Brown Thomas, Arnotts, Zara take hits as virus forces closures

High street clothing stores Brown Thomas, Arnotts, and Zara are the latest retailers to be hit by the spread of Covid-19.

Brown Thomas-Arnotts has moved to close all of its physical shops in Dublin, Cork, Limerick, and Galway until further notice.

Shares in Zara-owner Inditex fell after the Spanish company said it may redirect cash originally set for its 2019 shareholder dividend into its emergency reserves. The company said store and online sales fell by over 24% in the first two weeks of March, after it temporarily shut 4,000 shops in 39 countries.

UK pub chain Mitchells and Butlers — in which Irish financiers JP McManus and John Magnier are significant shareholders — said recent trading has been “severely impacted” by the virus and it can’t provide detailed financial forecasts for the year.

The company — which owns the Irish-themed O’Neill’s chain of UK bars — said it has enough cash to see it through the first half of its financial year to mid April.

UK bank Barclays said it is “very very unlikely” to meet its profit goals.