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Pic: Fraser Group Frasers Group recently said it could take a hit in excess of £100 million due to the COVID-19-induced lockdown on non-essential retailers in the United Kingdom lasting until April 12. The Mike Ashley-owned firm said the lockdown is likely to hit its accounts, with impairments to freehold properties, other property, plant and equipment and right of use assets. Prime Minister Boris Johnson announced his road map to reopening the economy recently, including plans that stores could welcome back customers by the spring. In a statement to the stock exchange, Frasers Group said it “currently anticipates making material accounting impairments to freehold properties, other property, plant and equipment, and IFRS 16 ‘Right of Use Assets’.”
A new trade body, the UK Digital Business Association, has been launched by retailers, including ASOS, Boohoo, Gymshark and The Hut Group to champion the digital commerce.
The lockdown has boosted UK athleisure sales, while a lack of social occasions has seen formal wear order volumes plummet compared to last year, according to data from True.
UK residents are optimistic about life post lockdown, according to recent consumer survey research by consumer and location intelligence specialist CACI, which found the United.
The Carrefour Group, a French multinational corporation specialised in retail, has posted 7.8 per cent sales growth like-for-like basis (LFL) to €78,609 million in the full.