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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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Shopify announces optimistic Q1, suspends 2020 outlook

Shopify announces optimistic Q1, suspends 2020 outlook

Ottawa-based e-commerce company Shopify Inc. said on Wednesday that it is suspending its previous financial expectations provided for full-year 2020, as the Covid-19 crisis continues.
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Calvin Klein owner PVH sees full-year sales uptick, Q4 earnings plummet on Covid-19 impact

Calvin Klein owner PVH sees full-year sales uptick, Q4 earnings plummet on Covid-19 impact

PVH Corp. on Wednesday recorded both a fourth-quarter and full-year sales uptick in 2019, on the back of strong sales growth at Tommy Hilfiger, as the company tries to weather the financial impact of Covid-19.
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Alibaba-rival Pinduoduo raises $1.1 billion in share placement

Alibaba-rival Pinduoduo raises $1.1 billion in share placement

Chinese e-commerce firm Pinduoduo Inc said on Tuesday that it had raised $1.1 billion in a private share placement, bolstering its ability to finance growth, despite recent market volatility.
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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.
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Adidas apologizes for deferring store rent, will pay up

Adidas apologizes for deferring store rent, will pay up

Adidas apologized on Wednesday for saying it would stop paying rent for stores around the world forced to close by coronavirus lockdowns after a storm of criticism, saying it would pay up for April after all.
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German department store Galeria files for creditor protection

German department store Galeria files for creditor protection

German department store chain Galeria Karstadt Kaufhof is seeking protection from creditors to stay afloat, it said on Wednesday, after nationwide store closures to help to contain the spread of the coronavirus.
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Carhartt to launch production of 2.5 million protective masks

Carhartt to launch production of 2.5 million protective masks

In what amounts to a return to its roots, American workwear brand Carhartt has announced the production of no less than 2.5 million protective masks and 50,000 medical gowns for healthcare personnel.
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German retail sales boom as shoppers stockpile for coronavirus

German retail sales boom as shoppers stockpile for coronavirus

German households stocking up on daily essentials ahead of anticipated lock-down and quarantine measures caused retail sales in Germany to surge far beyond expectations in February, official data showed on Wednesday.
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Amazon warehouse workers protest near Detroit, days after NYC walkout

Amazon warehouse workers protest near Detroit, days after NYC walkout

Amazon.com Inc said on Wednesday a handful of workers staged a demonstration at one of its warehouses near Detroit, another U.S. protest this week over staff concerns about contracting the novel coronavirus on the job.
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Pronovias appoints new managing director for North America

Pronovias appoints new managing director for North America

The Barcelona-based luxury bridal group has announced the appointment of Ermenegildo Zegna alum Maurizio Mantovani as its new managing director for North America.
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