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Finance

Chancellor Rishi Sunak

Chancellor announces further COVID-19 support for businesses

More businesses will be able to access financial support during the coronavirus lockdown after the Chancellor announced a wider package of measures to assist...
High street

Britain’s high street suffers worst month on record with fashion down...

Britain’s high street retailers suffered their worst month on record in March as they were hammered by the Covid-19 lockdown, according to new figures. The...
Arcadia Topshop

Arcadia furloughs the vast majority of its staff

Sir Philip Green's fashion empire Arcadia is to furlough 14,500 of its 16,000-strong workforce amid the Coronavirus crisis. The group's stores have all been closed...
Adidas

Adidas suspends €1 billion share buyback

German sports giant, Adidas has announced it will suspend a €1 billion share buyback it had planned for this year in order to conserve cash...
High streets task force clothing retailers

BRC urges government to release funds faster to stop retailer insolvencies

The British Retail Consortium (BRC) has urged the government to speed up the time it takes for retailers to gain access to the proposed...
Urban Outfitters

Urban Outfitters owners to borrow $220 million to protect business

Urban Outfitter owners URBN today announced it will take measures to protect the financial position of the business, including temporarily closed stores remaining closed...
Mike Ashley Sports Direct Frasers Group

Frasers Group executives take pay cut amid coronavirus crisis

Directors at Mike Ashley's Frasers Group have agreed to have their annual salaries cut to £40,000 while all staff have their salaries guaranteed at...
Laura Ashley

Laura Ashley to cut 268 jobs following administration

Laura Ashley is to cut 268 jobs after the fashion and furniture retailer slid into administration last week. However administrators claim there is interest...
GFG

Global Fashion Group withdraws financial guidance for 2020

Online fashion and lifestyle destination, Global Fashion Group has confirmed it will be withdrawing financial guidance for 2020, which excluded negative effects...
M&S Marks & Spencer

Analysts expect Marks and Spencer division sales to fall by up...

Goldman Sachs analysts have said they expect clothing & home division sales at Marks & Spencer to plunge by up to 60% in the three months...
Tommy Hilfiger Calvin Klein

PVH Corp donates one million dollars to COVID-19 relief efforts

The PVH Corp Foundation has announced it is committing one million dollars toward COVID-19 relief efforts, including a $100,000 donation to the COVID-19 Solidarity...

Kering postpones its Annual Shareholders Meeting

Luxury conglomerate, Kering has announced it will be postponing its annual shareholders meeting due to the Coronavirus epidemic. Kering said in a release: “Given the...