Gap Inc. announced on Monday that it was extending its store closures, forcing the company to furlough the majority of its store teams in the United States and Canada, as well as head office employees globally.
The New York-based brand management company announced a net loss of $95.0 million in the fourth quarter on Monday, widening from the loss of $69.1 million reported by the group in the same period in the previous year.
Monte-Carlo Fashion Week 2020, the 1.618 Biennale and the OpenMyMed Prize 2020-21 are the latest international events to announce their postponement, while the Milan Furniture Fair has cancelled its 2020 edition.
DIY dress-making, live-streamed cookery and yoga sessions, competitions: many ready-to-wear labels and retailers are featuring daily activities on their social media channels to amuse their fans and stay connected.
The luxury menswear group has pitched into the Covid-19 fight with a €3 million personal donation by its senior management and the Zegna family to Italy's Civil Protection Agency, and by starting mask production.
Mothercare said it continues to make big progress with its transformation plan, but Covid-19 is having an impact and has delayed final contracts being signed for its Boots franchise deal, as well as hurting sales.