Space NK's reopenings could take some time and key stores in central London are likely to remain shut for the foreseeable future. Instead, reopening high street stores near upmarket residential areas will be the focus.
The American cosmetics retailer announced a 32.7% decrease in Q1 sales on Thursday, leading the company to topple into loss as disruptions related to the ongoing Covid-19 pandemic took their toll on its operations.
Private-equity controlled German perfume retailer Douglas said on Wednesday it hopes to be able to make it through the coronavirus pandemic without state aid, even though it expects an ongoing hit to sales.
As the beauty retailer promises to take a measured approach to reopening its physical stores in the U.S., it is also looking East to make up lost revenue, complementing its retail fleet in China with a new Tmall store.
Less than two weeks after Hammerson said Next would be opening beauty halls in five vacated Debenhams spaces in its malls, two of the biggest have been taken off the list. But a further 10 could be added.
Richemont mixed good news with bad on Friday as it delivered its full-year results, with the giant luxury group reporting resurgent demand in China on the reopening of its stores, but also a profits plunge.
The perfume maker has announced a 46.8% decline in Q1 net income, due to hefty sales declines in the Middle East and Asia early in the quarter, followed by decreases in other markets as the coronavirus pandemic evolved.
The NYC-based cosmetics conglomerate announced an 18.1% decline in its first-quarter revenues on Monday, as store closures related to the Covid-19 pandemic left a significant dent in the company’s sales.