Store landlords face a battle for a cut of online sales

Laveta Brigham

If retailers want leases that reflect modern shopping habits, should they hand over a cut of online sales to their landlords?

Some property owners think this would be a fair trade off in the clamor for more flexible rent arrangements. So far, though, there is no good way to measure what landlords might be entitled to and tenants have few reasons to play ball.

RETAILERS LOOK TO SELL PRE-OWNED CLOTHING IN PANDEMIC PERK UP

From global fashion players like Zara and H&M to mom-and-pop stores, most retailers are demanding better terms from landlords as the Covid-19 pandemic slows sales, particularly offline. In the U.K., shop owners received only two-thirds of the quarterly rent they were owed in the three months to Sept. 22, according to data by Remit Consulting. More tenants

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Want To Generate More Sales This Holiday Season? Take This One Step.

Many small business owners know they should get set up to do business online, as more consumers embrace buying online and move away from paying with cash.

“The need and desire to bring their businesses online continues to accelerate,” says Kevin Phalen, Visa’s Global Head of Business Solutions. 

Fortunately, there’s still time before the holidays—an important selling season for nearly 70% of small businesses, according to Visa’s new “Back to Business, Holiday Edition” survey.

And the research shows it could pay off: 52% of consumers plan to do half or more of their holiday shopping online, and consumers plan to give 32% more digital gift cards than in previous years.  

“Consumers are saying ‘I want to shop the way I

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Everything you need to know about this big sales event

Laveta Brigham

The Daily Beast

‘Uncontrolled Forest Fires’: The Fall Coronavirus Surge Is Already Here

A little more than three months ago, Lawrence Gostin, a professor at Georgetown University and the director of the World Health Organization’s Collaborating Center on National and Global Health Law, warned that a new surge of COVID-19 infections could appear in the fall.He wasn’t exactly alone in anticipating the combination of cooler weather and more indoor gathering might make for pandemic trouble. Still, according to a slew of recent data, news reports, and conversations with experts, that surge appears to already be upon us.The only wrinkle? A second wave of coronavirus infections in the United States will look less like a tsunami and more like a “series of uncontrolled forest fires,” as Gostin told The Daily Beast, nodding to the blazes that have consumed the West in recent weeks and shown little sign of abating.“I see zero

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Everything you need to know about Amazon’s big sales event

Laveta Brigham

The Guardian

Trump reels from taxes bombshell as he gets set for crunch debate with Biden

* President under pressure from New York Times revelations * First TV head-to-head takes place in Cleveland on TuesdayDonald Trump heads into the first US presidential debate against Joe Biden on Tuesday night trailing in opinion polls and now reeling from dramatic newspaper revelations detailing his chronic financial losses and years of tax avoidance.Trump paid just $750 in federal income taxes in 2016, the year he ran for and won election, the New York Times reported. In 2017, he paid only $750 again. And he paid no federal income tax at all in 10 out of the previous 15 years.Evidence that Trump is paying much less than many of his working-class supporters is likely to be weaponized by Biden, his Democratic rival, when the two men go head to head for the first debate

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Nike shakes off pandemic blues with surging online sales

Laveta Brigham

NEW YORK (AP) — Nike appears to have recovered from its pandemic slump, posting a solid quarterly profit driven by soaring online sales of its sneakers and workout apparel.

The world’s largest sports apparel maker on Tuesday reported a net profit of $1.5 billion profit, or 95 cents per share, in the three-month period ending Aug. 31, up 11% from the same 2019 quarter.

That was well ahead of Wall Street analysts’ expectations of 47 cents a share, according to FactSet. Nike’s stock surged 13% in after-hours trading following the release of the results.

In previous quarter that ended May 31, the Beaverton, Oregon-based company reported an unexpected loss, with its revenue falling 38% after digital sales failed to make up for losses in physical stores shuttered to combat the spread of the coronavirus.

But analysts had predicted a rebound because Nike has been popular with online shoppers.

In the

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Confirmed date and what to expect in the sales

Laveta Brigham

With slashed prices across tech, beauty, home appliances and furniture, we'll be sourcing the best deals across the event (The Independent)
With slashed prices across tech, beauty, home appliances and furniture, we’ll be sourcing the best deals across the event (The Independent)

The biggest shopping event of the year, otherwise known as Black Friday, will take place on Friday 27 November this year.

