The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
AMSTERDAM, The Netherlands — Hudson's Bay will close its Dutch stores on December 31, the union that represents its workers in the Netherlands said on Thursday.
Hudson's Bay could not immediately be reached to confirm the closure of the 14 stores.
The CNV Union said 1,424 employees had been informed of the company's decision on Thursday, and added that severance packages were "respectful" to the people whose jobs would be lost.
"We've seen other retailers in the past just pull the plug and let themselves be declared bankrupt," said Jacqueline Twerda in a statement.
ADVERTISEMENT
Earlier this week the Canadian retailer reported a second-quarter net loss from continuing operations of C$462 million, worsening from a C$104 million loss a year earlier, amid falling same-store sales, and store closures.
By Toby Sterling; editor: David Evans.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.