Online Sales Resume as Stores Reopen in Select Regions
- Games Workshop plans to restart online sales in Europe and North America
- Stores reopened in China, Netherlands, and Scandinavia
- Profit before tax estimated at no less than £70m for the year ended 31 May 2020
- Agreed on a £25m overdraft facility with Santander
Games Workshop has announced plans to resume online orders and trade sales in Europe and North America amid the ongoing Covid-19 lockdown. While most of its stores remain closed, some have reopened in China, the Netherlands, and Scandinavia under local guidelines and social distancing measures. The company will continue to open more stores as restrictions ease globally, adhering to health and safety protocols. The retailer initially shut down operations worldwide on March 24, 2020 due to pandemic-related restrictions in the UK and other countries. Since then, its performance has been affected, but trading remained in line with expectations until February. Games Workshop now anticipates a profit before tax of at least £70m by May 31, 2020. The company has also secured a £25m overdraft facility from Santander for six months, with an optional extension.
Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about Games Workshop’s plans to restart online orders and trade sales in Europe and North America, the reopening of some stores in specific regions, and the impact of Covid-19 on its operations. It also mentions the agreement with Santander for a £25m overdraft facility. The information is relevant, well-researched, and free from sensationalism or personal opinions.
Noise Level: 3
Noise Justification: The article provides relevant information about Games Workshop’s plans to restart online orders and trade sales in certain regions while maintaining social distancing measures, as well as the impact of Covid-19 on its operations and financial situation. However, it lacks a detailed analysis or exploration of long-term trends or consequences, and does not offer significant actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Games Workshop’s stock and related retail industry
Financial Rating Justification: The article discusses the impact of Covid-19 on Games Workshop’s operations, its financial performance, and its agreement with Santander for a £25m overdraft facility. This information is relevant to the company’s financial situation and can potentially affect related financial markets and industries.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the text.
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