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Vera Bradley implements furloughs and compensation cuts in face of Covid-19

Vera Bradley implements furloughs and compensation cuts in face of Covid-19

Following the extension of the temporary closure of the American company’s retail stores, Vera Bradley has announced a series of measures designed to preserve its financial liquidity, including furloughs and salary cuts.
Fashion
Supima design alumni sew and send masks and gowns to medical workers

Supima design alumni sew and send masks and gowns to medical workers

Supima, often dubbed the "cashmere of cotton", has supplied dozens of alumni of its Supima Design Competition with fabric to create masks and gowns for medical workers and organizations in the Covid-19 frontlines.
Fashion
Shoe Zone furloughs thousands of employees, cancels final dividend

Shoe Zone furloughs thousands of employees, cancels final dividend

Budget footwear retailer Shoe Zone saw its shares fall as much as 53% on Friday morning after announcing plans to cancel dividend payments.
Fashion
Pitti Uomo postpones June 2020 edition to September

Pitti Uomo postpones June 2020 edition to September

After the serial cancellations of the June men's Fashion Weeks, the benchmark menswear show has announced the postponement of its next summer edition, which is now scheduled to be held in Florence on September 2-4.
Fashion
Primark boss takes 50% pay cut as pandemic lockdown continues

Primark boss takes 50% pay cut as pandemic lockdown continues

Primark became the latest retailer on Friday for its leaders to show solidarity with its workforce as parent company Associated British Foods announced a pay cut for bosses.
Fashion
Fashion is biggest loser as UK retail sales plunge

Fashion is biggest loser as UK retail sales plunge

There were no surprises from the latest BDO monthly High Street Sales Tracker on Friday as the figures showed the worst month on record for retail sales in March and especially for fashion
Fashion
Bagir to run out of cash, is now assessing options

Bagir to run out of cash, is now assessing options

Troubled tailoring specialist Bagir Group is assessing its options as it said the coronavirus crisis means it has "insufficient cash resources available" and undermined its ability to continue as a going concern.
Fashion
Galeria Karstadt Kaufhof files for creditor protection

Galeria Karstadt Kaufhof files for creditor protection

German department store Galeria Karstadt Kaufhof and its subsidiary Karstadt Sports have filed for creditor protection after seeing a drop in sales as a result of the coronavirus crisis.
Fashion
Chanel to host live Angèle performance on Instagram

Chanel to host live Angèle performance on Instagram

The latest brand to reach out to its social media community during the global pandemic is Chanel, which will stage a live performance by Belgian singer Angèle this Friday.
Fashion
Joules raises £15m in share placing to get it through the Covid-19 crisis

Joules raises £15m in share placing to get it through the Covid-19 crisis

Joules has announced the successful completion of a share placing with nearly 19 million new ordinary shares having been placed. It raised £15 million in gross proceeds. 
Fashion
H&M powers ahead in Q1, but Covid-19 sends Q2 into reverse

H&M powers ahead in Q1, but Covid-19 sends Q2 into reverse

Q1 was a good time for H&M and its profits leapt ahead. But Q2 will be loss-making with sales dropping 46% during March as shops in its key markets shut their doors. 
Fashion
Amazon to deploy masks and temperature checks for workers by next week

Amazon to deploy masks and temperature checks for workers by next week

​Amazon.com Inc plans to roll out temperature checks and face masks for staff at all its U.S. and European warehouses by early next week, a huge deployment for workers on the front lines of the coronavirus outbreak.
Fashion
Neiman Marcus advances bankruptcy preparations

Neiman Marcus advances bankruptcy preparations

Neiman Marcus Group is stepping up preparations to seek bankruptcy protection, after the coronavirus pandemic forced the debt-laden U.S. luxury department store chain to close its stores, sources said on Thursday.
Fashion
AEO, Caleres and Lululemon implement cost-cutting initiatives to stay afloat during Covid-19 pandemic

AEO, Caleres and Lululemon implement cost-cutting initiatives to stay afloat during Covid-19 pandemic

As it becomes clear that store closures will continue for longer than anticipated, companies including AEO, Caleres, Lululemon and Ulta Beauty have announced further measures to preserve their financial liquidity.
Fashion
Arcadia furloughs 14,500 staff, more firms will join it says analyst

Arcadia furloughs 14,500 staff, more firms will join it says analyst

The owner of the Topshop and Dorothy Perkins chains has furloughed the majority of its staff as, like the rest of the retail sector, it continues its fight for survival in the face of the coronavirus crisis.
Fashion
Diesel, Maison Margiela and Marni to donate 10% of online revenues to Covid-19 fight

Diesel, Maison Margiela and Marni to donate 10% of online revenues to Covid-19 fight

OTB, which controls Diesel, Maison Margiela and Marni, has announced that all three brands will donate 10% of their online revenues during the month of April to the struggle against Covid-19.
Fashion