Under Armour, Inc. has announced actions it is taking to address the financial impact of the COVID-19 pandemic. Additionally, the company said in a statement that the company’s board of directors has approved a previously planned restructuring initiative designed to rebalance its cost base to further […]

Primark parent company Associated British Foods (AB Foods) has announced it is cutting the pay of its leadership team in a bid to save costs and mitigate the impact of Covid-19. Primark CEO Paul Marchant has requested that his base pay be temporarily halved. AB Foods CEO George Weston and finance director […]

The Modist, once dubbed the Net-a-Porter of luxurious, modest fashion, has ceased operations and closed its e-commerce store. The London and Dubai based company founded by Ghizlan Guenez announced on Thursday it would stop trading as it could not withstand the financial pressures caused by the impact […]

For the first quarter to February 29, 2020, Hennes & Mauritz (H&M) group’s net sales increased by 8 percent to 54,948 million Swedish krona (5,433 million dollars), while in local currencies, net sales increased by 5 percent compared with the same quarter the previous year. The company added […]

Arcadia Group, which owns brands Topman, Topshop, and Burton, has furloughed the majority of its staff in new measures to mitigate the impact of Covid-19 on the business. The company said all store employees have been furloughed since 21 March and “the majority” of its head office employees will be […]

A year after the acquisition by Golf equipment supplier Callaway, outdoor brand Jack Wolfskin continues its expansion abroad. The German company will "finally invest seriously and sustainably in North America and also in Japan," said CEO Melody Harris-Jensbach when talking to German business weekly […]

American Eagle Outfitters, Inc. has announced that in response to ongoing store closures due to COVID-19, the company is taking a series of actions to preserve financial strength including a suspension of its share repurchase program and deferred payment of the first quarter cash dividend; temporary […]

Lululemon Athletica Inc. has undertaken a range of actions and initiatives to support its employees as COVID-19 continues to impact the business. Understanding the pandemic may continue for the foreseeable future, the company said in a statement, stores in North America, Europe, Malaysia, Australia, […]

Zumiez Inc. has announced that all Zumiez brand stores in the U.S. and Canada as well as the company’s Blue Tomato stores in Europe and Fast Times stores in Australia will remain closed until further notice. The company said in a statement that it ended fiscal 2019 with over 250 million dollars in cash […]

Johannes Altmann, owner and CEO of consulting firm Shoplupe, is one of the most important e-commerce minds in Germany when it comes to the customer experience. The current situation presents a real paradigm shift, not only for brick and mortar stores but also for online retailers. We asked the online […]

Related news