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Good PR during crisis is key to post-coronavirus consumer approval says analyst

Good PR during crisis is key to post-coronavirus consumer approval says analyst

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.
Fashion
Coats Group sees sales drop due to pandemic, 15 out of 50 plants are closed

Coats Group sees sales drop due to pandemic, 15 out of 50 plants are closed

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.
Fashion
Frasers Group's Ashley issues apology, says firm ready to support NHS where it can

Frasers Group's Ashley issues apology, says firm ready to support NHS where it can

Mike Ashley issued a rare apology for his actions in recent days on Friday and said Frasers Group has offered its support to the NHS and is "poised and ready, with our entire fleet of lorries at their disposal".
Fashion
Intu in crisis talks to avoid collapse, could sell some UK malls

Intu in crisis talks to avoid collapse, could sell some UK malls

Lakeside owner Intu is seeking emergency support from its lenders and the UK government after news that less than a third of quarterly rents it’s owed have been paid.
Fashion
British Fashion Council launches Covid-19 fund to support designers

British Fashion Council launches Covid-19 fund to support designers

The British Fashion Council (BFC) said on Friday that it's launching a new crisis fund to support creative businesses and individuals during the Covid-19 outbreak. 
Fashion
Tailored Brands extends store closures, furloughs all U.S. employees amid Covid-19 outbreak

Tailored Brands extends store closures, furloughs all U.S. employees amid Covid-19 outbreak

The company is extending the temporary closure of its retail stores and furloughing all U.S. store employees, as well as a significant portion of employees in its distribution network and offices.
Fashion
Abercrombie & Fitch extends closure of non-APAC stores, borrows from credit

Abercrombie & Fitch extends closure of non-APAC stores, borrows from credit

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. 
Fashion
Shandong Ruyi votes out top execs at Japan's Renown

Shandong Ruyi votes out top execs at Japan's Renown

Japanese apparel maker Renown Inc said the company’s top executives were voted out of its board on Thursday by China’s Shandong Ruyi, its parent company.
Fashion
Lululemon ends year with 20% revenue jump, skips 2020 outlook

Lululemon ends year with 20% revenue jump, skips 2020 outlook

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.
Fashion
Gap scraps 2020 forecast, draws down $500 million credit on coronavirus crunch

Gap scraps 2020 forecast, draws down $500 million credit on coronavirus crunch

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.
Fashion
Retailer Next stops taking online orders after closing stores

Retailer Next stops taking online orders after closing stores

Clothing and homewares retailer Next has stopped taking online orders from 1800 GMT on Thursday until further notice after its warehouse and distribution workforce expressed concerns over the coronavirus outbreak.
Fashion
Italy’s Confindustria Moda asks retail landlords to accept suspension of rent payments

Italy’s Confindustria Moda asks retail landlords to accept suspension of rent payments

The Italian fashion industry association's president asked landlords to accept a rent payment suspension until stores will reopen, urging them to renegotiate lease terms until income flows will become regular again.
Fashion
Swiss group Calida to pay no dividend for 2019, names new president

Swiss group Calida to pay no dividend for 2019, names new president

The Swiss group, owner of Lafuma and Aubade, will not pay any dividend for the 2019 financial year due to Covid-19 disruption. It has also named Hans-Kristian Hoejsgaard as president.
Fashion
Italy's Armani converts fashion sites to produce medical overalls

Italy's Armani converts fashion sites to produce medical overalls

Fashion group Armani said on Thursday all of its Italian production plants would start producing single use medical overalls, in an effort to support healthcare workers in the coronavirus crisis.
Fashion
UK retail sales show zero growth in February, before virus hit

UK retail sales show zero growth in February, before virus hit

British retail sales failed to grow at all last month, their weakest performance since 2013, official figures showed on Thursday, even before coronavirus-imposed shutdowns.
Fashion
Another raft of Jack Wills stores axed

Another raft of Jack Wills stores axed

The gradual shrinking of the Jack Wills chain is continuing with news on Thursday that another 17 of the shops are being permanently closed.
Fashion