A big reason for this is that H&M trimmed down its retail shop locations by closing 140 stores last year, and will continue this strategy, reducing its anticipated store openings this year from 175 to 130. Photograph: Liam McBurney/PA The owner of Zara will close as many as 1,200 stores around the world as the clothing retailer tries to boost online … By . … Mary Hanbury. It will instead focus on expanding its larger stores. Check out our list of businesses in Malaysia that have been forced to shut their doors due to the COVID-19 pandemic. This article is now fully available for you, Please verify your e-mail to read this subscriber-only article in full. Soon after, Gap Malaysia revealed that they’re closing down their other branches as well – in Gardens Mall and 1 Utama. On Wednesday afternoon/evening, Spanish retail behemoth Zara announced that its Canadian stores had closed indefinitely. Read more at The Business Times. Montreal-based fashion brand Le Chateau also announced temporary store closures. Here was the official MyTOWN statement on ZARA’s COVID-19 exposure : We have recently been notified by one of our tenants, ZARA that one of their staff tested positive with COVID-19 on 16 Dec 2020. H&M recorded a loss of RM1.4 billion This decision comes […] LONDON: Around 1,200 high-street Zara fashion stores will be closed worldwide - a decision by the owner, Inditex, to boost online sales during the Covid-19 pandemic. The exact affected locations have not yet been announced. Law Awareness Week 2020. Enter now and discover all the coats of the new collection at ZARA. 2020-06-10T11:39:48Z The letter F. An envelope. Despite tumbling sales, inventories still fell by the end of the February to April first quarter compare to a year ago, underscoring Inditex's ability to respond to demand. Inditex has been hit hard during the pandemic, booking a net loss of 409 million euros for February through April compared to a net profit of 734 million euros for the same period last year. Loose-fitting long sleeves with cuffs. Read more at The Business Times. Under the Covid-19 epidemic, the retail industry was hit hard. "After conducting an exhaustive review of strategic alternatives, we were determined that filing [for bankruptcy protection] is in Aldo's best interest to preserve the company for the long term and survive through this challenging period," he added. Dundee’s High Street is set to lose one of its most recognisable stores. The decision was made to focus their resources at the time and has nothing to do with anything else, says Gap. PROFITS DOWN Inditex, the parent company of Zara and Massimo Dutti among other brands, is closing between 1,000 to 1,200 stores over the next two years. Malaysia Airlines might have to shut down if it is unable to restructure the company quickly. Follow our live coronavirus updates here. The company said it expects online sales to account for a quarter of its business by 2022, up from 14 per cent in 2019. H&M Group CEO Helena Helmersson noted: "It is clear that the rapid changes in customer behaviour caused by the pandemic will further speed up the digitalisation of fashion retail.". Zara's owner says it will close as many as 1,200 stores as it doubles down on online shopping . Siti Hawa | June 11, 2020, 02:01 PM . The total store count will fall from 7,412 to between 6,700 and 6,900, which will also include the opening of 450 new shops. The gift link for this subscriber-only article has expired. All done! One of the fastest growing fashion stores might be closing one Australian shop Robinsons, among other department store operators globally, has continued to feel the effects of the Covid-19 pandemic, especially in terms of store sales relative to … Sunday, 15 Mar 2020 11:31 AM MYT. The Spanish apparel retailer intends for online sales to make up a quarter of sales by 2022. Pleated detail. Find new arrivals, fashion catalogs, collections & lookbooks every week. The well-known Canadian footwear brand, which has over 3,000 stores in about 100 countries, said the measures were taken due to the coronavirus pandemic which had shut its outlets amid lockdowns. We have been experiencing some problems with subscriber log-ins and apologise for the inconvenience caused. Jackets and coats for boys must be comfortable, hard wearing and flexible. Owner Inditex said sales had tumbled by a quarter in first two weeks of March The Malaysian National Security Council has just shared their answers to many frequently asked questions about the COVID-19 lockdown for Malaysia! To cut its losses, Guess has retrenched employees and significantly reduced the salaries of management. NEW / +3 Colours. Once