The newly implemented Tier 4 restrictions across the UK, which see non-essential retailers close their doors once more is expected to cause a loss of as much as £220M in sales for Primark.
Following the announcement from the UK Government that has seen major cities including Manchester, Birmingham and London, non-essential retailers have once more been asked to close their doors to fight against the Coronavirus and it’s new variant.
AB Foods, the fast fashion retailer’s owner has said that it expects to lose around £650M in sales in the year up to September, which is an increase from the £430M previously announced in December. The prediction comes as the retailer closes 253 of its stores and as the retailer doesn’t currently operate an online channel, it expects to receive a much heavier hit than that of its competitors.
As of today, London, the South-East of England, the North-East of England, Greater Manchester, the Midlands and the South-West along with mainland Scotland, Wales and Northern Ireland are all under the tightest lockdown restrictions.
