The firm said around 150 office jobs are expected to go in the UK, where it is headquartered, and a further 350 overseas as it looks to slash annual costs by a further £55 million. The group revealed comparable retail sales plunged 45% in the three months to June 27 due to coronavirus lockdown closing stores and amid travel restrictions worldwide. (Image: REUTERS)It started the quarter with around 60% of stores closed, which reduced to 50% in June. The group also warned it expects its second quarter to the end of September to be "materially impacted" by the pandemic, with sales forecast to drop by up to 20%. "In retail, tourist flows are likely to remain negligible, and store operations are continuing to face significant headwinds, with some remaining closed and operating with reduced trading hours," it said.

Source: Daily Mirror July 15, 2020 07:53 UTC