Wednesday brought a rare piece of good news from UK fashion retail as Asos said it has “continued to deliver a strong operational performance and year-on-year improvements in profitability” in this financial year.
German online fashion retailer Zalando on Tuesday reported a more than doubling of sales on its site from brands seeking to expand their e-commerce presence, helping total second-quarter revenue jump 27%.
More British shoppers returned to the high street in July, helped by the reopening of pubs and restaurants, but numbers were still much lower than normal for the time of year, an industry survey showed on Friday.
Fashion conglomerate Shandong Ruyi has brushed aside a sale of textile maker Lycra proposed by Lycra's creditors and is instead looking to publicly float the business, two people with direct knowledge told Reuters.
UK shopping centre operator Hammerson announced moves to raise a combined £825m on Thursday and said it would reboot the terms of its leases with retailers as it faced a slump in rent collections and footfall.
Retail sales volumes in the eurozone rebounded in June to levels seen in February before lockdowns, official estimates showed on Wednesday, completing a recovery that began in May after record drops in March and April.
Fashion giant Inditex has pledged to maintain workers' rights throughout its supply chains and the stability of payments to suppliers, as the garment industry wrestled with a plunge in orders during the COVID-19 crisis.