×
68 067
Fashion Jobs
LULULEMON
Assistant Manager, Operations | San Marcos Premium Outlet
Permanent · San Marcos
LULULEMON
Assistant Manager, Operations | Scottsdale Quarter
Permanent · Scottsdale
LULULEMON
Assistant Manager, Operations | Broughton st (Savannah, ga)
Permanent · Savannah
GAP
General Manager - Topanga Plaza
Permanent · Los Angeles
ADIDAS
Senior Finance Analyst
Permanent · Portland
ADIDAS
Key Account Manager - Macy's
Permanent · New York
MACY'S
Asset Protection Detective, Bay Fair - Full Time
Permanent · San Leandro
MACY'S
Asset Protection Detective, North Point - Full Time
Permanent · Alpharetta
MACY'S
Asset Protection Detective, Santa Rosa Plaza - Full Time
Permanent · Santa Rosa
MACY'S
Asset Protection Detective, West Covina - Full Time
Permanent · West Covina
MACY'S
Asset Protection Captain, Sunrise - Full Time
Permanent · Citrus Heights
MACY'S
Asset Protection Detective, Center City - Full Time
Permanent · Philadelphia
MACY'S
Asset Protection Detective, Kaahumanu Center - Full Time
Permanent · Kahului
MACY'S
Asset Protection Detective, Lakeside - Full Time
Permanent · Metairie
MACY'S
Manager, Asset Protection Multi-Store
Permanent · Maplewood
MACY'S
Asset Protection Security Guard, Metro Center - Full Time
Permanent · Washington
MACY'S
Senior Manager Omni Operations
Permanent · Chicago
MACY'S
Manager, Merchandise Execution
Permanent · Santa Clara
MACY'S
Manager, Merchandise Execution
Permanent · Santa Clara
MACY'S
Manager, Merchandise Execution
Permanent · San Jose
ROSS STORES
Store Protection Specialist
Permanent · Burbank
ROSS STORES
Store Protection Specialist
Permanent · Union City
Translated by
Nicola Mira
Published
Jan 30, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Major international chains temporarily closing branches in China

Translated by
Nicola Mira
Published
Jan 30, 2020

The coronavirus epidemic that broke out in the city of Wuhan in China a few weeks ago is forcing many major international brands and retailers to temporarily close their branches. H&M took the lead, announcing the closure of 74 of its Chinese stores, and of four Monki stores, until further notice, according to press agency DPA. The Swedish fast-fashion retailer operates just over 500 stores in China, its fifth-largest market worldwide in terms of sales volume.


Uniqlo has an extensive presence in China, as here in Shanghai - Fast Retailing


H&M also announced that it has stopped all business travel by its employees to China, and within the country. H&M employees returning from China have been advised to stay at home for two weeks before going back to their places of work.

Another ready-to-wear giant, Japanese group Fast Retailing, owner of Uniqlo, reported it has closed some 100 stores in the Hubei province, where the city of Wuhan is located, and in the surrounding area. Gap closed five stores, as well as three Old Navy stores, according to Business Insider. Spanish fashion-giant Inditex (owner among others of Zara, Bershka and Oysho), for whom China is the second-largest market worldwide in terms of doors with nearly 600 stores, has yet to announce any action.

Outside the fashion sector, many other major chains have taken preventive measures. For example, Starbucks, which has a very extensive footprint in China with over 4,200 branches, and has closed 2,000 of them, indicating also that this decision is bound to have an impact on its annual results. On January 29, Ikea decided to close half of its 30 Chinese branches, having done so with the Wuhan branch a week ago.

For all of these groups, which have followed the advice of the WHO and local authorities, the loss of revenue will undoubtedly be significant, all the more so since the virus’ spread hasn’t been stopped yet. The share prices of some leading luxury groups have also slipped on the world’s stock markets.
 

Copyright © 2022 FashionNetwork.com All rights reserved.