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 [...]
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, [...]
UK coronavirus lockdown: Michael Gove warns of tougher punishments March 24, 2020 Michael Gove has criticised Mike Ashley for failing to close Sports Direct stores on the first day of the UK coronavirus lockdown, and warned of tougher punishments for flouting the public order to stay at home. The minister blasted Ashley’s argument that keeping Sports Direct stores open was crucial to help UK households “maintain a [...]
Mulberry warns it will swing to a loss as coronavirus hits handbags March 24, 2020 Luxury fashion brand Mulberry has become the latest brand to warn on the impact of the coronavirus on trading, as it anticipates losses in the second half of the year. The brand said it would suspend payouts to shareholders as recent trading in its stores, particularly in the UK, had been severely impacted by the [...]
UK coronavirus lockdown: Sports Direct asks if staff count as key workers March 24, 2020 Mike Ashley’s Sports Direct and Evans Cycles stores will now remain closed unless the government gives them permission to stay open during the UK coronavirus lockdown. Bosses earlier claimed the stores are vital to the health of the nation, giving staff so-called key worker status. Under new measures announced by Prime Minister Boris Johnson last [...]