the inventory has passed the prime time to sell, the goods are typically marked down. Image via Aiman Amerul Muner/Malaysiakini. Closing Down All Outlets in Malaysia By End of June! Discover seasonal pieces in a range of styles and fits, updated weekly. Zara owner Inditex said it will close 1,000-1,200 stores worldwide over two years and focus on digital growth. FACED with a challenging retail environment, the Al-Futtaim group will continue to close stores in Singapore, but expand its footprint elsewhere in promising Asian markets. UPDATE: MPH Group is closing certain stores because it is moving towards digitalising its business. By registering, you agree to our T&C and Privacy Policy. MADRID (BLOOMBERG, REUTERS) - Zara owner Inditex said it is permanently closing as many as 1,200 stores - 16 per cent of it's outlets worldwide - as the world's largest fashion retailer moves to boost online sales after posting its first-ever loss due to the Covid-19 pandemic. H&M has announced that it is closing 170 stores worldwide this year. Among other brands closing some of their stores overseas include GAP, Guess, La Senza, Aldo, and Muji. They can read the article in full after signing up for a free account. MADRID (BLOOMBERG, REUTERS) - Zara owner Inditex said it is permanently closing as many as 1,200 stores - 16 per cent of it's outlets worldwide - as … US clothing retailer Gap has stated that it will close five of its eight stores in Hong Kong. Pos Malaysia presents brand new national definitive stamps featuring our Iconic Marine Life. for all orders placed between 15.11.2020 and 04.02.2021 the timeframe for returns is extended till 06.03.2021 This has led many people to wonder about the details. ZARA TINDALL, 39, is the daughter of Princess Anne, 70, and granddaughter of Queen Elizabeth II, 94. Larger stores will become distribution hubs for online sales, as well as places that customers can browse and buy products. “We continue to be concerned about … MPH Bookstores has a long and storied history in Malaysia. Get unlimited access to all stories at $0.99/month for the first 3 months. Two of the largest retailers in fast fashion, H&M and Inditex (Zara parent company), both have a … According to a survey by Berita Harian, KR1M outlets in the country's capital city and in other states have closed down after they were issued a notice on Monday, 18 September. If you don’t like our faces, listen to our fortnightly podcast E-Junkies where we lepak one corner with famous people, Your daily good stuff - AsiaOne stories delivered straight to your inbox, AsiaOne Online Pte Ltd. Company Registration No. 05 October 2020 - … Zara’s owner says the pandemic has had a ‘very significant impact’ on its operations. Send with us. Inditex has already been closing smaller outlets, while opening a few larger stores. It also plans to drive its online business and turn its attention to online sales. Spanish group Inditex, which owns Zara as well as Pull & Bear and Bershka, said it had been forced to temporarily close stores in 39 countries after Covid-19 had a "very significant impact" on sales. The Swedish fashion brand reported a 50 per cent drop in sales during the second quarter of 2020 due to stores being closed during lockdowns worldwide. But a log-in is still required for our PDFs. Visit our Social Responsibility section. Latest trends in clothing for women, men & kids at ZARA online. The closures are expected to be concentrated in Asia and Europe, and affect mainly smaller stores and Inditex brands other than Zara, such as Pull&Bear, Oysho and Stradivarius, the Spanish company said on Wednesday (June 10). Instead, it will be shifting its focus to its online business in wake of the ongoing pandemic. Until we resolve the issues, subscribers need not log in to access ST Digital articles. Ikea announced Wednesday morning that it was closing its Canadian stores temporarily amid the outbreak and that workers would be paid. In April, Esprit announced it would close all 56 retail stores in Singapore, Malaysia, Taiwan, Hong Kong and Macau by the end of its financial year on Jun 30. 239.00 RM. According to some commenters, the Gap store in Queensbay Mall was officially closed on 4 February, while the one in Pavilion KL was on 7 February. 