John Lewis of Hungerford reports wider losses, warns of further impact from Covid-19 pandemic

Mon, 30th Mar 2020

Homewares retailer John Lewis of Hungerford reported wider losses and warned the Covid-19 pandemic would continue to hurt performance for the rest of the year. For the six months to 31 December 2019, pre-tax losses widen to £398K from £327K on-year as sales fell to £3,345k fell to £3,666k. The company said it had ceased production for 3 weeks and furloughed many employees amid nationwide containment measures. The company also warned it was not possible to assess the financial implications of Covid-19 on its business and on recovering the loss from the first half year amid the ongoing pandemic. 'This positive start to the New Year has however been severely disrupted due to the COVID-19 outbreak, which led initially to a substantial drop in footfall and now to the temporary closure of our entire showroom estate and factory,' said John Lewis of Hungerford. 'This hiatus in activity across the business will undoubtedly affect our results for the year ending 30 June 2020,' it added. At 10:05am: (LON:JLH) John Lewis of Hungerford PLC share price was -0.05p at 0.4p Story provided by StockMarketWire.com

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