Just days after their Belgian counterparts, the Dutch constituents of FNG have also been declared bankrupt. According to the fashion group, its chains like Miss Etam, Expresso and Claudia Sträter will stand a better chance of a second life this way.
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The conflict between eyewear groups EssilorLuxottica and GrandVision is escalating: both are taking ever more drastic steps against their adversary in order to bend their "marriage" to their advantage.
Ceconomy (the former Metro branch that owns electronics chains Media Markt and Saturn) has announced a thorough restructuring, which may cause up to 3,500 jobs being cut and several stores closed all over Europe.
The end game has begun for FNG: seven candidates would be interested in acquiring parts of the Belgian fashion group, which has reopened its stores in order to clear the current stocks.
The coronavirus crisis has given wings to Ahold Delhaize: the supermarket group achieved a 16 % rise in turnover this quarter, while doubling its profits. The current pandemic caused a 78 % increase in online sales, causing the group to revise its full-year forecasts upwards.
Over the past six months, EssilorLuxottica (Ray-Ban, Varilux) has seen its profits evaporate almost completely. In the meantime, the planned merger with GrandVision has led to a war between the two parties.
Uniquely among the main fashion brands, Spanish Mango is positive about the first half of 2020. Despite the measures to stop the spread of Covid-19, the chain did not suffer significant turnover losses in important European markets.
Coffee and tea giant JDE Peet's saw the drop in out-of-home coffee consumption compensated by a rise in home consumption, where customers seem to prefer more expensive coffees.
Outdoor group VF Corp, owner of brands like The North Face and Vans, saw its turnover halved last quarter, but is very optimistic about the long-term future as outdoors, sustainability, casual wear and digital sales are on the rise.
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Even before Belgian fashion group FNG was declared bankrupt this morning, the banks have blocked its wages: it is possible employees have worked for nought last weekend.
The Belgian summer sales period suffered from the resurgence of Covid-19 and subsequent measures: its first-day turnover was only half that of last year.
Comparable sales went down more than 40 % at French luxury brand Hermès, which felt obligated to emphasise that the crisis is not over yet.
Cosmetics lose their importance during lockdowns: L'Oréal's turnover went down more than expected, while profit dropped as well.
Amazon reached its highest profit ever thanks to the Covid-19 pandemic: it sold 40 % more than the year before, enabling profit to double to 5.2 billion dollars (4.4 billion euros).
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Value products at Carrefour are given a new, more modern, brand identity: 'Simpl'. Products with the new branding will gradually appear on the shelves.
Even though Belgian restaurants, bars and non-food stores have been allowed to reopen for a long time, consumption has not yet recovered to pre-lockdown levels.
Dutch suit maker SuitSupply has improved dramatically from last year: its net loss is almost gone, and it found new capital to continue growth.
Mango is going to share part of its revenues from e-commerce with its franchisers as they "are undeniably responsible for the significant growth of the online business", the Spanish fashion group says.
AB InBev has suffered a huge downturn in beer sales last quarter, due to the measures to stop the spread of Covid-19. Profits went downhill even faster for the world's largest brewery group, which also had to admit a huge impairment in Africa.
Belgian fashion group FNG has filed for bankruptcy, as it was unable to find investors in time. The bankruptcy does not involve all of FNG's activities, however: the Dutch branch asks for protection against creditors, the Scandinavian branch is completely unaffected.
Saving shops is not a noble cause, but a lost one: retail units are better converted into homes, according to a British think tank, because they are doomed to disappear anyway.
Amazon Fresh, the online giant's grocery service, is now available free of charge to Prime-members in London. The service will be rolled out across the United Kingdom by the end of this year, as the coronavirus creates momentum for online food sales.
French luxury group Kering, owner of Gucci and rival to LVMH, saw its sales drop by 44 % in the past quarter. Despite the first signs of recovery after the lockdowns, especially in China, the second half of the year remains uncertain.
Helped by strong growth figures in Belgium, Spain and Brazil, French hypermarket chain Carrefour ended the first half of the year with results that were better than expected. The group is focusing even more strongly on cost savings in order to increase profitability.
Luxury is one of the worst hit sectors by the covid pandemic, as proven (again) by LVMH's half-year results. Turnover went down 27 %, net profit even 85 %.
Dutch supermarket chain Albert Heijn is expanding home deliveries of online orders to Belgium, nine years after opening its first store there and just a day after launching its Belgian app. The expansion starts in nine municipalities in the Antwerp region.
In response to the rising number of Covid-19 cases, the Belgian government has decided to adopt strict rules when it comes to shopping. 'Fun shopping' is banned: store visits need to be done with a face mask, alone and for maximum half an hour.
French retailer Carrefour and Uber Eats have extended their grocery delivery collaboration beyond France. Two Belgian cities will also take part in the pilot, which promises delivery within 30 minutes.
A few years after expanding to Belgium, Dutch chain Albert Heijn has now also launched its app in Belgium, showing customers recipes and discounts.
The Yoox Net-a-Porter Group and Armani have announced they will extend their collaboration: in better connecting online and offline, they want to improve the shopping experience for their customers.
Ten years of legal battles end in a defeat for Milka (Mondelez): German Ritter Sport is now the only brand that is allowed to produce square chocolate bars.
This weekend, electric car brand Polestar opens its first Spaces in the Benelux. 'Spaces' are not simply stores: buying a car is impossible, rather they are inspirational places with a digital focus.
Aldi calls on its suppliers to reduce their carbon footprint. Aldi Nord has published its third sustainability report, and raised its climate targets at the same time.
Walmart has resumed its attempts to sell its British subsidiary Asda, which it had paused because of the coronavirus crisis. The American retail giant says however that a positive result is not guaranteed.
The Belgian government is enforcing the wearing of face masks in shopping streets, starting this weekend. The Netherlands are still divided over the issue, despite the dramatic resurgence in the number of Covid-19 cases.