Coronavirus: Marks & Spencer warns on profit as it considers store closures March 20, 2020 Marks & Spencer issued a coronavirus-related profit warning today and alerted investors it may close stores temporarily amid the UK’s Covid-19 outbreak. Its clothing and home divisions have suffered a big hit already from the UK coronavirus crisis, Marks & Spencer warned. As a result profit could fall below expectations of £440m to £460m. “The [...]
Coronavirus panic wipes out FTSE 100 stimulus gains as European stocks sink March 18, 2020 Panicked investors this morning more than wiped out the gains the FTSE 100 made yesterday, as traders shrug off massive stimulus packages from governments and keep selling risk assets over fears of a coronavirus-induced recession. The FTSE 100 was last down 4.8 per cent, having shed 252 points to stand at 5,042 points. Read more: [...]
Morrisons defers dividend over coronavirus as profit rises March 18, 2020 Morrisons has announced its fourth consecutive year of profit growth, but will defer its dividend as it deals with the “unprecedented challenges” brought on by the coronavirus outbreak. Pre-tax profit rose three per cent to £408m, while sales were down 1.1 per cent to £17.5bn. Despite an increase in sales and profit growth for the [...]
Coronavirus: Morrisons ramps up delivery service to cope with demand March 17, 2020 Morrisons has launched a range of measures to help customers and employees during the coronavirus pandemic, including ramping up delivery options and a hardship fund for workers. The grocer has expanded its home delivery service including extra slots, a new range of “simple to order food parcels” and a phone ordering option for those without [...]
Coronavirus: Supermarkets mull streamlining stores to cope with spike in demand March 16, 2020 The biggest supermarkets in the UK are mulling cutting cafe, counters and other services to focus on maintaining basic provisions as the demand for essential items and hygiene products soars during the coronavirus outbreak. Bosses are stepping up their contingency plans to keep stores running if staff take sick leave or if a potential mass [...]
Coronavirus: Supermarkets urge customers to stop stockpiling March 15, 2020 UK supermarkets have called on the UK public to stop stockpiling in response to coronavirus as fears mount that some people could be left without essential products. In an open letter to customers, the country’s biggest food retailers, including Sainsbury’s, Tesco Asda and Morrisons, called on consumers to “be considerate in the way they shop” [...]
FTSE 100 climb cools as WHO declares Europe new centre of coronavirus pandemic March 13, 2020 The FTSE 100 made a slight recovery following its worst day of trading since 1987 despite the World Health Organisation declaring the Europe as the new centre of the coronavirus pandemic. London’s blue-chip index rose by 2.46 per cent, or 128.63 points, despite having been up almost six per cent in early trading, to finish [...]
Coronavirus: Supermarkets rebound but leisure stocks suffer March 13, 2020 Supermarket stocks made gains this morning after being dragged down by a mass FTSE 100 sell off sparked by mounting coronavirus fears. Sainsbury’s share price jumped 8.02 per cent to 188.97p, Tesco was up 10.46 per cent at 233.3p and Morrisons climbed 7.98 per cent to 178p. Grocers are positioned well to ride out the [...]
Morrisons moves to support supply chain through coronavirus outbreak March 13, 2020 Morrisons will make immediate payments to smaller businesses and re-classify suppliers to help 1,000 more firms as it moves to protect its supply chain from the impact of coronavirus. The grocer will temporarily scrap its 14 day payment terms and pay small suppliers as soon as an invoice is received. Morrisons also said it will [...]
Budget 2020: Stamp duty hiked for overseas buyers March 11, 2020 The government will go ahead with plans to increase stamp duty for overseas buyers, chancellor Rishi Sunak announced today. He said the government will introduce a new stamp duty surcharge of two per cent for foreign buyers to make it easier for domestic buyers as part of a range of measures to tackle the housing [...]