UK coronavirus: Which retailers are open under lockdown rules? March 25, 2020 The government announced a UK coronavirus lockdown on Monday evening, putting limits on work, socialising and going outside. Addressing the nation, the prime minister said “I must give the British people a very simple instruction – you must stay at home”. Boris Johnson said police will break up public gatherings of more than two people, [...]
UK retailers most pessimistic since financial crisis amid coronavirus outbreak March 25, 2020 UK retailers are at their most pessimistic since the financial crisis as sales of non-essential goods plummet due to coronavirus containment measures, a survey has shown. However, grocers and other food firms have seen a surge in demand as Brits stockpile during the coronavirus lockdown, the CBI said today. This divergence of fortunes for Britain’s [...]
Coronavirus: Upper Crust owner SSP launches major cash call and cuts jobs March 25, 2020 The owner of Upper Crust and Camden Food Co. SSP will issue new shares and slash jobs it said in a wide-ranging trading update on its strategy to survive the coronavirus slump. SSP will close outlets and reduce staff after encountering a 85 per cent plunge in business across its European sites amid the coronavirus [...]
Halfords suspends dividend after forecasting a 25 per cent drop in sales March 25, 2020 Halfords has suspended its dividend to shore up its balance sheet after forecasting a 25 per cent drop in sales amid the coronavirus outbreak. The retailer anticipates a sharp drop in sales, of around £300m, following the government’s tightening of restrictions, but shares soared 56 per cent in morning trading before trading up 22.63 per [...]
Amazon and Ebay blasted over failure to crack down on virus profiteers March 25, 2020 Amazon and Ebay are failing to clamp down on coronavirus profiteers using their platforms to sell products at “ridiculous” prices, a new investigation has revealed. Third-party sellers have been accused of exploiting the pandemic to ramp up prices for products that are difficult or impossible to find in local shops. Household items including cleaning products, [...]
Coronavirus: UK grocery sales soar £470m due to panic buying March 24, 2020 Grocery sales at UK supermarkets soared by £467m as customers stockpiled amid escalating fears over the spread of coronavirus in the UK, according to the latest research. Food sales jumped 22 per cent year-on-year in the week ending 14 March driven by an increase in essential household items and long lasting foods. Supermarkets were forced [...]
888 Holdings shares soar as punters move to online gambling March 24, 2020 Shares in online gambling firm 888 Holdings jumped more than 30 per cent after it said average daily revenue in 2019 was up 18 per cent. 888 said there had been evidence of increased customer activity in the group’s casino and poker products amid the coronavirus outbreak, which may compensate for the sports betting disruption. [...]
Coronavirus: Moody’s downgrades Cineworld after site closures March 24, 2020 Moody’s has downgraded Cineworld after the cinema chain was forced to close all of its screens across the US and Europe in order to slow the spread of coronavirus. The two notch ratings downgrade was triggered by the temporary closures, which have been ordered by governments due to the coronavirus pandemic. Moody’s downgraded the cinema [...]
Sports Direct hikes prices after store closures amid coronavirus crisis March 24, 2020 Mike Ashley’s Sports Direct has reportedly hiked the price of some sports equipment by as much as 50 per cent amid the coronavirus crisis. The retailer has increased the price of exercise equipment such as skipping ropes and weights, according to documents seen by the Press Association. It comes on the same day Sports Direct [...]
Waitrose and Lidl impose stricter coronavirus measures in supermarkets March 24, 2020 Supermarkets are ramping up measures to protect staff and customers amid the coronavirus outbreak as the UK heads into lockdown. On Monday, Prime Minister Boris Johnson ordered all “non-essential” shops to close, leaving just supermarkets and pharmacies among those still open. Supermarkets have struggled to keep shelves replenished as Brits stockpiled goods amid the outbreak, [...]