Industry Professionals Decry Cancellation of Extra Bank Holiday in 2025

The day would have provided an opportunity to remember and a break from work

A recent announcement from Number 10 has confirmed that the proposed extra bank holiday in 2025 has been cancelled. Initially, there were speculations that an additional day off would be added to commemorate the conclusion of WWII, but this has been officially declared as not happening.

Leaders in the UK's hospitality industry have expressed their disappointment with the government's choice to abandon the extra bank holiday. They argue that such days are crucial for generating additional revenue in their sector.

Their sentiments mirror those from 2022, advocating for the permanent inclusion of an extra bank holiday to celebrate the late Queen's Platinum Jubilee. Martin Williams, a former figure in the M Restaurants and Gaucho group, has described the decision to cancel the 2025 holiday as "missed potential."

Williams stated: "The additional bank holiday would have been a vital stimulus for the hospitality sector amidst the economic challenges posed by the recent budget. Local pubs and independent eateries would have greatly benefited from it—a missed opportunity indeed."

A representative from UKHospitality told City AM: "Bank holidays are peak times when people in Britain prefer to dine out or take a mini-break, which naturally leads to an increase in sales for hospitality businesses. As the industry grapples with rising costs, high-demand periods like bank holidays, Easter, and summer vacations become even more significant for driving sales."

A spokesperson for the Campaign For Real Ale added: "Bank holidays are golden opportunities for the beer and pub sector. They offer an additional day of support for public houses, social clubs, and taprooms seeking to enhance their business."

"The pub industry continues to face financial hurdles, including soaring energy bills and escalating costs. CAMRA’s data indicates that pub enterprises are experiencing unprecedented turnover rates and are still confronting a severe decline in the number of licensees able to maintain their operations in the UK.

“Public houses are essential for community unity, offering inviting spaces for social engagement and aiding in the fight against loneliness. They remain central to our neighborhoods, and bank holidays are an excellent occasion for people to gather at their local pub to enjoy a pint with loved ones.”

The economic impact of additional bank holidays is significant, with most of the private sector ceasing operations for an extra day. Studies suggest that an extra bank holiday could cost the UK economy approximately £2.4 billion.

A spokesperson for Number 10 remarked: "The 80th anniversaries of VE and VJ Day will be monumental occasions for our nation, as we unite to honor the memories of those who served and the legacy they have left us.

"We are dedicated to commemorating these significant national events with the appropriate respect, which is why we have allocated over £10 million for events to mark these anniversaries.”

Sainsbury's Employees to Receive Salary Boost Following Successful Holiday Season and Market Share Gain

Even though Sainsbury's reported a fifth straight Christmas of increased grocery market share, with a nearly 4% rise in sales, its shares slightly declined on Friday morning. CEO Simon Roberts informed investors: "Taste the Difference products were included in half of the large Christmas baskets, contributing to a 16% sales increase, surpassing all main competitors." He also noted a nearly 40% increase in party food sales at Sainsbury’s and that in the critical days leading up to Christmas, over 200 bottles of sparkling drinks were sold every minute, with more than a third being from the Taste the Difference range, as City AM reported. Over the six-week holiday period, retail sales rose by 3.8% year-on-year, while total sales increased by 3.7%. However, Sainsbury’s share price fell over 2% to 256.20p on Friday morning. Richard Hunter, Head of Markets at interactive investor, observed: "share price reactions to the updates have been mixed, with some investors choosing to disregard the Christmas period's success and focus on the upcoming challenges." In its announcement, Sainsbury’s credited part of its growth to its Nectar card prices. The company also affirmed that it is on track to achieve an additional profit of at least £100m in the three years up to FY26/27. It was revealed that a quarter of UK residents visited the Argos website during the Black Friday weekend, indicating a "significant year-on-year increase". The third quarter saw the largest sales in technology. Nevertheless, the toy market was lackluster, and demand in higher-priced categories like furniture and consumer electronics remained low. The supermarket chain stated it is making "good progress towards our goal of achieving £1bn in cost savings by March 2027". Sainsbury’s has announced a 5% pay increase for retail staff this year, divided into two increments in March and August. The company believes this will "help us navigate a challenging cost environment while continuing to lead the industry in employee compensation". Both Sainsbury’s and Argos employees will see their hourly wage rise to £12.45 in March and £13.70 in London, with a further increase to £12.60 per hour in August and £13.85 in London. Roberts explained: "Our team members are essential to our Sainsbury’s plan, and we are pleased to announce a 5% pay raise for our hourly-paid staff this year, in two stages, to help manage the tough cost inflation environment." "We are committed to rewarding our team well for their service and productivity, and we will be the highest-paying UK grocer from March," he added. This follows Roberts' warning in November about the government's national insurance increase leading to higher prices for consumers, adding £140m to the supermarket’s expenses. "In the supermarket sector, where prices are key to success, staying competitive comes at a cost. For Sainsbury, the investment in

