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Pin to quick picksMarks & Spencer Share News (MKS)

Share Price Information for Marks & Spencer (MKS)

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Share Price: 276.70
Bid: 277.50
Ask: 277.70
Change: -1.70 (-0.61%)
Spread: 0.20 (0.072%)
Open: 278.00
High: 279.00
Low: 275.10
Prev. Close: 278.40
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UPDATE 1-Primark pulls the crowds as stores reopen in England after lockdown

Mon, 15th Jun 2020 10:01

(Adds details, comment)

By James Davey

LONDON, June 15 (Reuters) - Long queues of shoppers snaked
outside some stores in England from early in the morning on
Monday, with discount fashion retailer Primark proving a big
draw as non-essential shops reopened their doors after 83 days
of lockdown.

Queues formed outside several branches of Primark, which
does not sell online so has not taken a penny in the country for
weeks. In Birmingham, home to the world's biggest Primark, the
store opened early as hundreds of people lined up outside.

Department stores, clothing retailers, electrical outlets
and bookshops have been closed since March 23 when Prime
Minister Boris Johnson imposed a lockdown to limit the spread of
the coronavirus.

While outdoor markets and car showrooms reopened on June 1,
Monday is the big return to business for retailers, who are
desperate to get the tills ringing again.

The reopening only applies to England, with stores in
Scotland and Wales waiting for guidance from their devolved
administrations on when they can resume trading. Non-essential
stores in Northern Ireland reopened on Friday.

Getting shoppers spending again is key to Britain's recovery
after official data on Friday showed the economy shrank by a
quarter over March and April. The British Retail Consortium
reckons the lockdown has cost non-food stores 1.8 billion pounds
($2.3 billion) a week in lost revenues.

"We need to start working to get the economy back opening
again because that's the best way of restoring livelihoods,"
business minister Paul Scully told BBC radio.

STORES LOOK DIFFERENT

Stores look very different, though, as they have to observe
social distancing regulations. Shoppers face queues outside,
restricted numbers inside and limitations on trying products.

Fitting rooms will be closed, according to government
guidance, while goods that are tried-on or returned by customers
need to be stored for 48 hours, or cleaned, before being
re-displayed on the shop floor.

Some chains are reopening all their English stores, while
others are taking a phased approach.

Primark, owned by Associated British Foods, is
opening all its 153 stores in England. Marks & Spencer,
which has traded online and kept its food halls open, will
reopen the majority of its clothing and homeware selling space.

But rivals Next and John Lewis are
opening just 24 and two respectively. See FACTBOX on reopening:

Industry executives remain cautious.

"Without doubt this is going to be one of the most difficult
years for retailers ever," Anne Pitcher, managing director of
department store chain Selfridges, told BBC radio.

($1 = 0.7973 pounds)
(Reporting by James Davey; Editing by Mark Potter and Pravin
Char)

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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