Announcing its second quarter results, Hugo Boss Ag said with approximately 50 percent of its global store network closed on average during the course of the second quarter, the company’s business was significantly impacted by the pandemic. The group sales declined to 275 million euros in the quarter, […]

The Case Scarpe & Scarpe is a Turin-based retailer with over 50 years of heritage in the footwear, leather goods and clothing sectors. Founded by the Pettenuzzo family, the company has witnessed great changes in the industry and led the evolution of the Italian retail distribution system since the 1960s. […]

Retail group John Lewis and Partners has announced that, following a successful trial, it is rolling out its new progressive supplier engagement programme called ‘Better Jobs’ to all of its 120 UK manufacturing suppliers. The purpose of the Better Jobs initiative, which is free to suppliers and replaces […]

US luxury department store chain Lord & Taylor has filed for bankruptcy, becoming the latest retail casualty of the Covid-19 pandemic. The company filed for Chapter 11 protection on Sunday, according to documents from the US Bankruptcy Court for the Eastern District of Virginia, along with its owner, […]

British property giant Hammerson has confirmed that it is in advanced talks of a possible disposal of its 50 percent stake in VIA Outlets to its joint venture partner APG. The company, which owns Bullring shopping centre in Birmingham and Brent Cross centre in London, said it is also mulling a potential […]

Victoria’s Secret owner L Brands has announced it will be cutting around 15 percent of its head office workforce in a bid to cut costs amid the Covid-19 pandemic. The move is part of a wider strategy by L Brands which aims to deliver approximately 400 million dollars in annual cost reductions. Approximately […]

In the second quarter of 2020, Safilo S.p.A. posted total net sales of 114.5 million euros, down 54 percent at current exchange rates and 53.7 percent at constant exchange rates with wholesale business down 55.2 percent. In the first half, group’s net sales equalled 335.6 million euros, down 32.3 percent […]

Tailored Brands, Inc., parent company of Men’s Wearhouse and Jos. A. Bank, has entered into a restructuring support agreement (RSA) with more than 75 percent of its senior lenders. The company said in a statement that to implement the terms of the RSA, the company has filed voluntary Chapter 11 petitions […]

Nike is still reeling from the economic fallout from coronavirus. Their latest casualty as a result of this is their Portland headquarters where 500 jobs will be axed. In a state filing, Nike reported that they will be shedding 500 jobs with layoffs going into effect on October 1. The news was reported […]

Neiman Marcus Group Ltd.’s creditors say the retailer inflated its own value by billions of dollars when it made the corporate transfer of its e-commerce site MyTheresa in 2018. An inflated value of the business would undermine its debt, making any transfer of assets an improper transaction under U.S. […]

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