Harrods plunged £68m into the red last year after pandemic lockdowns halved its revenues, according to recently published accounts, and the luxury department store is now facing a strike by dozens of restaurant workers.
Read the full article on The Guardian website
NAM Implications:
- Putting strike into perspective:
- A reduction of 145 in staff numbers represents 3.5% of the workforce…
- Meanwhile, owners Qatar’s sovereign wealth fund are unlikely to carry a £68m loss for long…
- …on their £1.5bn investment.
- In other words, anticipate an upwards on-shelf price adjustment…
