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The following retailers have all either closed or announced plans to close large numbers of retail locations, since 2010, during a time period labelled a "retail apocalypse" by media, accelerated by both the increase in online shopping and then by the economic impact of the COVID-19 pandemic.
Notably, retail closures have picked up this year because the sector’s sugar high of 2021 and 2022 — when consumers were buying new furniture, televisions and clothing — has ended. There ...
Many fashion retailers filed for bankruptcy in the aftermath of the pandemic. [1] [2] Almost overnight, fashion brands became 100% reliant upon digital solutions for sales. Fashion events were cancelled, pushing fashion brands to design novel ways to present their new collections. [1]
In March 2022, the company shut its Canda brand, which produced formalwear, due to the decline in sales as a result of the COVID-19 pandemic. [23] [24] In June 2022, C&A began selling clothing via Amazon. [25] [26] Also in July 2022, it was discovered that C&A's Serbian division was the victim of customs fraud on the import of goods from China ...
In 1987, director Luis Mentado Medina and his partner Lenita Burman started XTG Extreme Game designing and producing wetsuits. In the late 80's, the raising in the price of the high quality Japanese neoprene forced him out of business. After that he decided to launch a line of men's swimwear, what became the actual XTG Extreme Game brand.
Here are seven clothing brands the middle class can’t afford anymore. Tom Ford. ... Trump's ending of 90% of USAID foreign aid contracts slams programs around the world. News. NY Post.
As of 2019, Inditex is the biggest fashion retailer in the world by revenue. [34] The company's revenue fell by 18% to $1.85 billion in the final quarter of 2020, primarily due to the fall in retail sales as a result of the coronavirus pandemic. Inditex's stocks fell by 12% over the year. [35]
Zalando, which says it is focused on growing profits, stuck to its operating profit outlook for the year, but gross margin for the third quarter fell to 36.7% from 39.1% a year ago due to discounting.