Hong Kong’s retail sales fell by a record 44% in February from a year earlier, as travel restrictions kept tourists away and residents avoided shopping centres to prevent the spread of the coronavirus.
The shopping centre owner, whose portfolio of leading retail destinations include Brent Cross, Grand Central and the Bullring, is observing the government’s ban on all non-essential travel within the UK.
Swiss firm Dufry is cutting jobs and guiding for a single-digit decrease in organic sales this year as the coronavirus pandemic that prompted U.S. President Donald Trump to ban air travel from Europe hits its business.
Amazon.com Inc said all employees should defer non-essential travel including within the United States, in a significant escalation by the world’s largest online retailer to guard against the spread of the coronavirus.
Hong Kong retail sales are expected to post their steepest fall on record in January at around 30%, while tourist arrivals in February fell to under 3,000 a day on average, from around 100,000 in January.
For some shopkeepers in Paris, home to prestigious stores where Chinese tourists love to splurge, an abrupt drop-off in visitors as China tries to contain a fast-spreading coronavirus health crisis is hitting hard.