The arrangement aims to ensure that those who are unable to work continue to receive full pay. This includes people who have tested positive, those who have to self isolate and parents who are unable to work remotely.
UK retail will lose £12.6bn from its consumer spend this year, says new research from GlobalData, and fashion retail will lose over 20% due to the coronavirus. It's likely similar falls will happen in other countries.
LVMH has denied planning to buy Tiffany shares on the open market, contradicting market rumors stating that they were about to do exactly that, after the US jeweler's stock price fell on the New York Stock Exchange.
Ted Baker said Monday that stores accounting for 68% of annual retail sales are now shut. But while that’s bad news, it also had something good to report with e-tail up strongly and its HQ sold for a good price.
Target will up the hourly wage of workers in its stores and distribution centers, and donate $10 million to expand assistance related to the pandemic, marking Target's largest donation ever to a single relief effort.
EU antitrust regulators are focusing on the impact of Ray-Ban maker EssilorLuxottica's 7.2 billion euro bid for Dutch opticians group GrandVision in Italy and Britain, according to an EU document seen by Reuters.
Cath Kidston needs to find a buyer urgently, a news report said at the weekend. The company is believed to have called in Alvarez & Marsal (A&M) to conduct an urgent review of its options and ask for fast bids.
The American cosmetics conglomerate has reported that it expects to see a 20% decline in sales in Q3 and also announced a series of measures it is implementing to counteract the effects of the ongoing health crisis.