The British Retail Consortium, which represents retailers across the country told Forbes.com that it expects the latest forced closures to wipe out around £2 billion ($2.6 billion) in sales each week until stores reopen on December 2—though that is not guaranteed. The latest modeling from research consultancy, Retail Economics, puts total lost sales for non-essential retailers at $9 billion over the four-week period in England. The upside of the November shutdown is that online sales will be boosted by an estimated $3.9 billion on last year. Helen Dickinson, CEO of the British Retail Consortium, said: “Retail faces a nightmare before Christmas. Clothing sales are not recovering well.

Source: Forbes November 05, 2020 22:39 UTC