UK retail sales suffer worst fall in 25 years due to lockdown April 16, 2020 UK retail sales suffered the worst decline on record last month due to the coronavirus lockdown, however food and online sales jumped as Brits stayed at home. Total UK retail sales decreased 4.3 per cent in March, against a drop of 1.8 per cent in 2019, which is the worst fall in 25 years, following [...]
Dunelm boss takes 90 per cent pay cut as retailer seeks coronavirus loan April 16, 2020 The chief executive of Dunelm will take a 90 per cent pay cut, the homeware retailer announced this morning as it confirmed it is eligible for a coronavirus loan. Chief executive Nick Wilkinson will be paid 10 per cent of his salary for at least three months, while chairman Andy Harrison and other non-executive directors [...]
Coronavirus: Global stocks set to sink as economic reality bites April 16, 2020 Global stocks were set to fall today as “ugly” economic data and weak bank earnings suggest a recession is on the horizon. Asian stocks dropped today, with Japan’s Nikkei falling 1.2 per cent while Hong Kong’s Hang Seng index dropped 0.7 per cent. That came after Goldman Sachs, Bank of America and Citi all saw [...]
FTSE 100 falls as fears over coronavirus crash grow April 15, 2020 The FTSE 100 has tumbled as investors brace themselves for an extension of coronavirus lockdown measures and as warnings about the economy grow louder. Britain’s FTSE 100 index was down 2.8 per cent at 5,630 points by the early afternoon, having fallen yesterday while other indices rose. The FTSE 250, made up of smaller domestically-focused [...]
US stocks slide after retail sales and factory output plunge April 15, 2020 US stocks have opened sharply lower after retail sales fell by the biggest amount on record and manufacturing output plunged. Wall Street’s S&P 500 index was 2.5 per cent lower shortly after the bell. The Dow Jones was down 2.2 per cent and the Nasdaq was also down 2.2 per cent. The falls came after [...]
Coronavirus: Quiz reopens online store and distribution centre April 15, 2020 Fashion retailer Quiz is the latest brand to resume online trading after shutting its warehouse last month over coronavirus safety concerns. Shares in the company jumped more than 13 per cent as it announced this morning that it has reopened its online store and distribution centre, but can only offer standard delivery. Quiz said it [...]
UK retail footfall dives to lowest level on record after coronavirus lockdown April 15, 2020 UK retail footfall fell to the lowest level on record last month after the government ordered all non-essential stores to close during the coronavirus lockdown. Footfall plunged 41.3 per cent in March compared to the previous year, the latest data showed, driven by a drop of 81.4 per cent in the final week of the [...]
Coronavirus: John Lewis launches virtual services April 14, 2020 John Lewis has launched a platform to provide its in-store services, such as decorating and style advice, online while its stores are closed during the UK coronavirus lockdown. The department store said it will offer virtual nursery, home design and style advice through video calls with customers. John Lewis is currently unable to provide the [...]
Coronavirus: Oasis and Warehouse on the brink of collapse April 14, 2020 High street retailers Oasis and Warehouse are reportedly on the brink of collapsing into administration, putting more than 2,000 jobs at risk. The fashion chains are set to appoint Deloitte as administrator as soon as this afternoon or tomorrow, Sky News reported, making them the latest casualty of the coronavirus crisis. The Oasis and Warehouse [...]
Moss Bros delays full-year results amid coronavirus crisis April 14, 2020 Menswear retailer Moss Bros has delayed the publication of its full year results due to the coronavirus pandemic. The company announced this morning that it will postpone its financial results for the year ending 25 January until late July. It had previously planned to publish its accounts in late May. Financial regulators said last month [...]