Retailers jump as restrictions are eased

BRITISH retailers were finally back on the front foot yesterday after Prime Minister Boris Johnson set a date for them to reopen.

Non-essential shops will be able to open from June 15, bringing much-needed certainty to the thousands of firms desperately lacking income during lockdown.

But the owners of Sports Direct said the plan to reopen that late was an ‘absolute shambles’ that will drive firms out of business.

JD Sports and Primark owner Associated British Foods (ABF) was a big riser on the FTSE 100 share index, as investors hoped Britons would soon be filling up their baskets again. ABF, whose shares rose 8.6pc, said it would only reopen them when it was ‘convinced that it is safe and right to do so’.

And while JD Sports has run its online shop, many in the City think closures of gyms and sports venues would mean reduced demand for its clothes. Its shares jumped 10.2pc as optimism picked up.

Next gained 5.3pc and M&S was up 6.1pc while shopping centre owner Hammerson gained 17.6pc. Pub group Mitchells and Butlers and cinema chain Cineworld rose 26.1pc and 19.2pc respectively.

Car showrooms and outdoor markets can open from June 1.

But not everyone was happy. The finance chief of Frasers Group, which owns Sports Direct and House of Fraser, lambasted the delay to shop openings saying that ‘every day was essential’.

Speaking to ITV, Chris Wootton said: ‘We really can’t see the difference between a car showroom and a retail store. Off-licences are open but sporting goods retailers are not. No one knows what the hell is going on and it’s a complete shambles. [Ministers] have not got strength of convictions, they don’t even follow their own rules.

‘I think it will definitely put some businesses out of business.’