U.K. Retailers See $31 Billion Cost of Three Covid Lockdowns

Britain’s three pandemic lockdowns have cost retailers that have been ordered to close about 22 billion pounds ($31 billion) in lost sales, according to a trade group. In a sign of the mounting toll Covid-19 is taking on one of the country’s biggest employment sectors, the British Retail Consortium says 2020 was the worst year on record, with in-store non-food sales declining by 24%, compared with 2019. Foot traffic in stores was down more than 40% in 2020 as Covid-wary consumers avoided malls and town centers and turned to online shopping instead, the group said in a statement.