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coronavirus news and archive

Business

Carter's Q3 sales drop but earnings up 4.8 percent

Carter’s, Inc. said in a statement that net sales for the third quarter decreased 78.2 million dollars or 8.3 percent to 865.1 million dollars reflecting decreased sales to certain wholesale customers, decreased traffic to company-operated stores, and decreased back-to-school sales due to ongoing disruptions related to the Covid-19 pandemic,...

23 Oct 2020

Business

Some luxury brands are beating Q3 exceptions

Last week LVMH set a precedent for other luxury groups when it posted double digit growth for its fashion and accessories businesses in Q3. While in the first nine months organic revenue declined by 11 percent, due to global lockdown measures and store closures, the third quarter saw a strong rebound in activity, with a growth of 12 percent....

23 Oct 2020

Podcast

CEO Marcelo Camberos discusses Ipsy’s pandemic-proofing strategy

CEO of Ipsy, Marcelo Camberos, said he hoped the Covid-19 pandemic would allow Ipsy to become “a bigger part of members’ lives.” In the Glossy Beauty Podcast, Camberos discusses how to create added value in a business, the future of Ipsy, the development of Ipsy’s beauty brands and what the new influencer looks like.Listen to the 30 minute...

23 Oct 2020

Retail

UK retail sales continue to improve in September

UK retail sales increased by 1.5 percent in September compared to August, marking the fifth consecutive month of growth. Sales are now 5.5 percent higher than they were at February's pre-pandemic levels, according to the Office for National Statistics (ONS). In the three months to September, retail sales volumes increased by 17.4 percent...

23 Oct 2020

Business

Moncler posts 15 percent revenue decline in Q3

For the first nine months of 2020, Moncler said that the company recorded revenues of 765.1 million euros, a decrease of 23 percent at current exchange and of 22 percent at constant exchange rates impacted by the Covid-19 pandemic, whose effects continued also in the third quarter of this year, although with lesser effects. In the third quarter,...

23 Oct 2020

Business

Kering's luxury houses report positive sales growth in Q3

Kering’s consolidated revenue in the third quarter totalled 3,717.7 million euros, down 4.3 percent as reported and 1.2 percent on a comparable basis. This performance, the company said, represents a sharp rebound compared with the year-on-year contraction of 43.5 percent as reported and 43.7 percent on a comparable basis posted in the second...

23 Oct 2020

Retail

Is this the end of Gap's European journey?

Three years ago, in 2017, Gap closed its UK merchandising operations. The New York-based company had sought to centralise its global workforce, despite the European market showing different requirements in assortment and fit. At the time it affected all roles within the UK team, from allocators and assistant merchandisers to merchandising...

22 Oct 2020

Retail

WorldHost 2020: Capital & Regional, the first UK shopping centre business to give entire guest experience staff Covid-19 training

Capital & Regional, the UK’s leading owner and manager of community shopping centres, has become the first UK shopping centre business to train its entire front line team in a new customer service module from WorldHost, the world-class programme responsible for training staff at the London Olympics in 2012. “Given the current climate, we...

22 Oct 2020

Business

UK government expands Covid-19 support package

UK chancellor Rishi Sunak has announced additional financial support for jobs and businesses as the country grapples with a growing number of Covid-19 cases and new lockdown restrictions. As part of the new measures, the Job Support Scheme, which will come into effect on 1 November and looks to replace the furlough scheme, has been made “more...

22 Oct 2020

Business

Hermès reports positive sales momentum in Q3

After a second quarter marked by the health and economic crisis, Hermès said, sales in the third quarter increased 7 percent at constant exchange and 4 percent at current exchange rates driven by positive activity in the group’s stores, up 12 percent at constant exchange, momentum in Asia and an improvement in all other geographical areas. At...

22 Oct 2020

Business

RNB Retail posts 32.8 percent drop in Q4 comparable sales

For the fourth quarter, RNB Retail said net sales decreased to 326 million Swedish krona, while comparable sales for the group on all national markets decreased by 32.8 percent. The company said in a statement that sales for comparable units in Sweden decreased by 35.5 percent, compared to the market downturn of 18.4 percent and operating income...

22 Oct 2020

Retail

Greater Manchester to enter tier 3 lockdown

Greater Manchester is to move to the highest level of Covid-19 restrictions - transitioning from ‘high’ alert to ‘very high’ alert - as the region continues to experience a spike in cases. Under the new tier 3 restrictions, which will come into effect at midnight on Friday 23 October, people “must not socialise with anybody they do not live...

21 Oct 2020