French Connection will run out of cash in coming months if current trading levels continue and it cannot secure additional funding.
Sofie Willmott, Lead Retail Analyst at GlobalData, a leading data and analytics company, offers her view on this news: “French Connection was struggling before the COVID-19 pandemic hit, but with the outbreak significantly impacting demand for apparel and accelerating changes in consumer shopping habits the outlook is now even more bleak for the premium retailer. Although it has seen UK and US online sales climb 44% in the past six weeks this will not be enough to make up for stores being closed, with the online channel only accounting for around a quarter of revenue prior to COVID-19. In addition, FY2019/20 online revenue fell 8.1% (to end January 2020) highlighting that its strong digital performance is coming from a low base and is not as impressive as it first
Pizza Express has become the latest restaurant chain to cautiously reopen its doors with plans for delivery food from 13 sites across London.
The decision to reopen the sites over the next ten days comes as Wagamama, KFC, McDonald’s, Greggs and Subway are all making similar plans or have started trading again after shutting due to the coronavirus lockdown.
Pizza Express will deliver an edited menu from restaurants in ‘London Villages’, including Notting Hill, Balham and Fulham, where demand is highest.
Wagamama today announced a rapid and widespread reopening of 67 of its restaurants after ‘successful’ trials in London and Leeds.
The chain said it hopes to have 49 sites open for delivery by the start of June, with this expanding to 67 by the end of the month.
Meanwhile service station operator Moto said it will be reopening seven Costa drive-through cafes and have 27 Burger Kings open for
Premier Mark McGowan has criticised the NSW and federal governments’ push for Western Australia to reopen interstate borders, citing the eastern states’ inconsistent health advice and high rates of community transmission.… Read More
Barry Bloom, a sports business contributor for Forbes for the past two years, has been hired by the new sports business publication Sportico.
He started on Monday.
Bloom has written about professional sports since 1976. He joined Sportico after covering baseball on and off the field for MLB.com from 2002 to 2018.
Previously to that, he worked for Bloomberg News and the San Diego Union-Tribune.
Bloom has been a voter for the National Baseball Hall of Fame since 1992 and in recent years has won five awards from the San Diego Press Club for best columns, news stories and features. His books include biographies of baseball’s Larry Bowa and Tony Gwynn, and he’s currently working on a project about the 1984-era San Diego Padres.