Monday Interview preview: It is an odd position, to say the least, for a hospitality company to be less than three weeks from Christmas with no real insight into when it will next be allowed to trade, writes Scott Wright.
This is 2020, of course, the year of coronavirus when all normal conventions are tossed into the air and cast to the four winds. Given the circumstances David Tracey, managing director of Manorview Hotels, is understandably cautious about the firm’s prospects for the festive season.
Also on Monday, economist Jeremy Peat says "seeking international comparators does not ease concerns" at a difficult time for studying forecasts in his Business Voices column.
In Mark Williamson's SME Focus this week, Douglas Stewart, of The Hebridean Food Group discusses its pre-prepared meals range that includes "chicken Braemar wrapped in streaky bacon and filled with Stornoway black pudding, served with buttery mashed potato and a rich peppercorn sauce".
Business Week: Luxury watch company in Scotland Brexit move hails new home | Lloyds chief lands new top job | Scotland's biggest M&S Food store opens
In the City this week, Ted Baker is set to reveal the progress of its turnaround plans as the fashion retailer is also expected to post a slump in sales following enforced store closures.
The retailer will share the impact of the tightening of pandemic restrictions in recent months with its investors in an update on Monday.
Ted Baker investors will be particularly keen to hear how it is moving forward with transformation targets it announced in June, in a bid to arrest potential losses.
In July, the London-listed company said it planned to cut at least 500 jobs - more than a quarter of its workforce - as part of its turnaround plan.
It came only six months after Ted Baker had announced 160 separate redundancies, to reduce costs.
It also said it plans to streamline its supplier base to about 100 firms, simplify its organisational structure and limit capital investment to £15 million annually.
"Even the best cost controls in the world can't make up for a severe lack of sales though, and ultimately it's the sales numbers which will be key to longer term recovery," said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.
"Ted Baker is feeling the pain because of its emphasis on occasion wear.
"Buying expensive new outfits holds a lot less appeal at a time when everything from weddings to birthday bashes and Christmas parties have been cancelled, drastically downsized or held virtually."
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