Investing for Future: Short-term cost-cutting could have long-term impact

A unique set of circumstances created by the coronavirus epidemic has made investment more vital than ever for business, as consumers become ‘hyper aware’ of the activity of brands in times of crisis.

Hospitality biggest casualty as record UK recession confirmed

Britain’s economy shrank by 20.4% in the three months to June 2020, marking the deepest contraction currently of any major economy, with the Accommodation & Food sectors among the hardest hit, slumping by 86.7%.

Diageo GB’s full year results reveal impact of on-trade closure

Diageo’s full year results reveal a 47% fall in operating profits globally as a result of the pandemic, with net sales of spirits down 8% globally, and a 4% dip in the UK.

CyT Q2 results show “double-digit” uplift

Chilean producer Viña Concha y Toro has announced a 16.5% consolidated sales uplift in its Q2 results, posted today (31 July).

More than 53,000 outlets sign up for Eat Out To Help Out scheme

More than 53,000 restaurants, bars and cafes across the UK have signed up to the government’s Eat Out to Help Out Scheme offering diners a 50% discount during August.

Campari Group profits drop one third in Q2

The Campari Group has reported a 33.5% drop in net profit, down to €77.6m, across the second quarter of 2020, with sales down 11.3%, at €768.7m.

Border model could leave the UK between a rock and a hard Brexit

Pernod Ricard issues more upbeat guidance for 2020

Pernod Ricard is predicting a softer impact on its business as a result of the ongoing Covid-19 crisis, according to its latest guidance for its 2020 results.

UK Hospitality welcomes progress on business rates reform

The government has launched a fundamental review of business rates, beginning with a call for evidence. 

UK should embrace “best in class” IT to secure global drinks trading pre-eminence

The UK’s withdrawal from the EU and subsequent shake up of import-export requirements is an opportunity to implement a system that secures Britain’s place as the unrivalled hub of international drinks trading.

MPs launch probe into the impact of wine certification

A group of MPs is today launching an inquiry into the impact of wine certification set to be brought into force at the end of the Brexit transition period on 1 January 2021.  

Government to pay £1,000 “bonus" for every employee brought back from furlough

The government has announced a Job Retention Bonus to support furloughed employees and businesses back into work.

Covid-19 estimated to cost food and drink SMEs £21k each

New research has estimated that small hospitality businesses operating in food and drink will on average lose £21,586 in lost work, earnings and loan repayments as a result of Covid-19.

Government publishes re-opening guide

The government has this morning published the re-opening guide for the hospitality industry.

Amazon online drinks boom sustained by ‘grey pound’

Driven by the lockdown to online purchasing, some 3.3 million UK shoppers bought drinks via Amazon for the first time, with older shoppers predicted to uphold the trend.

NZW calls on UK to come with “fresh attitude” as trade negotiations begin

New Zealand’s wine sector has “warmly welcomed” the announcement that it is to begin trade negotiations with the UK, calling on Britain to come with a “fresh attitude”. 

Raab says ‘review’ to be completed within “coming weeks”

Foreign secretary Dominic Raab has said the government expects the next Covid-19 review, including if the 2 metre social distancing rule will be reduced, to be completed “within the coming weeks”. 

Hospitality responsible for a quarter of Britain’s GDP drop

Britain’s hospitality sector was responsible for nearly a quarter of the GDP losses felt by UK business in April, according to the latest UK Hospitality tracker.  

WSTA hits out at government for failing to count true cost of VI-1 certification

The WSTA has hit out at government for misleading the public over claims that EU wine importation costs would, according to Defra, be “nil or negligible”.

Sunak confirms “urgent comprehensive review” of 2 metre rule

Chancellor Rishi Sunak has confirmed PM Boris Johnson has ordered a “comprehensive review” on the 2 metre social distancing rule.