US retail giant JCPenney has a new CEO and has named Marc Rosen to the post, effective November 1. And Stanley Shashoua, chief investment officer at the firm’s owner, Simon Property Group, becomes executive chairman.
Asos concluded a strong year with a four-month autumn and festive period that showed just how strong a business it is. Sales soared not just in the UK but globally and it expects higher profit as a result.
Nearly half of the luxury industry's top managers are expecting sector sales to return to 2019 levels from 2021, reflecting adjustments in their business models, according to a study by French consulting firm MAD.
The ongoing coronavirus pandemic is expected to result in a 5.1% fall in U.S. retail spending in 2020, more than double the decline seen during 2009’s financial crisis, with fashion set to be among the biggest victims.