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Kohl’s said the coronavirus crisis would have a material impact on results this year as it removed eight brands including Jennifer Lopez, Juicy Couture and Popsugar from its stores and warned demand for women’s apparel would remain weak. Shares in the department store chain, which shut stores across the US due to lockdowns to halt …
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JCPenney plans to trim its store count by 29 percent, to about 604, as the US department store chain looks to focus on those more profitable, a regulatory filing showed on Monday, two days after it filed for bankruptcy protection. The stores to stay open accounted for 82 percent of the company’s fiscal 2019 sales, …
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JCPenney is preparing to file for bankruptcy protection as soon as next week with plans to permanently close about a quarter of its roughly 850 stores, becoming the latest major US retailer to succumb to fallout from the coronavirus outbreak, according to people familiar with the matter. A bankruptcy filing would cap a long decline …
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Cash-strapped Gap Inc. on Wednesday laid out plans to reopen stores in areas where lockdown curbs have eased, while also introducing social-distancing measures. Retailers are trying to restart business activity brought to a standstill due to the COVID-19 lockdowns. Their stores have remained closed for weeks and have resulted in thousands of workers being laid …
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Coming soon to a store near you: Clothing quarantines. In an effort to protect customers from the coronavirus, some clothing retailers have decided to sequester clothes that have been tried on in a fitting room. Saks Fifth Avenue aims to take its clothing out of commission for 48 hours after being tried on, according to …
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Privately held fashion company J.Crew Group is preparing for a bankruptcy filing that could come as soon as this weekend, CNBC reported on Thursday, citing people familiar with the matter. The company is working to secure $400 million in financing to fund operations in bankruptcy, the report added, cautioning that timing could still slip, and …
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He swears by them. Conor McGregor’s tailor is flipping the bird to the coronavirus with face masks based on his infamous “f - - k you” suit. “The Notorious” UFC star memorably sported the expletive-covered pinstripe design during the promotional events leading up to his highly publicized crossover fight with Floyd Mayweather three years ago. “Fresh new David …
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Target said on Thursday that rising costs from trying to meet the fast-changing needs of consumers during the coronavirus crisis were set to hurt its first-quarter profit and margins, even as it recorded robust online sales during March and April. The big-box retailer said digital comparable sales surged more than 275 percent in April, with …
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Gap Inc. warned on Thursday it may not survive the next 12 months intact and would need to borrow more funds in the face of widespread coronavirus shutdowns that have crippled the business of clothing retailers globally. The apparel retailer also said it had suspended rent payments for shuttered stores, and was in talks with …
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H&M, the world’s second-biggest fashion retailer, said on Wednesday it had started producing protective aprons at a supplier and would deliver one million aprons to the Swedish health care system over the coming two weeks. The company is one of a number of fashion retailers mobilizing to help fight the coronavirus pandemic. Larger rival Inditex, …