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EasyJet sees losses narrow and says demand for summer flights is 'continuing'

EasyJet has confirmed its full-year profit guidance after quarterly losses more than halved and booking momentum continued to build ahead of the busier Easter and summer months. The budget airline expects to report a headline pre-tax profit of £709m in 2025, up from a prior year haul of £610m and in line with consensus, as reported by City AM. It announced on Wednesday that quarterly passenger growth had increased seven per cent to 21.2m, while group revenue rose 13 per cent to £2.04bn. Losses in the three months ending 31 December narrowed from £126m to £61m, driven by the strong performance of its holiday arm, EasyJet Holidays. EasyJet Holidays delivered £43m in profit over the period, up around 40 per cent year-on-year. The division said it expects its customer base to grow by around a quarter in 2025. CEO Kenton Jarvis, the former EasyJet CFO who replaced Johan Lundgren at the turn of the year, said there had been "continuing demand" for flight and holiday bookings over the summer. First half bookings are already 93 per cent sold. "We have one million more customers already booked, with firm favourites like Palma, Faro and Alicante as well as new destinations like Tunisia and Cairo proving popular," Jarvis added. "All of this demonstrates positive progress towards our medium term target to deliver more than £1bn of profit before tax." Shares are up around 1.42 per cent over the last 12 months. Aarin Chiekrie, an equity analyst at Hargreaves Lansdown, commented: "Demand trends have been strong, and with short-haul capacity across Europe remaining constrained, easyJet’s been able to hold prices firm." He also noted that "Passenger numbers were up 7% meaning its planes are flying even more full, on average, as consumers remain unafraid to spend their hard-earned cash chasing the sun. Alongside lower fuel prices, all of these dynamics are having a positive impact on profitability."

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Debenhams makes first profit since Boohoo rescue despite sales halving

Debenhams, acquired by Boohoo from administration in 2021, has reported a turnaround to profitability even as revenues experienced a more than 50% reduction. In the period ending 29 February, 2024, the retailer recorded a pre-tax profit of £4.5m, contrasting sharply with a pre-tax loss of £732,000 in the previous year. Revenue declined to £39.7m from the earlier figure of £87.1m. Looking back further, Debenhams' revenue was £56.9m, alongside a pre-tax loss of £11.7m, as reported by City AM. Nonetheless, the company's gross merchandise value saw a considerable increase to £359.6m — a 65% rise — and its EBITDA also doubled, reaching £10.4m. UK sales decreased from £73.5m to £39.7m, while international revenue streams dried up, having contributed £13.5m in the preceding financial cycle. The workforce size at Debenhams also dropped significantly, falling from 115 employees to just 24 over the course of the year. The numbers detailed belong solely to DBZ Marketplace Online Ltd, operating under the Debenhams name, not to be confused with Debenhams Brands Online Ltd, which includes such labels as Burton, Dorothy Perkins, Wallis, and Oasis within the Boohoo portfolio. This newer entity, incorporated in May 2023, achieved sales totalling £138.6m and a pre-tax profit of £950,000 for the year ending on 29 February, 2024. Dan Finley, CEO of Boohoo and Debenhams, commented on the results: "Debenhams is an iconic British heritage brand. ". The company behind the revival of Debenhams has expressed optimism about its transformation into "Britain’s online department store." A spokesperson for the firm stated: "We bought it out of administration and are making great progress transforming it into Britain’s online department store." They added, "The market place model is stock-light, capital-light and highly profitable, as these results show. There is lots of opportunity ahead and we are focused on realising that for the benefit of all shareholders." The positive sentiment was further underscored by the announcement: "We have previously announced that the current year started strongly for Debenhams." These latest updates on Debenhams follow the disclosure of financial outcomes for other brands under the Boohoo umbrella towards the end of November. Notably, Prettylittlething reported a shift from a pre-tax profit of £22m to a loss of £6.5m, with revenue dropping from £634.1m to £475.8m. While Boohoo regularly reports its group results to the London Stock Exchange, detailed financial accounts for its individual brands are only made public annually via Companies House filings.

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Boohoo shareholders vote to keep co-founder on board in Mike Ashley battle

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Creative hub gets £1.5m boost to add two new floors to 'maker space'

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Vodafone and Three's £16.5bn mega merger approved by competition watchdog

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Nando's to open new restaurants across UK after slashing loss

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