Retail sales fell in October as the second wave shut down demand for clothes shops and department stores again (The Telegraph). Retail sales fell at their fastest pace in four months in October as people reined in their spending in the face of more coronavirus restrictions, according to a closely watched survey (The Times £). Britain’s retail recovery slowed sharply this month as the second wave of the Covid-19 pandemic persuaded many shoppers to hold back on planned purchases (The Guardian).
The new £45 ceiling on contactless card payments probably caused supermarket spending to rise over the late summer and early Autumn period, and not panic buying, according to new data (The Daily Mail).
Unilever is to push ahead with unifying its legal structure in the UK, despite the threat from Dutch politicians of an “exit tax” in the Netherlands that could cost the consumer goods group €11bn. (The Financial Times £)
The collection of banks that steered The Hut Group towards its stock market listing have raised red flags over the company’s governance only a month after sharing £35 million in fees (The Times £). The Hut Group has come under fire from the banks that shared £35m in fees just over a month ago for advising it on its stock market float (The Daily Mail).
Farmers are warning they will still need thousands of foreign workers for the UK harvest next year despite a campaign to attract domestic workers. National Farmers Union (NFU) figures reveal only 11% of seasonal workers in the 2020 season were UK residents. (The BBC)
John Lewis has been granted permission to turn almost half of its flagship store on London’s Oxford Street into office space, as it tries to turn the business around to profitability. (The Telegraph)
Shoppers who tried to pay with cash have been forced to leave food and medicine behind after being turned away at the tills, Which? warned (The Telegraph). Stores refusing to accept cash have left consumers unable to buy basics such as groceries and medicine, according to Which? (The BBC).
Amazon has launched a dedicated “eco-friendly” shopping platform to help guide consumers in the UK and other European countries to household products with sustainable credentials. (The Guardian)
Revolution Bars has revealed it plans to close six venues putting 130 jobs at risk across the country as the impact of a 10pm curfew caused its bar sales to drop by a third (The Daily Mail). Revolution Bars has announced plans to close some sites after the government’s 10pm curfew cost it around a third of its revenue (Sky News).