AMI has become the latest Paris fashion house to contribute to the fight to contain Covid-19., contributing 10% of all online purchases on Amiparis.com to the funding the World Health Organization’s Covid-19 response.
The very public apology made by Frasers CEO Mike Ashley on Friday underlines the importance of good PR during the coronavirus crisis and an analyst has said that "exemplary ethics will pay off" once the outbreak is over.
Threads giant Coats Group has said it's taking a major hit from the Covid-19 outbreak as this month has seen brands and manufacturers starting to cancel or defer orders due to large-scale store closures.
The company, which is set to borrow $210 million under its senior secured asset-based revolving credit facility, said it will follow the guidance of local governments and health organizations before reopening stores.
Lululemon Athletica Inc. was one retailer with good news on Thursday, as it reported fourth-quarter results that topped expectations, which lead to a 21 percent net revenue increase for full-year fiscal 2019.
The company is working to support its staff, contribute to pandemic relief efforts, and boost its financial flexibility by drawing down from its revolving credit facility, suspending its quarterly cash dividend and more.
Gap Inc on Thursday withdrew its full-year forecast issued two weeks ago, suspended its dividend and said it will draw down on its $500 million credit facility as the retailer looks to weather the coronavirus crisis.