​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.

​Struggling British department store chain Debenhams is to cut a further 2,500 jobs, dealing the latest blow to the country’s battered retail sector from the Covid-19 crisis.

​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%.

UK retail sales are recovering but fashion isn't a priority for many consumers as other traditional summer spend takes over. However, more consumers now feel happier about entering stores.

Mall operator Simon Property Group has been in talks with Amazon.com about turning some of its department-store sites into Amazon fulfillment centers, The Wall Street Journal reported.

July was a disappointing month for UK physical shops and fashion really struggled with online sales unable to make up for spending that wasn't happening on the high street.

Fashion giant H&M said on Thursday it has suspended a number of employees over the use of a racial slur relating to the name of a hat to be sold at stores of its & Other Stories brand.

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.

U.S. President Donald Trump on Thursday unveiled sweeping bans on U.S. transactions with China's ByteDance, owner of video-sharing app TikTok, and Tencent, operator of messenger app WeChat.

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.

Unifi, a leading innovator in recycled and synthetic yarns, posted a sales decline to $606.5m in fiscal 2020, which ended on June 28, compared to $708.8m last year. It saw a net loss of $57.2m.

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.

The value of the world textile trade decreased by 2.4 per cent year-on-year to $305 billion, while apparel trade dropped 0.4 per cent.

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.

Capri Holdings Ltd reported a smaller-than-expected quarterly loss on Wednesday, helped by a recovery in demand for its Versace and Jimmy Choo brands in China and a surge in online shopping.

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.