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Debenhams is in administration again, Irish stores to close for good

Debenhams is in administration again, Irish stores to close for good

Debenhams officially filed for administration on Thursday in a widely flagged move to protect it from the worst effects of the coronavirus crisis. It's the second time in a year the chain has gone into administration.
Fashion
Westfield managers take pay cut, company's credit rating cut

Westfield managers take pay cut, company's credit rating cut

Unibail-Rodamco-Westfield has announced pay cuts of between 20% and 25% for its senior execs with the unpaid salaries and fees being used to support efforts to fight the coronavirus in the countries in which it operates.
Fashion
UK footfall uptick last weekend is worrying trend says Springboard

UK footfall uptick last weekend is worrying trend says Springboard

It may come as no surprise that footfall in the UK declined sharply in late March, but it's worrying that it moved up again last Saturday and Sunday as UK consumers looked for something to do in the warm weather.
Fashion
Lindex owner Stockmann to file for corporate restructuring

Lindex owner Stockmann to file for corporate restructuring

Stockmann's parent company is filing for corporate restructuring as cash flows are dented by the coronavirus. But its department stores and its Lindex chain won't be affected, the company said on Monday.
Fashion
Retailer alert: UK consumer confidence dives as lockdown goes on says GfK

Retailer alert: UK consumer confidence dives as lockdown goes on says GfK

GfK only issued its regular monthly consumer confidence report last week, but on Monday it added that confidence has dived with a new reading of -34 by the end of last month. In March 2019, it was -13.
Fashion
Cath Kidston time runs out, will appoint administrators

Cath Kidston time runs out, will appoint administrators

Cath Kidston has bowed to the inevitable and filed notice to appoint administrators as coronavirus makes its current turnaround plan a lost cause. A buyer is still being sought with a pre-pack administration likely.
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
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
Major Japan department stores book worst-ever sales slump in March

Major Japan department stores book worst-ever sales slump in March

Some of Japan’s biggest department store owners on Wednesday reported an unprecedented slump in March sales as the coronavirus outbreak hit tourism and forced stores to shorten their operating hours.
Fashion
MySale says more product available due to store closures, March sales improve

MySale says more product available due to store closures, March sales improve

Half-year results for MySale Group on Wednesday looked weak. But the firm also said it’s been boosted by current market volatility with more product available to it and more brands wanting to sell via its marketplace.
Fashion
Laura Ashley makes redundancies, sale talks continue

Laura Ashley makes redundancies, sale talks continue

Laura Ashley’s administrators have made 268 head office and back office staff redundant with the remaining store staff now on furlough as all of its shops are currently shut.
Fashion
Hong Kong February retail sales plunge 44% year-on-year as coronavirus spreads

Hong Kong February retail sales plunge 44% year-on-year as coronavirus spreads

Hong Kong’s retail sales fell by a record 44% in February from a year earlier, as travel restrictions kept tourists away and residents avoided shopping centres to prevent the spread of the coronavirus.
Fashion
Milan Furniture Fair postponed to April 2021

Milan Furniture Fair postponed to April 2021

Milan’s internationally renowned home decoration and design trade fair has suspended its 2020 edition due to the Covid-19 emergency, rescheduling it to April 13-18 2021, when it will celebrate its 60th anniversary.
Lifestyle
Furniture giant Ikea making masks to help fight coronavirus

Furniture giant Ikea making masks to help fight coronavirus

Furniture giant Ikea is producing face masks and other protective gear for hospitals, joining a growing list of companies branching out of their normal areas to help meet equipment shortages.
Lifestyle
Hammerson rents fall short across Europe, reassures on liquidity

Hammerson rents fall short across Europe, reassures on liquidity

Malls giant Hammerson said Monday it has received “a variety of requests for rent deferrals, which we are reviewing on a case-by-case basis” across its properties in the UK, Ireland France and other European countries.
Fashion