THE VIRUS IN BRIEF
MARKS & Spencer saw profits tumble for the past year after taking a £52million hit from the virus.
The retailer revealed profits dived by 21 per cent to £403.1 million after it was dragged down by its troubled clothing business – while food sales are predicted to fall by 20 per cent.
It came as the firm told investors it “hibernated” £200million of unsold stock in warehouses for spring 2021.
M&S said it expects a 70 per cent drop in clothing and home revenues and a 20 per cent fall in food sales over the four months to July.
And it predicted annual revenues for this year will fall by £1.5billion.
Chief executive Steve Rowe said: “Whilst some customer habits will return to normal, others have changed forever, the trend towards digital has been accelerated, and changes to the shape of the high street brought forward.”
RURAL tourism could lose up to £17billion this year, say experts. Tourism businesses from the Cotswolds to Cornwall expected a £1.2billion loss in April alone – and this is expected to worsen.
Charles Trotman, from the Country Land and Business Association, said: “Rural tourism accounts for 70 to 80 per cent of the domestic market. We calculated businesses will lose £15 to £17billion.”
He said it was crucial the Government introduced an October bank holiday to extend the season.
The CLA said not everybody could reopen on July 4 but caravan sites and self-catering were candidates.
Alistair Handyside, chairman of the South West Tourism Alliance, said families were cancelling summer breaks because of the “fear factor”.
“A large number of people don’t want to bring elderly relatives or people they feel are vulnerable, or they are just plain scared,” he said.
APPRENTICES are missing out on vital work experience and skills during the coronavirus crisis, with one in 13 made redundant a survey has claimed.
A quarter of 156 employers offering the schemes told YouGov that their apprentices’ learning provider had closed.
Many companies had also furloughed or cut their trainees’ pay during the crisis, the research found.
Sir Peter Lampl, founder of education charity the Sutton Trust, said: “The priority for current apprentices should be to continue their training where possible and the Government must do more to support training providers.
“Apprenticeships have a crucial role to deliver on their social mobility agenda, which will be important as we come out of the pandemic.”