The British retailer canceled approximately 2.5 billion pounds of clothing orders from Bangladeshi suppliers, making the country’s clothing industry move towards a “major crisis.”
As retailers struggled to deal with the impact of the coronavirus pandemic, in recent weeks, companies including Arcadia, Frasers Group, Asda, Debenhams, New Look, and Peacocks have all canceled contracts.
Some retailers (such as Primark) have promised to pay orders to support suppliers in a crisis.
Last week, the value fashion giant’s parent company Associated British Foods (Associated British Foods) promised to pay 370 million pounds of orders and its 1.5 billion pounds of inventory already in stores, warehouses, and transportation.
One month after all stores were closed, Homebase has tried to reopen its 20 physical stores.
Although Homebase is listed as an essential retailer by the government, the company initially decided to close all stores on March 25 and focus on its online operations.
The retailer has now decided to try to reopen 20 stores and adopt social alienation and other security measures. Homebase did not disclose how long the attempt will last.
Sainsbury’s CEO Mike Coupe said in a letter to customers yesterday that by next week, Sainsbury’s “majority” supermarkets will open from 8 am to 10 pm, and the opening hours of many convenience stores will also be extended to 11 pm.
Department store John Lewis is planning to reopen the store next month. According to the “Sunday Post” report, John Lewis executive director Andrew Murphy said that the retailer may begin to gradually resume its 50 stores next month.
Marks & Spencer
Marks & Spencer has received new funding because it gradually improved its balance sheet situation during the Coronavirus crisis.
M & S plan to borrow cash through the government’s Covid Corporate Financing Facility, and has also reached an agreement with the bank to “fully relax or cancel the contractual conditions of its existing £ 1.1 billion credit line.”
M & S said the move will “ensure liquidity” during the Coronavirus crisis and “support the recovery strategy and accelerate transformation” in 2021.
The retailer acknowledged that its apparel and a home business was severely constrained by the closure of the store, and warned that as the government’s response to the coronavirus crisis further extended the deadline, the future prospects for retail business development are unknown.
Unless the government changes its position on business rates, Debenhams may have to close its branches in Wales.
The Welsh government has changed its stance on interest rate cuts. The BBC reported that Prime Minister Rishi Sunak provided this service to all businesses, but in Wales, the qualification threshold was adjusted to strengthen support for small businesses.
However, Debenhams Chairman Mark Gifford warned that this decision undermined the future development of Debenhams stores in Cardiff, Llandudno, Newport, Swansea, and Wrexham.
Simon Property Group
Simon Property Group, the largest shopping center owner in the United States, plans to reopen its shopping center.
An internal memo from Simon Property Group obtained by CNBC shows that it plans to reopen 49 shopping centers and outlet centers in 10 states between May 1 and May 4.
The reopened properties will be located in Texas, Indiana, Alaska, Missouri, Georgia, Mississippi, Oklahoma, South Carolina, Arkansas, and Tennessee.
The reopening of these shopping malls is different from the previous store openings in Texas, which only allowed delivery to the car and roadside pickup. And Simon Property Group will welcome consumers into the store and provide them with temperature checks and CDC approved masks and disinfection kits. Although shopping center staff will require masks, shoppers do not need to wear masks.
Furniture retailer Havertys plans to resume operations and reduce personnel within a week.
Havertys is expected to reopen 108 of its 120 stores on May 1 and reopen the remaining locations in mid-May. The company will also resume its logistics and express delivery business. Havertys closed the store on March 19 and stopped delivery on March 21.
In addition, Havertys announced that it will cut 1,495 of its 3,495 employees.
The retailer said that it plans to restart its business with a limited number of employees and short working hours, and adjust to the business rhythm, so it plans to adopt a phased approach. The company will follow the guidance of the Center for Disease Control and Prevention and will implement enhanced cleaning measures, social isolation, and use of masks throughout the operation to ensure the safety of employees, customers, and the community.
During the pandemic of the new coronavirus, Kroger continued to add new measures to protect its customers and employees.
Since April 26, the supermarket giant has required all employees to wear masks at work. Kroger will provide masks; employees are also free to use their own suitable mask or face mask.
The retailer said: “We recognize that due to medical reasons or other conditions, some employees may not be able to wear masks. This will depend on the situation. We are looking for face masks to provide these employees and explore other possible options as needed. ”
Bed Bath & Beyond
Bed Bath & Beyond quickly adjusted its business in response to the outbreak of online shopping demand during the New Coronavirus pandemic.
The company said it has converted about 25% of its stores in the United States and Canada into regional logistics centers, and its online order fulfillment capacity has almost doubled to support the substantial growth of online sales. Bed Bath & Beyond said that as of April, its online sales had increased by more than 85%.
Post time: May-04-2020