June 2021 the moratorium on aggressive debt collection from commercial landlords will end, opening up thousands of retailers to legal action, according to a new survey by the British Retail Consortium (BRC).

Germany’s Peek & Cloppenburg acquires Debenhams’ Magasin du Nord

Magasin du Nord, the Danish department store owned by collapsed UK chain Debenhams, has been acquired by Germany's Peek & Cloppenburg.