Next restarts online sales after Covid-19 clampdown to save staff

The British fashion retailer has reopened its online sales after applying additional safety measures to limit the spread of the Covid-19 outbreak.

Next shares are trading higher on Tuesday after reopening its online sales following additional safety measures aimed at limiting the spread of the coronavirus.

The British clothing and homeware retailer said it would restart the sale of ‘categories that our customer most need’ like children’s clothes and homeware items in a statement on Tuesday. The company hopes to make other product ranges available later this year.

Next shares are trading at 2% higher at £47.23 as of 13:05 (GMT) on Tuesday.

Next protects staff from Covid-19

Next announced the temporary closure of its online business along with its warehousing and distribution operations back on 26 March in a bid to stop the spread of Covid-19.

‘Operations will start with support from colleagues who are willing and able to safely return to work,’ Next said in a statement on Tuesday.

‘The idea is to begin selling in low volumes, so that we only need a small number of colleagues in each warehouse at any one time, helping to ensure rigorous social distancing is complied with,’ the company said.

To achieve these limited volumes, Next will only allow customers to order the number of items that it believes can be picked safely on any given day. At that point we will then stop taking orders and convert the website to 'browse only' until the following morning.

Next shuts website hours after reopening

The British retailer was forced to shut its online sales just hours into its website reopening on Tuesday after hitting its daily order limit by 08:30 (GMT).

‘In order to operate our warehouse safely, we are limiting the number of warehouse colleagues working at any time, and so we will limit the number of customer orders we can take each day,’ A statement on the website.

‘We have successfully tested opening and taking a limited number of orders today. Please come back again tomorrow morning.’

How to trade retail stocks with IG

Looking to trade Next and other retail stocks? Open a live or demo account with IG and buy (long) or sell (short) the asset using derivatives like CFDs in a few easy steps:

  • Create an IG Trading Account or log in to your existing account
  • Enter ‘NEXT’ in the search bar and select it
  • Choose your position size
  • Click on ‘buy’ or ‘sell’ in the deal ticket
  • Confirm the trade

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

Please see important Research Disclaimer.

React to global volatility

Market volatility continues as coronavirus concerns amplify. Trade with IG and take advantage of:

  • Tight spreads – from just 1 point on major indices, and 2.8 on US crude
  • Guaranteed stops – they’re free to use, and only incur a fee when triggered
  • Round-the-clock assistance – our highly skilled team are available when you need support

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.