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The impact of the COVID-19 pandemic on the fashion industry was primarily caused by the sudden and global store closures worldwide which strongly impacted the fashion industry. The complete absence of revenue from physical stores caused a deep drop of revenue for fashion retailers, a complete reconfiguration of the stocks for fashion brands ...
The COVID-19 pandemic has taken a sharp economic toll on the retail industry worldwide as many retailers and shopping centers were forced to shut down for months due to mandated stay-at-home orders. As a result of these closures, online retailers received a major boost in sales as customers looked for alternative ways to shop and the effects of ...
Sales of luxury goods are forecast to drop by 2% to 363 billion euros ($385 billion) next year, from an expected 369 billion euros in 2024, due to steep price increases imposed by brands and ...
Travel to Ghana from countries with over 200 positive COVID-19 cases was deterred by authorities, with such travelers being denied admission; however, this restriction did not apply to Ghanaian citizens or people with resident permits. [171] All of the country's borders were later closed from midnight of Sunday 22 March 2020.
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Constellation Brands (STZ) clarifies to investors that its fiscal 2020 sales remain unaffected by the coronavirus outbreak in China due to less international exposure.
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]
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