As the event originally hails from America, the date always falls the Friday after Thanksgiving, and then is followed by Cyber Monday (30 November) which is traditionally the online-only day of the sale.

Although this year, because of coronavirus, more shoppers are likely to buy online on Black Friday rather than in physical shops.

With a range of retailers set to slash their prices on big ticket items like TVs and coffee machines, it’s the best time of the year to find a deal and of course, get your Christmas presents sorted.

Since Amazon first brought the event online in the UK, it has overtaken other big annual

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Trainline ticket sales dive, IG’s revenue jumps, and Next upgrades profits

Laveta Brigham

Commuters wait to board a London Midland train at Tile Hill train station in Coventry. Photo: PA
Commuters wait to board a London Midland train at Tile Hill train station in Coventry. Photo: PA

Here are the top business, market, and economic stories you should be watching today in the UK, Europe, and abroad:

Trainline ticket sales dive

The COVID-19 lockdown hit ticket sales at train booking app Trainline (TRN.L) hard in the first half of the year, the company said on Thursday.

Trainline said UK train ticket sales fell by 85% in the six months to the end of August, contributing to a 76% fall in group revenue.

The company said train travel was beginning to recover, “albeit more slowly than previously expected.” Trainline said it was “phasing its operations back to normal” and planned to redouble investment in digital.

“I’m pleased to now see the industry recovering, particularly in our International markets, as well as a faster shift to online reservation and digital ticketing, as

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Market report:Trainline ticket sales dive, IG’s revenue jumps, and Next upgrades profits

Laveta Brigham

Here are the top business, market, and economic stories you should be watching today in the UK, Europe, and abroad:

Trainline ticket sales dive

The COVID-19 lockdown hit ticket sales at train booking app Trainline (TRN.L) hard in the first half of the year, the company said on Thursday.

Trainline said UK train ticket sales fell by 85% in the six months to the end of August, contributing to a 76% fall in group revenue.

The company said train travel was beginning to recover, “albeit more slowly than previously expected.” Trainline said it was “phasing its operations back to normal” and planned to redouble investment in digital.

“I’m pleased to now see the industry recovering, particularly in our International markets, as well as a faster shift to online reservation and digital ticketing, as anticipated, given the increased customer need for touchless travel,” chief executive Clare Gilmartin said.

Shares were up

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House builder’s profit slumps, losses deepen at Galliford Try and Zara sales slide

Laveta Brigham

Here are the top business, market, and economic stories you should be watching today in the UK, Europe, and abroad:

House builder’s profit slumps

House builder Redrow (RDW.L) saw its profits slump by two thirds last year as COVID-19 disrupted construction and sales.

Pre-tax profit at the business fell 66% to £140m ($180.5m) in the 12 months to 28 June 2020, the company said. Revenue dropped 37% to £1.3bn.

Chief executive John Tutte said the pandemic had “a profound impact upon the Group’s performance in the 2020 financial year but we entered the new financial year in a position of strength.”

“We have a record order book and brought forward very high levels of work in progress,” he said. “This was due in part, to increased investment earlier in the year in anticipation of strong demand for the Help to Buy scheme ahead of changes to the scheme next year.”

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HSBC Life, AIA, BOC Life among Hong Kong insurers expanding online sales channels, medical products as pandemic causes worst slump on record

Laveta Brigham

Hong Kong insurance companies are developing more online sales channels and introducing more medical and retirement products to boost sales as the sector is poised for its worst slump on record, according to industry players.

Mainland Chinese, until now huge spenders on Hong Kong insurance policies, spent only HK$839 million (US$108 million) on them in the second quarter, down 85 per cent from the first three months. In the first half, their spending dropped 76 per cent year on year, according to Insurance Authority data.

Coronavirus travel restrictions have prevented mainlanders visiting Hong Kong to buy the policies.

Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China.

“The full-year sales are not looking good. Cross-border traffic has not picked up. The government has tightened social distancing since July due to the third wave of infection. This has stopped the 100,000 salespeople

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