A fresh lockdown could cost Next 60 million pounds in lost sales

With the retail holiday season in full swing, a fresh lockdown could cost high street chain next 60 million pounds in lost sales.

The company said its in-store sales in the last three months were around half of levels seen since last year, with fears already mounting about the potential impact of Wales’ two-week shutdown imposed last week, reported the Daily Mail.

In a trading statement Next said: ‘We have found no evidence of the virus being transmitted in our stores, nor are we aware of any studies that suggest clothing and homeware retail presents a significant risk of infection.’

“The biggest single unknown is whether England, Scotland and Northern Ireland will follow Wales’s decision to shut non-essential retail shops.”

“A two-week lockdown in England, Scotland and Northern Ireland in November would reduce retail full-price sales by around 57 million pounds depending on timing.’

Next said sales during the holiday period could fall by 8 per cent based on their ‘central scenario’, which includes further lockdowns, customers avoiding busy stores and increased self-isolation.”