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Beauty Fashion Model Girl in Mink Fur Coat

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Sky to open network of high street stores across UK | Business

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Sky is to launch a network of high street stores across the UK, saying it wants them to become “social hubs for shoppers”, with the first one opening in Liverpool on Monday despite tier 3 coronavirus restrictions.

The plan to start a network of stores, each of which will have a music venue-style “access all areas” stage to host various interactive experiences for customers, comes amid the closure of hundreds of shops as the pandemic takes its toll on the retail sector.

“We are proud to see our shops opening at a challenging time for the UK high street,” said Stephen van Rooyen, the chief executive of Sky UK and Europe. “We’ll bring service, innovation and convenience all in one place, under one roof, at a time when keeping people connected has never been more important.”

The media group said: “All shops will operate in line with the government’s Covid-19 safety measures, including strict social distancing, mandatory face masks and hand sanitiser available across the sho.”

In May, Virgin Media said it would shut its last 53 retail stores and disappear from the UK high street. The cable TV company, which had 140 stores in 2016, said the pandemic had accelerated a shift towards online customer service.

Sky said the stores would differ from those of its rivals, going beyond simply operating as a sales point for its TV, mobile and broadband packages. It wants them to become a new social hub for shoppers.

It plans to launch about five of the stores this year, with further openings in 2021. The shops will also offer a mobile repair service through a partnership with iSmash, the technology repair chain that has 31 stores in 10 UK cities.


Despite the pandemic, there is still demand among customers seeking an in-store experience, particularly as technology becomes more complex and expensive.

Many consumers buying an iPhone for about £1,000 , for example, will want to go further than a website or phone call to make sure they are making the right choice.

Last October, BT launched a revamp its 615 retail stores across the UK using its high street presence to push its goal of being viewed as a British “national champion”. The relaunch of the EE store chain – BT acquired the mobile company for £12.5bn in 2015 – with co-branding marked the first time the BT brand has been on store fronts since 2004.


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Snap results signal an online advertising ‘bonanza’ for tech companies

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Snap Inc. chief strategy officer, Imran Khan, takes a photograph on the floor of the New York Stock Exchange (NYSE) while waiting for Snap Inc. to post their IPO in New York, U.S., March 2, 2017.

Brendan McDermid | Reuters

Shares of tech companies in the advertising space rose Wednesday after Snap’s third-quarter results signaled strength in the ad market after a difficult year because of the coronavirus pandemic. 

Shares of Snap surged more than 21% in premarket trading as investors continued to rally around the company’s unexpected third-quarter earnings beat and strong advertising momentum. Shares in tech companies Pinterest, Facebook, Google-parent Alphabet and Twitter were also up. 

Deutsche Bank analysts wrote in a Wednesday note Snap’s results implied a “bonanza for online advertising.” 

Snap Chief Business Officer Jeremi Gorman said Tuesday the company saw positive momentum in the ad market, including in brand advertising, which was weak during the early days of the coronavirus pandemic. Snap’s ad revenue growth was 52% year-over-year. 

“We saw the beginnings of a recovery from brand advertisers, and continued resilience from direct response advertisers, reinforcing our confidence in the long-term positioning of our business,” Gorman said on the company’s earnings call. 

Deutsche Bank analysts said the results bode well for companies in the online ad space, and especially for Twitter, because of Snap’s comments on the acceleration of spend on the brand side.

Twitter’s business is especially driven by brand advertising and would see the benefit of a rebound in that spend. It’s viewed as a place for advertisers to appear alongside big events and sports, and less a place for direct-response advertising, in part because of technological issues it’s faced with the suite of products it uses for that capability. Twitter stock was up more than 5% Wednesday morning. 

Shares of Pinterest also jumped more than 8.5% in premarket trading, after both Goldman Sachs and Bank of America upgraded shares of the company to buy from neutral due to Snap’s earnings beat. Both of the firms said it viewed Snap’s strong quarter as a good sign for Pinterest. 

Snap’s results signal how advertisers are behaving in their spending on platforms outside of the behemoths of Facebook and Google. 

“Our field checks, along with Snap’s 3Q results, suggest that advertiser demand strengthened over the course of the quarter, particularly for smaller platforms like Pinterest, Twitter, and Snap,” Goldman Sachs said in the note. 

Facebook shares were up nearly 5% pre-market, while Google’s were up nearly a percent. 

–CNBC’s Michael Bloom contributed reporting.

Subscribe to CNBC on YouTube.


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Apple iPad Air 2020 review: A big upgrade

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Apple iPad Air 2020 review: A big upgrade