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Pin to quick picksNext Share News (NXT)

Share Price Information for Next (NXT)

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Share Price: 9,036.00
Bid: 9,038.00
Ask: 9,042.00
Change: -96.00 (-1.05%)
Spread: 4.00 (0.044%)
Open: 9,180.00
High: 9,182.00
Low: 9,016.00
Prev. Close: 9,132.00
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UPDATE 1-Britain's Next bows to staff pressure and ceases online operation

Fri, 27th Mar 2020 07:57

(Adds detail, quotes)

March 26 (Reuters) - British clothing retailer Next
has bowed to pressure from its worried workers and stopped its
online operations during the coronavirus emergency.

Next shut all its stores on Monday, a day before Britain
went on lockdown, but continued to run its online business.

"Next has listened very carefully to its colleagues working
in warehousing and distribution operations to fulfil online
orders. It is clear that many increasingly feel they should be
at home in the current climate," it said.

"Next has therefore taken the difficult decision to
temporarily close its online, warehousing and distribution
operations," it said.

The firm stopped taking online orders on Thursday evening
and will not be taking any more until further notice.

With all of Britain's shops closed, apart from food stores,
pharmacies and corner shops, there has been a growing backlash
against retailers who continue to sell online.

Under measures introduced by the UK government last week
employers can get grants to cover 80% of the wages of people who
are not working and are "furloughed", meaning they are kept on
payroll rather then being laid off.

Next said last week it could sustain a hit from coronavirus
of more than 1 billion pounds ($1.2 billion), or 25% of annual
sales, without exceeding its debt and bank facilities.
($1 = 0.8194 pounds)
(Reporting by Pushkala Aripaka in Bengaluru and James Davey in
London, Editing by Maju Samuel and Kate Holton)

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