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.
Following a legal spat which saw the Plano, Texas-based department store operator accuse the French beauty retailer of trying to back out of a long-term contract, the two companies have reaffirmed their partnership.
Debenhams’ loss is Next’s gain as it's to open a new standalone beauty concept in five soon-to-be-ex-Debenhams spaces owned by Hammerson. These are due to close after the department store failed to strike a rent deal.
After the department store chain accused the beauty retailer of trying to back out of a contract by not reopening its shop-in-shops when J.C. Penney stores open again, Sephora has hit back with a motion to dissolve.
Beiersdorf said on Tuesday that its super-prestige skincare brand la Prairie has taken a major hit on the back of the coronavirus crisis with the travel retail channel weak and likely to stay that way for some time.