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 [...]
Superdry to miss 2020 targets as it braces for another difficult year March 18, 2020 Superdry does not expect its online sales to offset losses, as it predicts it will miss its 2020 targets due to the “unprecedented challenges” of the coronavirus outbreak. The retailer said the majority of Superdry’s European store estate has been affected by mandated closures, which contributes around 40 per cent of weekly sales forecasts. Currently, [...]
Sainsbury’s ramps up rationing on more items as demand rises March 18, 2020 Sainsbury’s will today ramp up the rationing of a growing number of its products in response to heightened demand from customers stockpiling items in the light of new coronavirus restrictions. As of this morning, customers will be able to buy a maximum of three of any grocery product and a maximum of two on the [...]
Coronavirus: Business rates holiday granted for all retail and leisure firms March 17, 2020 Pub, restaurants and shops will be hoping that emergency measures unveiled by the chancellor this evening, including a business rates holiday for all firms, will be enough to keep the sector afloat through the coronavirus crisis. Rishi Sunak has announced that all retail and hospitality firms will be exempt from paying business rates for 12 [...]
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 [...]
Guinness owner Diageo launches fund to prop up pub staff wages March 17, 2020 Guinness owner Diageo has launched a £1m fund to support bar staff wages as pubs across the UK teeter on the brink of collapse due to coronavirus. The community fund will help some pubs and bars to pay a proportion of staff wages if they are forced to close as customers are urged to stay [...]
Government must ease restrictions for food production workers, says industry March 17, 2020 The chairman of leading UK food producer Finnebrogue Artisan has called on the government to relax self-isolation restrictions for workers in the food industry or risk “serious food shortages”. According to Denis Lynn, forcing any one who lives with someone showing symptoms of coronavirus to self-isolate for 14 days could “wreak havoc on our capacity [...]
Major UK retailers urge chancellor for immediate business rates suspension March 17, 2020 Major British retailers have called on the chancellor to go further with measures to protect the retail, hospitality and leisure sectors from the dramatic economic impact of coronavirus. Primark, Arcadia and New Look are among the firms to sign a letter this afternoon urging Rishi Sunak to immediately suspend business rates bills until normal trading [...]
Carphone Warehouse to axe 3,000 jobs as it shuts all standalone stores March 17, 2020 Carphone Warehouse today said it will axe 2,900 jobs under plans to close all 531 of its standalone stores. Parent company Dixons Carphone said the radical move was caused by changes in the mobile market, rather than the coronavirus outbreak. The firm said 40 per cent of impacted colleagues were expected to take new roles [...]
Coronavirus: Major cinema chains close all sites March 17, 2020 The UK’s major cinema chains have announced they will close immediately after the government yesterday ramped up the fight back against coronavirus. Odeon, Vue, Picturehouse and Cineworld have all announced the closure of all their sites across the UK, while London’s BFI Southbank has also temporarily shut after the public were told to avoid public [...]
