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Footwear

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Shoe Zone furloughs thousands of employees, cancels final dividend

Shoe Zone furloughs thousands of employees, cancels final dividend

Budget footwear retailer Shoe Zone saw its shares fall as much as 53% on Friday morning after announcing plans to cancel dividend payments.
Fashion
Galeria Karstadt Kaufhof files for creditor protection

Galeria Karstadt Kaufhof files for creditor protection

German department store Galeria Karstadt Kaufhof and its subsidiary Karstadt Sports have filed for creditor protection after seeing a drop in sales as a result of the coronavirus crisis.
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
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.
Fashion
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.
Fashion
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.
Fashion
Paris June trade shows cancelled due to Covid-19

Paris June trade shows cancelled due to Covid-19

The organisers of the fashion trade shows usually held in Paris in June have published a joint release announcing their cancellation due to the "unprecedented context of the global health crisis."
Fashion
Fashion: creating unique content, not clothes, as a morale booster during the Covid-19 pandemic

Fashion: creating unique content, not clothes, as a morale booster during the Covid-19 pandemic

Fashion houses have begun reaching out to their massive global communities via social media to encourage creativity at home, healthy living and inter-connectivity during the global lockdown caused by coronavirus.
Fashion
Frasers Group execs take big pay cut as crisis continues

Frasers Group execs take big pay cut as crisis continues

Frasers Group, the owner of Sports Direct, Flannels, Jack Wills and House of Fraser, has said that its executive team will take lower salaries during the coronavirus crisis.
Fashion
JD Sports withholds rents, in talks on next quarterly bill

JD Sports withholds rents, in talks on next quarterly bill

JD sports is the latest big-name retailer to withhold rent. The quarterly rent that was due last week on its UK stores hasn't been paid and it's believed to be talking to its landlords about the bill that’s due in June.
Fashion
Crocs, G-III and Ascena announce further measures to deal with coronavirus crisis

Crocs, G-III and Ascena announce further measures to deal with coronavirus crisis

Extended store closures, furlough programs and base salary reductions are just some of the measures announced by U.S.-based fashion retailers such as Crocs, Ascena and G-III since the start of the week.
Fashion
Hibbett Sports finds permanent CFO

Hibbett Sports finds permanent CFO

The Birmingham, Alabama-based sportswear retailer announced on Monday that it is appointing Robert J. Volke as its first permanent CFO since Scott Bowman resigned from the role in April of last year.
Fashion
M&S to see fashion sales plunge say analysts

M&S to see fashion sales plunge say analysts

Analysts at Goldman Sachs have said they expect clothing & home division sales at Marks & Spencer to fall by up to 60% in the three months to the end of June. 
Fashion
Zalando makes Connected Retail deal more affordable to support physical stores

Zalando makes Connected Retail deal more affordable to support physical stores

Zalando has announced an expansion of its Connected Retail program to help physical shops continue their businesses during the coronavirus crisis. 
Fashion
Zalando says coronavirus crisis hits sales, profit

Zalando says coronavirus crisis hits sales, profit

German online fashion retailer Zalando said on Monday it was trimming spending and investment as coronavirus lockdowns hit its sales and profitability.
Fashion
Deichmann, H&M and Adidas: More retailers stop paying rent

Deichmann, H&M and Adidas: More retailers stop paying rent

More and more well-known retail companies are holding back rent payments in Germany after being forced to close their stores in the fight against the coronavirus pandemic.
Fashion