Micam Americas September edition cancelled
The British trade fair organizer Informa Markets has cancelled the fashion trade show Magic, which includes the footwear show Micam Americas, scheduled to run from Sept. 30 to Oct. 2 at the Las Vegas Convention Center due to health, safety and travel concerns related to the Covid-19 pandemic.
How are retailers managing excess stock in Covid-19 times?
Managing stock has always been a tricky part of any business. But it becomes even more so when demand evaporates overnight as occurred with the outbreak of the Covid-19 pandemic and the subsequent lockdowns worldwide, prompting manufacturers and retailers to be nimble and explore various different solutions.
Hotter plans to downsize with creditors’ support
Electra Private Equity, which owns the British footwear manufacturer and retailer Hotter Shoes, plans to downsize the company through a company voluntary arrangement (CVA) process.
Boohoo buys two brands, Oasis and Warehouse
In the wake of its capital increase, that raised £197.7 million (€220.8m-$248.0m) in gross proceeds on May 15, the U.K. online fashion retailer Boohoo has bought two brands, Oasis and Warehouse, for £5.25 million (€5.9m-$6.6m) from Hilco Capital. The two brands will be integrated onto Boohoo’s platform, benefiting from the ...
WGSN sees three major consumer groups emerging from the crisis
The coronavirus pandemic has accelerated societal changes and is forcing industries worldwide to adapt to the resulting changes in consumption. Thus, WGSN has set out to predict what consumers will be looking for in the next couple of years.
Macy’s’ credit rating downgraded to ‘BB’ by Fitch
Macy’s credit rating was cut by Fitch, as, like many other American department stores, the retailer suffered from coronavirus-related lockdowns and has seen its leverage increase.
UK stores look to June 15 reopening with concern
The UK’s non-essential retailers are getting ready for a June 15 reopening date, after retail sales volumes tumbled in the wake of lockdown measures imposed to slow the spread of the Covid-19 outbreak. But, shopkeepers are concerned about the business environment, and more than a third of women and youth ...
Spain permits large stores to open in “Phase 1” regions
Spain’s Ministry of Health has revised its initial guidelines for stores re-openings in Phase 1 regions. By the estimate of the Spanish daily El País, about 70 percent of Spain is currently in Phase 1 of the country’s “de-escalation” of the Covid-19 lockdown. Madrid, Barcelona, certain other populous cities and ...
Visa witnesses “massive” surge in e-commerce use
Confirming other studies showing that the Covid-19 pandemic and subsequent lockdowns have spurred online sales, the financial services company Visa said that it is seeing a “massive acceleration toward e-commerce adoption.”
VF claims it can navigate through the Covid storm easily
In releasing its financial results for the fourth quarter ended on March 31, the management of VF Corp. insisted that the company is in a better position than some of its competitors to navigate through the “storm” caused by the coronavirus pandemic for several reasons, including good liquidity, a flexible ...