The company said it lost £740million in the three months to May, compared with a profit of £203million in the same period last year. It comes as latest Visa figures show 89% of Brits have turned to online shopping since the start of the lockdown on March 23. Retailers of non-essential goods, especially clothing, have been hit hard by restrictions aimed to help slow the spread of Covid-19. Many of these chains who were given so-called rent holidays due to the pandemic are set to start paying up again as stores reopen in mid-June. Gap chief financial officer Katrina O'Connell said "We're just knee-deep in landlords today."

Source: Daily Mirror June 05, 2020 16:07 UTC