3-min read. Anaphylaxis and other Covid-19 vaccine side effects: Should I be worried? Zara owners closing nearly 4,000 stores worldwide amid coronavirus crisis. While retail businesses are gradually reopening their physical stores after months of closure due to the coronavirus pandemic and subsequent lockdowns, some have unfortunately been unable to recover and are shuttering permanently. Store opening and closing is part and parcel of doing business. Shoppers queue to enter the Robinsons department store at the Heeren in Singapore on 30 Oct, 2020. Inditex, which also owns other brands like Massimo Dutti, Pull & Bear and Bershka, will focus on large stores and online sales instead. Zara clothes store could shut in major shopping centre creating uncertainty for the fashion brand. So of course when I went to the first day of Zara’s closing down sale, I picked up two black dresses that had been reduced from £15.99 to £9.99. Zara plans to close more than 1,000 stores to focus on e-commerce The Spanish clothing retailer is shifting its focus to online shopping amid the coronavirus crisis. Apparently, the brand had actually shut down their other stores overseas for a very long time. She has a close relationship with members of her family, a … Photo: Getty Images Financial situation comes to a head. The challenge and the promise of the post-Covid-19 economy, Macy's to shut 125 stores, cut 2,000 jobs over 3 years. The secret’s out, all ESPRIT stores in Malaysia are closing down by 30th June. Well known Spanish fashion retailer, Zara is closing most of its stores across the globe. According to The Malaysia Singapore Coffeeshop Proprietors’ General Association (MSCPGA) and Malaysian Muslim Restaurant Owners Association (Presma), over 2,000 coffee shops and mamaks in the country have shut down permanently since the implementation of the MCO in March. robinsons to close malaysia stores Two Robinsons outlets in Malaysia - Shoppes at Four Seasons Place and The Gardens Mall - will also undergo a similar liquidation process. "The whole industry has been affected by the global crisis. Zara owner closing up to 1,200 stores worldwide following Covid-19 loss. Image via MyTown Shopping Centre. American clothing brand Guess plans to close around 100 stores across the globe, as sales have taken a hit due to the ongoing pandemic. Pick out this season's ultimate outerwear for men at ZARA online. 9 Dec 2020. The cash-rich owner of other fashion brands like Massimo Dutti and Bershka, said the rapid drop in sales had slowed, with sales at constant currencies falling 34 per cent in the June 2-8 period over a year earlier, versus a 51 per cent slide in May. Malaysia Airline’s financial woes date far back from the current crisis. Need something delivered? "As a normal course of business and similar to other retailers, we periodically review our real estate portfolio, to open or close stores accordingly to ensure we have the right stores in the right places to best serve our customers," Gap told South China Morning Post. Available at stores and online in Malaysia while stocks last. Zara's owner Inditex will close 1,200 stores worldwide by 2021, due to losses from the closure of its stores over the coronavirus crisis. This is forcing us to look at the contribution all markets make to the group's performance," said Anders Kristiansen, CEO of Esprit. The total store count will fall from 7,412 to between 6,700 and 6,900 after the reorganisation, which will also include the opening of 450 new shops. Inditex said that "headcount will remain stable", with staff offered roles in other jobs such as dispatching online purchases. June 16, 2020, 9:04 PM UTC KUALA LUMPUR, Oct 30 ― Robinson Co (Malaya) Sdn Bhd is set to close its two department stores in Malaysia and start the liquidation process following its inability to continue operations due to weak demand. We are continuing to advance in our commitment to become a sustainable company. Brands after brands are downsizing or even closing down for good after Covid-19 has impacted their sales. STRIPED POLO … As of now though, it is still unclear if Singapore stores are affected. Similarly, Zara closed 355 stores last year and is set to close another 250, although the Spanish brand does plan on opening 300 more. All rights reserved. From the majestic Whale Shark to the Small Giant Clam, these five sea creatures play an essential role in preserving our marine ecosystem. BY AZRIL ANNUAR. Coronavirus shutdowns leave travellers stuck in airport terminals. People of all nationalities stuck in Malaysia airport with few options after being denied entry to other countries. Join ST's Telegram channel here and get the latest breaking news delivered to you. PREMIUM HOODIE. "We were making strong progress with the transformation of our business to tackle these challenges; however, the impact of the Covid-19 pandemic has put too much pressure on our business and our cash flows," said David Bensadoun, CEO of Aldo. com Malaysia; Mosque in Shah Alam closed in Covid-19 shutdown. We have a wide