Next suspends online shopping amid UK coronavirus outbreak March 27, 2020 Next has suspended all online operations in order to protect staff amid the UK coronavirus outbreak. The high street retailer said it has made the “difficult decision” to keep warehouse and distribution staff safe as the number of UK coronavirus cases continues to rise. The company said in a statement last night: Next has listened [...]
Coronavirus: Mike Ashley ‘deeply apologetic’ for series of mistakes March 27, 2020 Frasers Group boss Mike Ashley has said he is “deeply apologetic” for a series of blunders in the company’s handling of the coronavirus outbreak. The Sports Direct owner wrote an open letter in which he apologised for his own personal actions and those of the Frasers Group business. Earlier this week, the group had pledged [...]
Pursuing purpose, not profit, could help businesses grow a bigger pie for all of us March 27, 2020 The coronavirus crisis is highlighting one of the most fundamental tensions that business leaders face: do they pursue purpose or profit? Sainsbury’s chose purpose. They’ve reserved the first hour on every Monday, Wednesday, and Friday for elderly and vulnerable customers, and are giving them priority access for online delivery slots. The supermarket is also limiting [...]
Coronavirus: Consumer confidence plunges but avoids 2008 levels March 27, 2020 Consumer sentiment has plummeted due to coronavirus, although it has yet to fall to the levels reported during the 2008 financial crisis, according to the latest research. Sentiment dropped 29 points to minus 26 between December last year and this March, the sharpest quarterly fall in more than 10 years. However it is higher than [...]
Morrisons directors quit in corporate governance row March 26, 2020 Two Morrisons non executive directors have quit, reportedly due to a disagreement over corporate governance at the supermarket. Neil Davidson, chair of the corporate compliance and responsibility committee, and Tony van Kralingen, remuneration committee chair, have stepped down and will cease to be directors from 26 and 29 April respectively. The grocer said today that [...]
Coronavirus: Retailers pause online shopping over safety fears March 26, 2020 Retailers have started to close down their online operations as well as physical stores in response to the coronavirus outbreak, citing concerns over the safety of their warehouse workers. High street chains Next, Moss Bros and River Island have today temporarily closed their internet shopping services, despite government guidance that online retailers can continue to [...]
Topps Tiles warns on profit and suspends dividend March 26, 2020 Topps Tiles has issued a profit warning and does not expect to pay a dividend this year as it closes stores amid the coronavirus outbreak. The tile specialist said the pandemic will result in a “material reduction” to expectations for revenue and profit and is not expecting to pay an interim dividend this financial year. [...]
Dixons Carphone posts surge in online shopping as Brits work from home March 26, 2020 Dixons Carphone has reported a huge increase in online sales as Brits splash out on laptops, TVs and kitchen appliances to cope with coronavirus quarantine. The retailer today posted a 72 per cent increase in online sales of electrical goods in the three weeks to 21 March. The boost was driven by booming demand for [...]
Intu sees rent payments dive amid UK coronavirus crisis March 26, 2020 Struggling retail landlord Intu has received less than a third of rent due for its second quarter as retailers struggle to pay the bills amid the UK coronavirus crisis. That forced it to abandon 2020 guidance as its incredibly low shares dropped three per cent to under 4p. The government has ordered almost all shops [...]
UK retail sales miss expectations before March’s coronavirus hit March 26, 2020 UK retail sales slumped 0.3 per cent in February to miss expectations of a small rise of 0.2 per cent. And core UK retail sales dropped 0.5 per cent on a monthly basis, deeper than expected in February, despite few businesses seeing the coronavirus-led slowdown that has wrought havoc in March. Excluding fuel, UK retail [...]