As fashion bellwether Next reports a “faster and steeper” fall in sales in the wake of the coronavirus outbreak than expected, how is the retailer adapting to tough conditions afflicting the whole industry?
The Covid-19 pandemic has brought unprecedented disruption worldwide and retailers are confronting catastrophic trading conditions.
Fashion giant Next’s trading update today was one of the most detailed and extensive responses so far to the impact of the emergency and likely repercussions.
Next chief executive Lord Wolfson tells Retail Week: “What we’re experiencing at the moment is a unique historical event. We’ve never had a pandemic in a modern, global economy.”
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