Unilever has withdrawn its full-year forecast, feeling it cannot reliably estimate the consequences of the corona pandemic. The FMCG giant's first quarter turnover rose slightly.
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Private equity fund Sycamore Partners is trying to get out of its acquisition deal with L Brands, to take over a 55 % stake in lingerie brand Victoria’s Secret. The named reason/excuse is the fact nearly all stores are closed due to the corona crisis.
Coca-Cola has warned its turnover in the second quarter may be hit hard by the corona crisis. Its sales in April have gone down by a quarter.
People seem to be drinking less during the corona crisis: Heineken's sales volume decreased by 14 % in March, resulting in a volume decline of 2.1 % for the quarter as a whole. And still, the beverage group believes the second quarter will be even tougher.
The Covid-19 pandemic increases the demand for contactless shopping and for self-scanning. That is why British supermarket chain Asda is rolling out its mobile self-scanning system 'Scan & Go Mobile' to all its 581 stores.
The coronavirus outbreak, especially in China, has a major impact on luxury group Kering: the Gucci owner saw turnover drop 15.4 % in the first quarter. Nevertheless, the fashion house is already seeing signs of recovery.
Stores in various European countries (like Austria, Czechia and Germany) are gradually allowed to reopen. Where are shops resuming their activities and in which countries do they remain closed? An overview of the measures taken throughout Europe.
Danone fares well under the current confinement: in March, sales increased by 5 to 10 % thanks to consumer stockpiling. In its first quarter, the group recorded a 3.7 % sales increase on a comparable basis. Belgian subsidiary Alpro is even struggling to meet demand.
The coronavirus crisis has a bitter taste for Le Pain Quotidien: the bakery chain urgently needs to find a buyer for its restaurants in the United Kingdom. As for the United States, all of its thousands of employees have been laid off.
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The coronavirus has caused an unprecedented turnover drop at fashion discounter Primark. As the chain has no webshop and all physical stores are closed, its monthly sales have dropped to literally zero euros.
Fnac Darty is the first large French company to receive state aid to weather the coronavirus crisis. The electronics and multimedia group borrowed half a billion euros with a state guarantee.
Ikea has stated it hopes to reopen its European stores from the end of April. In the meantime, the chain is offering advice by video conference in Belgium. The coronavirus crisis has already cost the Swedish company 60 % of its turnover.
In the exceptional context of the corona pandemic, Carrefour is taking a number of remarkable measures: savings on management salaries are releasing budgets for solidarity actions. Moreover, the company's dividend will be halved.
The British competition watchdog CMA has given Amazon the go-ahead to invest in Deliveroo, to avoid the possible bankruptcy of the meal delivery company because of the coronavirus crisis.
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German discount chain Aldi is finally getting into e-commerce: in the United Kingdom, the discounter will offer boxes with 22 "essential" products online throughout the coronavirus epidemic.
German fashion webshop Zalando has had to admit a (preliminary) loss for this year's first quarter. The company now wants to speed up its platform and support its partners more.
Greenyard is running at full speed: sales have risen sharply due to the high demand during the coronavirus pandemic and profits are also improving, the Belgian vegetable processor reports in an intermediary update.
The Covid-19 pandemic has cost French luxury group LVMH 15 % in revenue in its first quarter. Most shops and production facilities are closed, but owner Bernard Arnault remains positive. He has waived his salary to set an example.
Instagram has introduced new 'stickers', that direct users to a website where they can order food or gift vouchers. In this way, the social network wants to help retailers and small businesses during the corona crisis.
The worst of the corona pandemic appears to be over in China, and experts expect a full recovery in retail in the second half of the year. What can we learn from this evolution?
Belgian luxury handbag producer Delvaux is opening its own webshop today. The company long resisted e-commerce, but its hand was forced by the corona crisis and the mandatory closing of its physical shops.
A storm of protectionism is blowing across Europe, now that the Covid-19 crisis is hitting trade and food production hard. Each country is dealing with the situation differently, not always abiding by EU regulations.
German sports giant Adidas has been granted a three billion euro loan from the German government, in order to enable it to survive the impact of the coronavirus. In return, however, the company will temporarily not be allowed to pay dividends.
A global scandal has erupted after a McDonald's in the Chinese city of Guangzhou banned people of African descent from its restaurant. McDonald's China has apologised, but tensions in the city continue to rise.
E-commerce giant Amazon will completely close its French distribution centres for a week, This decision follows a court ruling prohibiting the online retailer from selling products other than those deemed essential, as it would not take sufficient measures against Covid-19.
Closed stores and stock that cannot be sold: the havoc that corona will wreak in the fashion retail is becoming increasingly apparent. New studies now predict which chains will be the first to fall...
A French judge has limited Amazon to selling essential goods only, as long as the company cannot guarantee the safety of its employees in the distribution centres.
The measures that most governments have now taken against the spread of the coronavirus, have a terrible effect on fashion retailers. A stress test by McKinsey yields rather alarming results: 90 % of fashion retailers face serious threats from the corona crisis.
Despite the fact that many physical stores are closed or limited, German online sales in March were 20 % lower than a year earlier. There are, however, huge differences between different sectors.
The current crisis is forcing us, retailers, to take a break and look in the mirror: are we still relevant, do we still see opportunities, do we still want to invest, do we still feel the drive to get back to work?
Amazon has decided to delay its annual discount day Prime Day due to the corona crisis, a decision that may cost the company some 300 million dollars (270 million euros).
Ahold Delhaize's non-food webshop bol.com is due to open its French version in June, starting its offensive in Brussels and Wallonia. On its annual general meeting, the Dutch retail group also approved a prolonged Belgian presence in its supervisory board.
Ready-to-wear giants Primark and H&M promise continue to pay textile workers in Bangladesh, even though they are cancelling their orders because of the coronavirus crisis. They do so to support the badly affected country.
Stockpiling consumers have boosted Tesco's turnover by 30 %, but the coronavirus crisis also costs the British supermarket chain nearly a billion euros. The retailer was doing better last year, but now the coronavirus threatens to undo all that good work.
Asos wants to raise more than 200 million pounds (230 million euros) with a new share issue, following the announcement of strong half-year figures. During the corona crisis, however, sales fell by almost 25 %.