Coronavirus: Wetherspoon scraps dividend and warns on profit March 20, 2020 Wetherspoon boss Tim Martin has scrapped the pub chain’s dividend and issued a profit warning after Boris Johnson urged Brits not to visit pubs and restaurants amid the UK coronavirus outbreak. A rapid escalation in UK coronavirus cases has already seen a 4.5 per cent decline in Wetherspoon pub sales in the week to 15 [...]
Coronavirus: Leading hotel chains in talks to provide rooms to NHS March 19, 2020 Some of the world’s largest hotel chains are in talks with the government about providing space for NHS workers as the UK battles the coronavirus outbreak. One group, Best Western Great Britain, is offering 15,000 hotel bedrooms and over 1,000 meeting rooms to help the NHS and local authorities. Intercontinental Hotel Group also said it [...]
The Gym Group puts expansion on hold due to coronavirus March 19, 2020 The Gym Group has paused its rapid expansion plans in order to retain cash as users and new members drop off amid the coronavirus crisis. The budget gym chain said this morning that daily usage has started to decrease over the past two weeks, new joiner members are lower than expected and cancellation numbers are [...]
Coronavirus: Young’s offers rent holiday to tenants March 19, 2020 London pub chain Young’s this morning announced a three month rent holiday for its tenants to help them cope with the impact on trading from coronavirus. Young’s said it is expecting to close all of its sites at some point, although the government has so far only advised the public to avoid pubs. The company’s [...]
Supermarket sweep: Spending data reveals shopper stockpiling and collapse in holiday bookings March 19, 2020 Brits are stocking up on essentials and holding off on booking holidays as the coronavirus pandemic sweeps the country, but they aren’t yet splashing the cash on takeaways, according to data from Starling Bank. The digital bank said customer spending at supermarkets was soaring to levels typically seen at Christmas, with warehouse outlet Costco entering [...]
Ocado sales double as demand soars amid coronavirus panic March 19, 2020 Online supermarket Ocado has reported a jump in sales as demand for home delivery soars amid the coronavirus crisis. Ocado said sales had doubled in the second quarter compared to the previous period as shoppers made bigger and more frequent orders as they stockpiled goods. The grocer was forced to close its website and app [...]
Coronavirus: Joules scraps dividend as sales fall March 19, 2020 High street retailer Joules has cancelled its dividend payment in a bid to save cash as sales plunge due to coronavirus. Joules said the decision to scrap its proposed interim dividend will save the firm £700,000 as it attempts to “manage the near term challenges” caused by the outbreak. The brand has suffered a decline [...]
Next warns of coronavirus blow to online and high street sales March 19, 2020 High street titan Next has warned coronavirus will produce a “very significant” sales blow in the coming year as travel restrictions dramatically damage the retail sector. Next, considered an economic bellwether, said it is now preparing for a “significant downturn” in 2020. “When the pandemic first appeared in China, we assumed that the threat was [...]
Burberry sales down 50 per cent as coronavirus spreads globally March 19, 2020 Luxury British brand Burberry this morning warned that sales have halved as coronavirus has decimated consumer demand. Sales have dropped between 40 per cent to 50 per cent since 24 January, as the outbreak has spread across the world, forcing Burberry to close around 40 per cent of its stores globally. In Europe, the Middle [...]
Coronavirus: National Trust to keep outdoor sites open March 18, 2020 The National Trust is putting in place measures to keep its open places accessible to the public free of charge during the coronavirus crisis. By Friday the charity is planning to have made arrangements to keep its outdoor spaces open, but will shut all houses, shops and cafes to restrict the spread of the virus [...]