variety of domestic and international shipping options to choose from. our stores are temporarily closed, but we’re still here for you at zara.com. While there’s zero chance of enjoying any closing down sale at the stores, the brand will probably still be around in Malaysia as the company will continue to operate wholesale and licensing businesses. Enter your email address here. A mosque in Seksyen 27 Shah Alam has been temporarily shut for all prayer times. It seems that several MPH Bookstore outlets in Malaysia are closing down their businesses. Enjoy discounts up to 70% on men apparels, ladies apparels, kids apparels, fashion accessories and many more. Inside Retail Asia reports that the decision was made following an “appalling slump†in sales over the last 9 months, which was further crippled by the pandemic hit economy in March. 259.00 RM. Singapore is one of the affected countries, alongside Malaysia, Hong Kong, Macau and Taiwan. On why it is closing the store, the spokesperson said, "The retail market is very dynamic. NEW / +1 Colour. COVID-19 is leaving Burnaby shoppers with fewer fashion options as more local stores are going to be shutting down soon. You have reached your limit of subscriber-only articles this month. The airline had been operating at a loss for a while and expected to need nearly $5bn to continue operations until 2025. This will accelerate over the next two years as the Spanish company doubles down on e-commerce, investing 1 billion euros (SGD 1.58 billion) on its online platform over the next three years. Girls. And you'll be surprised by the big names on the list of physical store closures worldwide, as it may be unthinkable that they would be facing financial issues. The closures are part of the company's restructuring initiatives to focus resources and recalibrate operations amid the pandemic, according to the company. In April, clothing company Esprit announced the closure of all its Asian stores by June 30, with the exception of stores in China. This isn't the first Gap store to be closed in Malaysia recently, as the ones in Pavilion KL and Queensbay Mall suffered the same fate as well . Malaysia Prime Minister Muhyiddin Yassin announced the COVID-19 lockdown for Malaysia in broad strokes. Eunis Ong. It is also spending 1.7 billion euros on upgrading its stores and further integrating them with its digital platform. Read the full story here. Zara is the largest fast fashion label in the world run by the Spanish Inditex group. The latest victim. The owner of Zara has closed 3,785 stores globally following the outbreak of coronavirus. Zara's owner Inditex will close 1,200 stores worldwide by 2021, due to losses from the closure of its stores over the coronavirus crisis. ZARA owner Inditex said it is permanently closing as many as 1,200 stores - 16 per cent of its outlets worldwide - as the world's largest fashion retailer moves to boost online sales after posting its first-ever loss due to the Covid-19 pandemic. The collection - which includes styles such as bomber jackets, trench coats, padded, parkas, raincoats and waterproof coats - ticks every box and delivers everything in style.The outerwear collection is both trendy and versatile, ensuring boys can still have fun and feel great while wearing something functional. Zara owner Inditex said it will close 1,000-1,200 stores worldwide over two years and focus on digital growth. Its main rival is the Swedish group H&M. Boy. One of the fastest growing fashion stores might be closing one Australian shop CORDUROY PUFFER GILET. Despite no official announcement from the company, netizens from across the country have taken to social media to share that their neighbourhood outlets were closing. We first felt the impacts in Asia and now in Europe, where many of our stores have been closed. Embrace the latest fashion trends for men at ZARA online. Its main rival is the Swedish group H&M. Button-up fastening in the front. ZARA @ MyTOWN will only reopen on Saturday, 19 December 2020. Online sales surged 95 per cent during the global lockdown in April. NEW. No. Inditex, which also owns other brands like Massimo Dutti, Pull & Bear and Bershka, will focus on large stores and online sales instead. This figure is approximately 10% of all eateries in the nation, and the figure is expected to rise more as the … Zara is one of many fashion brands that had to close business due to the ongoing Covid-19 pandemic. Similarly, Zara closed 355 stores last year and is set to close another 250, although the Spanish brand does plan on opening 300 more. WE TAKE ACTION. Victoria Secret is planning to close 250 stores in the US and Canada permanently