H&M , the world's second-biggest fashion retailer, said local currency sales had tumbled 57% since the start of March compared with a year ago as the COVID-19 pandemic and lockdowns kept most of its stores closed.
British clothing retailer Next said on Thursday it plans to open its first standalone beauty shops by taking space in five former Debenhams stores, seeking to diversify its offer into faster growing markets.
Global sales of luxury goods are expected to slump by 50% to 60% in the second quarter even as some countries begin to ease coronavirus lockdowns and despite signs of recovery in the Chinese market, consultancy Bain said on Thursday.
The chief executive of British Airways-owner IAG Willie Walsh said on Thursday that his personal was that the airline group should continue to have a presence at London's Gatwick Airport.
U.S. stock index futures jumped on Thursday as a surprise rise in Chinese exports spurred hopes of a faster economic recovery, even as investors braced for data likely to show millions more Americans filed for unemployment benefits last week.
Apple Inc said on Thursday that it was awarding $10 million to a maker of nasal swabs and other materials for collecting samples for Covid-19 tests in a move aimed at boosting the swab maker's production to 1 million collection kits per week by early July.
The United States said there was "no valid basis" for the European Union to retaliate against U.S. goods in a long-running subsidy row after Boeing lost state tax breaks, but the EU said it was pressing ahead with its demand for tariffs.
JetBlue Airways Corp on Thursday posted a $268 million quarterly loss due to the impact of the coronavirus pandemic on air travel and said it had revised its order book with Airbus SE to reduce its aircraft capital expenditures by $1.1 billion through 2022.
Air France-KLM is opening talks with its French unions on workforce cuts, Chief Executive Ben Smith told Reuters, as the airline group warned of mounting losses with no clear end in sight to the coronavirus crisis.
Samsung Group heir Jay Y. Lee's vow to end dynastic succession at South Korea's biggest conglomerate following three generations of Lee family control sparked skepticism on Thursday.
The U.S. government is sending millions of $1,200 checks out to Americans, some of whom have passed away. Now, the IRS has released instructions for how families of the deceased can return that money.
Millions more Americans sought unemployment benefits last week, suggesting layoffs broadened from consumer-facing industries to other segments of the economy and could remain elevated even as many parts of the country start to reopen.
A growing number of schools are freezing tuition in hopes of attracting more students and families now struggling with the weight of a college tab.
The "Shark Tank" investor also tried to look at the bright side: "So 80% are going to make it, in my view. That means it was a great investment."
JetBlue Airways Corp on Thursday posted a $268 million quarterly loss as the coronavirus pandemic hurt air travel demand, and revised its order book with Airbus SE to save $1.1 billion in aircraft spending through 2022.