(Reuters) -British trend retailer Joules Group on Thursday reported a 58% plunge in complete retailer gross sales for a seven-week interval that features the vacation season and warned of a success of as much as 18 million kilos if the brand new COVID-19 curbs continued.
Nonetheless, the corporate’s retail gross sales by way of its web sites – together with gross sales by way of the Mates of Joules digital market – had been up 66% 12 months on 12 months, as extra prospects took to on-line purchases in the course of the pandemic.
Shares of the retailer, which shed almost 26% of their worth in 2020, opened decrease on the London Inventory Trade however climbed 2% by 0840 GMT.
This vacation season offered British retailers with a novel problem as they navigated strict virus-related restrictions whereas additionally making ready for Britain’s departure from the European Union.
Making issues worse, the nation went right into a full nationwide lockdown once more earlier this week because it offers with a brand new fast-spreading variant of the virus.
Joules estimated the potential loss in revenues to be 14 million kilos ($19.01 million) to 18 million kilos if the brand new restrictions proceed by way of to April.
($1 = 0.7364 kilos)
Reporting by Indranil Sarkar in Bengaluru; modifying by Uttaresh.V