Some fashion retailers wondering how their businesses will recover after the coronavirus crisis eases might be cheered up by a study that shows more younger consumers expect to get back to normal quickly.
British retailers suffered their biggest fall in sales since the 2008 financial crisis in the first half of April as the coronavirus kept shoppers at home and forced store closures, the CBI said on Tuesday.
M&S is to unveil a "never the same again strategy" next month as it accepts that its fashion business will stay weak for the rest of the year and it reaches a deal to ensure it has the cash to see it through the crisis.
The designer brand has released a video featuring spoken word artist Kai Isaiah Jamal to celebrate a new partnership with Canopy, a non-profit organisation dedicated to protecting forests, species and the climate.
Marks & Spencer is donating thousands of T-shirts bearing the message “We are the NHS” to dress staff and volunteers at temporary hospital NHS Nightingale London. And over 4,000 pyjama sets will be donated as scrubs.
Thursday’s decision by Next to close its online retail operation temporarily could be a tipping point, an analyst said, with more retailers likely to follow suit as they respond to worker concerns over social distancing.