in the coming months. The mass closing of malls and offices along with the cancellation of celebrations and big events has been devastating, says the head of Harry Rosen, one of the country’s leading men's clothing retailers. In January, Gap announced about the closure of the outlets in the two other malls. The lingerie company's UK arm has already been placed into administration, putting its 25 stores and 800 jobs at risk. Woman. New clothes & accessories updated weekly. A big reason for this is that H&M trimmed down its retail shop locations by closing 140 stores last year, and will continue this strategy, reducing its anticipated store openings this year from 175 to 130. Zara shuts 3,785 stores worldwide as fashion chain suffers 'very significant' impact from coronavirus pandemic. Not only that, the apparel brand will also close all of it’s retail outlets outside of China. "The store is scheduled to close on Feb 2, 2020," the spokesperson said, adding that the store opened for business on March 16, 2017. Meanwhile, other labels like Esprit announced that it will be shutting down all of its Asian outlets, except for China. Read 3 articles daily and stand to win ST rewards, including the ST News Tablet worth $398. Events. Kedai Rakyat 1 Malaysia (KR1M) has started closing its stores across the country. This is after sales tumbled to 3.3 billion euros, down from 5.9 billion euros a year ago. Clothes retailers from H&M to Gap have reported a sharp drop in sales as shoppers hunkered down at home during global lockdowns to halt the spread of the coronavirus. The company also reported a quarterly loss of approximately US$1 billion (S$1.4 billion) in June. It will instead focus on expanding its larger stores. Short dress with a shirt collar. Zara clothes store could shut in major shopping centre creating uncertainty for the fashion brand. Our favourite malls and cities across the country will no longer be the same post-pandemic. Share gift link below with your friends and family. New In Man. Man. The fast-fashion giant’s sales are down 44% from last year. Reinvent your look with the latest in men's clothes, shoes and accessories. ... Clear close. Similarly, in June, Zara announced that it will be closing down 1,200 stores worldwide. This means that ESPRIT clothing lines will most likely still be around in department stores, multi-brand stores and even online. The discount does not apply to the new collection. The fast-fashion giant’s sales are down 44% from last year. INSTAGRAM; FACEBOOK; TWITTER; PINTEREST; YOUTUBE Zara, Nordstrom Join Growing List of Retailers Closing Stores amid Coronavirus Pandemic this link is to an external site that may or may not meet accessibility guidelines. Inditex's quarterly loss included a 308 million euro provision to close up to 1,200 smaller stores in 2020 and 2021, part of its shift to bigger stores. It's A Difficult Time For Businesses. Spanish group Inditex, which owns Zara as well as Pull & Bear and Bershka, said it had been forced to temporarily close stores in 39 countries after Covid-19 had a "very significant impact" on sales. Tap LEARN MORE and get it now! In May, it was reported that Aldo had filed for bankruptcy protection from creditors in Canada to stabilise the business. 198402868E. For all other lines, the discount will be equal or lower. In Malaysia… Retail giant Inditex de Diseño Textil – the name behind Zara and Bull&Bear chains – has temporarily closed 3785 stores in an effort to stem the spread of the virus. The aim is to transfer their profit contributions to bigger shops or online. But as we all know, Covid-19 has been one heck of a game changer for everyone and it looks like the apparel industry has been unable to escape unscathed either. Rival H&M warned it would make its first quarterly loss in decades in the March to May period. Inditex, the parent company of fashion retail stores like Zara and Bershka, will focus on boosting its digital presence instead. — Picture by Yusof Mat Isa . Maximum discount applied to the MANGO Woman collection. KUALA LUMPUR -- Malaysia could consider shutting down loss-making Malaysia Airlines, among other options, Prime Minister Mahathir Mohamad said on Tues Zara have 11 Irish locations Credit: EPA The high street global chain has 11 stores in Ireland, 7,412 worldwide, and is owned by Spanish multinational clothing company Inditex. Zara's owner is closing nearly 4,000 stores worldwide / REUTERS. The retail store is currently running clearance sales to clear out all their stock so if you want those last pieces of Gap clothing in Malaysia, you better quickly get it! 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