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Tag: crisis

Summer statement: the UK’s Covid-19 economic crisis in five key charts | Business

Rishi Sunak is preparing to deliver his set-piece tax and spending update on Wednesday against the backdrop of a deep recession and the threat of a sharp rise in unemployment. Here are five key charts that will underpin the policymaking behind the chancellor’s announcement. Furloughed jobs Furlough scheme chart Unemployment in Britain is beginning to …

Summer statement: the UK’s Covid-19 economic crisis in five key charts | BusinessRead More

Coronavirus crisis ‘creates an opportunity’ for business

Levi Strauss CEO Chip Bergh on Monday sounded an optimistic tone for the iconic jeans manufacturer post-coronavirus pandemic, given the company’s underlying financial condition. “I fundamentally believe, through this crisis, strong brands are going to emerge from this stronger than ever,” he said in a “Mad Money” interview. “I like to say that crisis creates an …

Coronavirus crisis ‘creates an opportunity’ for businessRead More

Retailing in a Time of Crisis: A World Retail Congress Publication

It seems incredible that barely a month ago, retail’s focus continued to be around how to embrace the change being brought about by the digital revolution. And then came COVID-19 which hit China in January and then in a matter of weeks swept through Asia to Europe and the Americas connecting all countries of the …

Retailing in a Time of Crisis: A World Retail Congress PublicationRead More

‘This is an economic crisis’: why the pandemic could spell the end for British fashion | Fashion

The future of Britain’s fashion industry is in severe doubt due to the global pandemic, with 35% of young and upcoming designers looking as if they will not be able to continue their businesses past the summer. The findings, from the British Fashion Council (BFC) also predict that half of the entire industry could cease …

‘This is an economic crisis’: why the pandemic could spell the end for British fashion | FashionRead More

WH Smith raises £166m to shore up finances during Covid-19 crisis | Business

WH Smith has successfully raised almost £166m from investors after launching an emergency cash call to shore up its balance sheet while the majority of its shops remain closed during the coronavirus crisis. The retailer managed to place 15.8m shares at 1050p per share, representing a discount of 4p on the previous day’s closing share …

WH Smith raises £166m to shore up finances during Covid-19 crisis | BusinessRead More

Cath Kidston the latest to prepare for administration amid coronavirus crisis

A notice of intention to appoint administrators means Cath Kidston would be granted 10 days of breathing space and protection from creditors. // Cath Kidston places administrators from Alvarez & Marsal on standby // The retailer had already been undertaking an urgent review and was urgently seeking a buyer // The sale process was still …

Cath Kidston the latest to prepare for administration amid coronavirus crisisRead More

PlayStation and Moonpig’s UK sales soar amid virus crisis | Business

Spending on PlayStation more than doubled in March, while local convenience stores such as Nisa and Costcutter recorded a surge in sales, according to the online bank Revolut. But JD Wetherspoon, the pubs chain, was among the biggest losers in the UK. Revolut’s customers are likely to be younger and slightly more urban than account …

PlayStation and Moonpig’s UK sales soar amid virus crisis | BusinessRead More

Retail stock winners — traders pick five names to weather the crisis

Retail stocks are among the biggest losers in this month’s market sell-off. The XRT retail ETF has fallen 25% in March, its worst month on record, with stocks such as Macy’s, Kohl’s, Guess and Nordstrom leading the decline. Wells Fargo turned bullish on one corner of the retail trade on Monday, upgrading Nike, Ulta Beauty, Canada …

Retail stock winners — traders pick five names to weather the crisisRead More

Congress must do more to address serious retail crisis

Many U.S. retailers are facing a financial shock from the coronavirus that has yet to be fully addressed by Washington lawmakers, L.L.Bean CEO Stephen Smith said Monday.  “I think it’s a really serious situation, and I actually don’t think it’s getting enough attention,” Smith told CNBC’s Courtney Reagan on “Power Lunch.”  Smith said his concern was concentrated …

Congress must do more to address serious retail crisisRead More

The firms that have turned Covid-19 crisis into a chance to serve | Money

I’ve spent the last 22 years delving into the murkier corners of big business for my Your Problems column. It can be dispiriting work. The daily laments from customers have persuaded me that if corporate Britain has a conscience, it’s been smothered by terms and conditions that stack the odds in favour of traders. When …

The firms that have turned Covid-19 crisis into a chance to serve | MoneyRead More