More British shoppers returned to the high street in July, helped by the reopening of pubs and restaurants, but numbers were still much lower than normal for the time of year, an industry survey showed on Friday.
Sales at Maybelline maker L’Oréal fell more sharply than expected in the second quarter, though the French beauty giant managed to contain any major profit erosion as the COVID-19 pandemic forced stores to close.
French luxury group Kering's Q2 comp sales plunged by 43.7% due to the coronavirus. Gucci comp sales fell 45% and Saint Laurent 48%, but recovering Bottega Veneta contained the drop in revenue to only 24.4%
LVMH, the world’s biggest luxury goods group, said sales momentum picked up in June and had especially improved in China, after store closures sparked by the pandemic tore a hole in the Louis Vuitton owner’s Q2 sales.
Already dominated by Popshop Live and Amazon Live, the video shopping market has recently gained a new contender, and it's a heavy hitter: Google has entered the ring with Shoploop, its own dedicated mobile app.
Harvey Nichols is the third big name in just a couple of days to be mulling job cuts in the near future. The company is looking at removing roles from all of its stores, although it's trying to minimise the impact.