Shares in Associated British Foods, the owner of fast fashion chain Primark, have been boosted by plans to re-open all 153 of its stores in England on June 15.
The reopening in England is faster than many had expected, and comes as the company has been encouraged by European stores that have already resumed trading.
With governments now easing restrictions, Primark is trading from 112 stores across Europe and the United States, or 34% of its total selling space. By June 15, it plans to have 281 stores open, or 79% of selling space, including all stores in England.
It hopes to have all of its 378 shops open by late June, including those in Scotland, Wales and Northern Ireland. However, the company added that it is awaiting further guidance from authorities in those countries.
“Trading in our re-opened stores (including in Germany and Spain) has been both reassuring and encouraging, with customer queues outside most stores,” AB Foods said.
Though demand is high, the company cautioned that social distancing measures are having an impact on spending volumes. Since re-opening, cumulative sales from those stores that are trading have been down on a like-for-like basis compared to the same time last year.
De La Rue says there’s still demand for banknotes
Troubled banknote maker De La Rue has said demand for its currencies remains strong, even as people switch to card payments to slow the spread of coronavirus.
The company, which prints notes for the Bank of England, said it had contracts in place that would keep its currency factories working at high capacity for the rest of the year.
"In currency, De La Rue is experiencing strong demand that has continued during the Covid-19 pandemic and has been awarded contracts representing approximately 80% of its available full-year currency printing capacity," managers said.
People around the world are opting to pay by card, especially through contactless methods when possible, to avoid handing over, and receiving, potentially contaminated cash.
Last week, PayPoint revealed that the card payments it processes had shot up by three quarters, while transactions at its cash machines fell by 40% compared with this time last year.
Caravan holiday to ‘almost match’ hotel breaks
Interest in online adverts for caravans increased by nearly a fifth last week as more people plan staycations once coronavirus restrictions ease, figures indicate.
Auto Trader said the number of people viewing caravans on its website was 18% higher than the same period in 2019.
It expects demand for caravan holidays to "almost match" hotel breaks this summer.
The firm commissioned a survey of 2,000 UK adults which indicated that 40% are planning a domestic holiday. A third (33%) of this group are considering a trip in a caravan.
Some 37% said staying in a caravan would mean they could sanitise the environment themselves, and 34% believe it would allow them to better manage social distancing.
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