HELLO and welcome to the AM Business Briefing as official figures revealed a contraction in the UK economy in July followed by growth in August as the complete lifting of coronavirus restrictions boosted events and hospitality .
The Office for National Statistics said gross domestic product increased 0.4% between July and August.
Data showed further signs of a slowing UK recovery from the pandemic as global supply chain problems take their toll, with August’s figure lower than expected, while the ONS also lowered its estimate for July to a contraction of 0.1% from 0.1. % expansion before.
The economy is also expected to grow 2.1% in September to stay on track with the Bank of England forecast for overall growth of 2.1% in the third quarter.
The Marston’s advertising group has bounced back above levels seen before the pandemic thanks to the complete lifting of restrictions this summer.
The company said comparable sales in the July 25-October 2 quarter were 2% higher than in 2019 at its fleet of around 1,500 pubs.
Also today, a new flooring store in Glasgow turned out to be the most successful opening in the history of the British retailer, North Sea oil companies backing plans to develop a factory hydrogen production plant in Orkney, and Menzies Distribution welcomes a major five-year agreement with a chip machine.
Retailer hails Glasgow’s success
A £ 200,000 investment in a new store in Glasgow by a national flooring retailer generated record sales in the first month of opening.
Flooring Superstore opened a 7,256 square foot outlet in the city’s Baird Street Business Park in August, creating four new jobs.
In the first month of trading, sales exceeded all expectations by 130%.
He said this made the Glasgow store one of the most successful in the history of the rapidly growing retailer.
Glasgow was the 16th store launched by Flooring Superstore since April 2021. It follows the opening of the retailer’s only other Scottish store, in Edinburgh, in 2018.
Greig Anderson, Regional Director of Flooring Superstore, said: “We couldn’t be happier with the response to the new store and the fact that our sales forecast was exceeded by an incredible 130% is proof of that.
“It proves we were right to wait for the right place to show up, and it’s fantastic that buyers have embraced our brand so quickly, and we want to thank everyone who has supported us so far.”
Flooring Superstore now has over 40 stores across the UK and is on track to hit its target of 50 by the end of 2021.
He added, “We are in the unique position of being able to supply all types of flooring under one roof, and to be able to offer them at prices online, reflecting our origins as an e-commerce retailer.
“Less than ten years ago you could only buy our products online, but now people can also do so at over 40 locations across the UK, from Glasgow in the north to Southampton in the south.
“We are now focused on our own contribution to Glasgow’s retail economy, which is especially important given the struggles of the past 18 months. ”
As part of its corporate social responsibility program, Flooring Superstore is now reaching out to local charities, volunteer organizations or other good causes in Glasgow to see if they would benefit from donating flooring for a particular project.
Plan for the Orkney hydrogen plant to exploit the output of the wind farm
North Sea oil companies are supporting plans to develop a pioneering hydrogen production plant in Orkney.
TotalEnergies and Repsol Sinopec are supporting a proposal to transform the Flotta oil terminal in the Orkney Islands into a green hydrogen production hub, which would be powered by renewable energy from a wind farm off the islands.
Menzies Distribution wins five-year contract with potato chip maker
One of the UK’s leading logistics providers, Menzies Distribution, fought competition for a five-year contract with Burts Snacks, a Devon-based producer of artisanal potato crisps and top snack products range.
Menzies, which opened a new distribution center in Elgin, Moray this summer, won the “substantial” contract following a tender.
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