Under Armour, Inc. has announced actions it is taking to address the financial impact of the COVID-19 pandemic. Additionally, the company said in a statement that the company’s board of directors has approved a previously planned restructuring initiative designed to rebalance its cost base to further […]

Primark parent company Associated British Foods (AB Foods) has announced it is cutting the pay of its leadership team in a bid to save costs and mitigate the impact of Covid-19. Primark CEO Paul Marchant has requested that his base pay be temporarily halved. AB Foods CEO George Weston and finance director […]

Arcadia Group, which owns brands Topman, Topshop, and Burton, has furloughed the majority of its staff in new measures to mitigate the impact of Covid-19 on the business. The company said all store employees have been furloughed since 21 March and “the majority” of its head office employees will be […]

American Eagle Outfitters, Inc. has announced that in response to ongoing store closures due to COVID-19, the company is taking a series of actions to preserve financial strength including a suspension of its share repurchase program and deferred payment of the first quarter cash dividend; temporary […]

Lululemon Athletica Inc. has undertaken a range of actions and initiatives to support its employees as COVID-19 continues to impact the business. Understanding the pandemic may continue for the foreseeable future, the company said in a statement, stores in North America, Europe, Malaysia, Australia, […]

Zumiez Inc. has announced that all Zumiez brand stores in the U.S. and Canada as well as the company’s Blue Tomato stores in Europe and Fast Times stores in Australia will remain closed until further notice. The company said in a statement that it ended fiscal 2019 with over 250 million dollars in cash […]

The next few weeks are crucial for small and medium-sized fashion companies, who must carefully budget cashflow. Many may not survive. Research published by the BBC says nearly 20 percent of all SME’s are unlikely to get the cash they need to survive the month of April, despite government-backed proposals […]

Next is reportedly looking to offload its London HQ and three of its warehouses in its latest effort to mitigate the impact of Covid-19 on the business. The news comes after the company announced last week it was halting online orders during the pandemic to ensure the safety of its employees working […]

European textile and clothing manufacturing could suffer a 50 percent drop in sales and production due to the Covid-19 pandemic as they struggle with the financial and logistical implications of the crisis, new data suggests. An ongoing poll by the European Apparel and Textile Confederation (Euratex) […]

VF Corporation has announced the appointment of Nina Flood as President, Eastpak, effective April 1, 2020. The company said in a statement that she will be based in Antwerp, Belgium where the brands’ marketing and sales operations are based and will report to Martino Scabbia Guerrini, Executive Vice […]