The wealthy in America are expected to splurge online for gifts and home decorations this holiday season, even as the Covid-19 pandemic erodes sales growth to the slowest in at least a decade, according to a forecast.
As more school districts roll back their reopening plans to curb the spread of coronavirus, major retailers are aggressively discounting back-to-school items and airing new ads featuring students taking classes at home.
As footwear retailer Clarks seeks new funding, a number of private equity companies are reportedly keen to take a stake in the company. And a former Triumph head is joining next month to run the Clarks unit.
UK retail giants Next and Marks & Spencer are both interested in taking on the British operations of Victoria's Secret, the international lingerie brand owned by L Brands, according to a report on Friday.
Debenhams isn’t the only UK retailer to opt for a so-called light touch administration filing during the lockdown and on Friday, the UK arm of Victoria’s Secret did the same, naming Deloitte to handle the process.
The coronavirus crisis claimed thousands more jobs on Thursday as a deal was struck to sell the group comprising Oasis, Warehouse and smaller brand The Idle Man to Hilco Capital. Their stores aren't part of the deal.