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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. 
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Amazon to deploy masks and temperature checks for workers by next week

Amazon to deploy masks and temperature checks for workers by next week

​Amazon.com Inc plans to roll out temperature checks and face masks for staff at all its U.S. and European warehouses by early next week, a huge deployment for workers on the front lines of the coronavirus outbreak.
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Neiman Marcus advances bankruptcy preparations

Neiman Marcus advances bankruptcy preparations

Neiman Marcus Group is stepping up preparations to seek bankruptcy protection, after the coronavirus pandemic forced the debt-laden U.S. luxury department store chain to close its stores, sources said on Thursday.
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AEO, Caleres and Lululemon implement cost-cutting initiatives to stay afloat during Covid-19 pandemic

AEO, Caleres and Lululemon implement cost-cutting initiatives to stay afloat during Covid-19 pandemic

As it becomes clear that store closures will continue for longer than anticipated, companies including AEO, Caleres, Lululemon and Ulta Beauty have announced further measures to preserve their financial liquidity.
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Arcadia furloughs 14,500 staff, more firms will join it says analyst

Arcadia furloughs 14,500 staff, more firms will join it says analyst

The owner of the Topshop and Dorothy Perkins chains has furloughed the majority of its staff as, like the rest of the retail sector, it continues its fight for survival in the face of the coronavirus crisis.
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Diesel, Maison Margiela and Marni to donate 10% of online revenues to Covid-19 fight

Diesel, Maison Margiela and Marni to donate 10% of online revenues to Covid-19 fight

OTB, which controls Diesel, Maison Margiela and Marni, has announced that all three brands will donate 10% of their online revenues during the month of April to the struggle against Covid-19.
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VF Corp names Nina Flood to key Eastpak role, Paula Gozzo moves up at Kipling

VF Corp names Nina Flood to key Eastpak role, Paula Gozzo moves up at Kipling

VF Corp has named Nina Flood as President of its Eastpak brand with the new chief being based in Antwerp, Belgium, where the brand’s marketing and sales operations are based. 
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European textile and apparel manufacturers in dire straits

European textile and apparel manufacturers in dire straits

One in four manufacturers is considering closing down. Half are experiencing sales shortfalls in excess of 50%, and 80% of them are cutting jobs, with no re-localisation in sight even once the emergency is over.
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H&M to pay suppliers in full for orders fulfilled, but halts new orders

H&M to pay suppliers in full for orders fulfilled, but halts new orders

Swedish giant H&M Group has told suppliers in Bangladesh and other manufacturing countries that they will receive payment for the orders they have already fulfilled or begun and it won't expect discounts. 
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H&M comes closer to achieving 100% sustainable cotton

H&M comes closer to achieving 100% sustainable cotton

Swedish retail giant H&M has revealed that 97% of its cotton came from sustainable sources in 2019, as it moved one step closer to achieving 100% sustainable cotton.
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CEO of menswear label Pal Zileri says effects of Covid-19 on business “devastating”

CEO of menswear label Pal Zileri says effects of Covid-19 on business “devastating”

The Italian menswear label, now facing the A/W20 collection’s first order cancellations, is asking the Italian government for cash-flow support, an extension to temporary redundancy measures and rent suspensions.
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Mango launches livestreamed Home Sessions concerts via Instagram

Mango launches livestreamed Home Sessions concerts via Instagram

Mango is launching a lockdown initiative called Home Sessions, a series of livestreamed concerts. The first happens at 6 pm on Thursday with Marta Knight performing live from her home via the Mango Instagram channel.
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Mayhoola donates €1 million to emergency field hospital in Madrid

Mayhoola donates €1 million to emergency field hospital in Madrid

Mayhoola, the group that controls Valentino, Balmain and Pal Zileri, has made a €1 million donation to the fight against Covid-19. It follows a major donation in Italy by the Qatari-based investment vehicle.
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Intu talks tough with bigger brands on rents

Intu talks tough with bigger brands on rents

Intu is refusing to let some larger "well-capitalised" tenants avoid paying store rents and service charges during the Covid-19 crisis, saying that it doesn't have the "financial capacity to bankroll" global brands.
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Landsec says Covid-19 is hurting it but it has plenty of cash

Landsec says Covid-19 is hurting it but it has plenty of cash

Property giant Land Securities, which includes Bluewater among its flagship sites, said on Thursday that it has received two-thirds of the rents it's owed and is financially robust.
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Next wants to sell and lease back HQ and warehouses to raise cash

Next wants to sell and lease back HQ and warehouses to raise cash

The company thinks that it could potentially rise up to £100 million in the sale of the properties as it works to conserve as much cash as possible in the current coronavirus crisis.
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