Britain's Tesco says coronavirus costs could reach $1.1 billion

  • 📰 Reuters
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 97%

United States Headlines News

United States Latest News,United States Headlines

Tesco defends dividend payout as warns coronavirus costs could top $1 billion

FILE PHOTO: A woman walks past a Tesco extra superstore near Manchester, Britain January 8, 2020. REUTERS/Phil Noble/File Photo

However, the supermarket group said on Wednesday that if customer behaviour returned to normal by August, it was likely the extra expenses - mainly related to staff and operations costs - would be offset by higher sales and relief from a business tax introduced by the government to help companies. Britain’s supermarkets have seen a surge in demand as shoppers have stocked up on essential goods such as toilet roll and pasta during a lockdown to contain the spread of the virus.

However, the crisis has come with higher costs, such as social distancing measures that restrict the number of shoppers in store at any one time, expanding online delivery operations, staff bonuses and hiring more employees.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UK stock rally fizzles as deaths rise; Tesco warns of surging costsBritain's equity markets lost steam on Wednesday, as rising deaths globally doused hopes that the coronavirus crisis was abating, while Tesco warned of more costs due to the pandemic. FoodSupplies at risk ? Stocks fizzle as central banks can't print enough money to keep the gains going. How's their herd immunity PM?
Source: Reuters - 🏆 2. / 97 Read more »

UK stock rally fizzles as deaths rise; Tesco warns of surging costsBritain's equity markets lost steam on Wednesday, as rising deaths globally doused hopes that the coronavirus crisis was abating, while Tesco warned of more costs due to the pandemic. FoodSupplies at risk ? Stocks fizzle as central banks can't print enough money to keep the gains going. How's their herd immunity PM?
Source: Reuters - 🏆 2. / 97 Read more »

Britain's Bold Bet To Protect Jobs From Coronavirus Could Cost $50 BillionI joined Forbes as the European News Editor and will be working with the London newsroom to define our coverage of emerging businesses and leaders across the UK and Europe. Prior to joining Forbes, I worked for the news agency Storyful as its Asia Editor working from its Hong Kong bureau, and as a Senior Editor in London, where I reported on breaking news stories from around the world, with a special focus on how misinformation and disinformation spreads on social media platforms. I started my career in London as a financial journalist with Citywire and my work has appeared in the BBC, Sunday Times, and many more UK publications. Email me story ideas, or tips, to iain.martinforbes.com, or Twitter _iainmartin. talk about a hole in the budget. He has his work cut out, feeding 64m when the food riots swing into action. 'I think we could probably do a curry tonight?' Just print money. No problem. Governments don’t pay costs folks
Source: Forbes - 🏆 394. / 53 Read more »

Coronavirus live updates: New York death toll has largest single-day jumpDoctors and nurses at Maimonides Medical Center in Brooklyn are preparing for the peak of COVID-19 patients they expect in the coming weeks. ABC News was given guided access to their ER to see first hand how they are coping. Motoo_Patloo Why_Need_TrueWorship True worship holds cure for cancer without any medical treatment, cancer can be cured by taking initiation nam diksha from Supreme Siant Rampal Ji Maharaj. - Must Watch Sadhana TV 07:30PM (IST). coronavirus America China Spain Watch. realDonaldTrump Our brave army. Thank you!! 👏 StaySafe tbh I don't see the patients as I saw on the news in Wuhan. This is a typical scene I had seen in a busy hospital.
Source: ABC - 🏆 471. / 51 Read more »

Coronavirus live updates: New York death toll has largest single-day jump; musician John Prine diesFlags flies at half-staff in Weehawken, New Jersey, while the sun rises behind the Manhattan skyline, as the region suffers through the coronavirus pandemic. 😢😢 😢 😢😢
Source: ABC - 🏆 471. / 51 Read more »

New York coronavirus death toll has largest single-day jump; musician John Prine diesSAY SOMETHING POSITIVE: New York hospital employee starts 'Be Positive' campaign, encouraging coworkers to write inspiring messages of hope for COVID-19 patients and overworked staff. bepositive In November the Country will be SAFE again! The most Positive thing in the world! VoteBlue to save America! VoteBlue to save the World! But don't forget: TrumpOwnsEVERYDeath
Source: ABC - 🏆 471. / 51 Read more »