By Andrew Asch | July 7, 2020
New high-end bricks-and-mortar retail is scheduled to open in Southern California this fall.
After weeks of being required to shut down operations because of the COVID-19 pandemic, boutiques and independent shops were given the green light on May 27 by Los Angeles Mayor Eric Garcetti to reopen.
Purchasing summer clothing is creating some bright spots in the economic gloom caused by the COVID-19 pandemic, according to data released by The NPD Group on May 28.
Inside the Industry
After more than six weeks of being required to shut down operations because of the COVID-19 pandemic, boutiques and independent shops were given the green light to reopen on May 27, announced Los Angeles Mayor Eric Garcetti.
Retail sales in the United States for April dropped 16.4 percent compared to March. April sales declined 21.6 percent in a year-over-year comparison, according to numbers released by the U.S. Census Bureau.
Inside the Industry
The COVID-19 crisis is forecasted to make major changes in the retail business, and, when the dust from the crisis settles, some of the entrepreneurs best positioned to start over and make a connection with consumers will be independent retailers, according to a handful of industry watchers.
The COVID-19 crisis has pushed prominent apparel-industry names such as Neiman Marcus and J. Crew Group, Inc. into bankruptcy and, recently, another big brand fell victim to the crush of the coronavirus. The John Varvatos menswear brand filed for voluntary Chapter 11 bankruptcy in U.S. Bankruptcy Court in District of Delaware.
As the COVID-19 pandemic drags on, more prominent retailers continue to be hit by the pandemic’s economic freeze. As the COVID-19 pandemic drags on, more prominent retailers continue to be hit by the pandemic’s economic freeze.
Retailers are navigating between seemingly conflicting messages from California Gov. Gavin Newsom and Los Angeles Mayor Eric Garcetti on when they can reopen.
Fashion brands and retailers have closed stores, furloughed staff and made SOS calls during the past six weeks, due to the COVID-19 pandemic. On May 4, J. Crew Group, Inc. became the first United States-based retailer to file for a Chapter 11 bankruptcy due to the effects of the coronavirus on retailers.
After 14 years of growing its e-commerce platform to include more than 1 million businesses, Shopify is expanding to include a consumer-facing component.
Ross Stores, Inc.’s fleet of 1,566 off-price apparel emporiums are temporarily closed because of the COVID-19 pandemic, but the Dublin, Calif.–headquartered retailer’s philanthropy is active.
Gap Inc. disclosed that it was taking a number of extraordinary measures to stay afloat during the COVID-19 crisis.
Former Walmart Exec To Lead eJamie Iannone, chief operating officer of Walmart eCommerce, was recently named chief executive officer of digital commerce pioneer eBay Inc.