Bernard Arnault, Europe’s richest man, has acquired a one-quarter stake in Arnaud Lagardère’s holding company, in a move that will be seen as an attempt to support the family of his fellow French billionaire.

Fashion may have struggled to gain traction with cautious consumers during the UK lockdown but one key group has been buying enthusiastically — students.

M&S has plans to hibernate some of its SS20 stock as it reveals a big sales hit due to the pandemic. But the firm is upbeat and says Clothing & Home is progressing, even though fashion retail will change post-crisis.

M&S could be the latest retailer to put part of its SS20 line into ‘hibernation’ until SS21. Ahead of its results announcement on Wednesday, it has emerged that basics and classics could be on store rails next spring. 

Denim specialist G-Star has put its Australian arm into administration with 57 shops and hundreds of jobs potentially at risk.

Farfetch saw its revenue almost doubling in the first quarter as lockdowns meant online was the only option for luxury fashion shoppers. The firm remains loss-making but says it's still on target for profits next year.

Asos has defended its decision to keep its warehouse in Barnsley open after calls from a union to close it for a deep clean on reports that several workers tested positive for Covid-19. 

The e-tailer said it had a good Q1, although it remained loss-making. Demand has been strong, despite a mid-March dip and loungewear has been the key lockdown category.

The New York-based owner of brands including Umbro, Lee Cooper and Ecko Unltd. announced a net loss of $21.5 million for the first quarter on Tuesday, down from income of $17.9 million in the prior-year period.

A group of fashion CEOs, retailers and designers, including luminaries like Dries Van Noten, Tory Burch and Craig Green, have called for a major rethink in fashion deliveries and greater sustainability in an open letter.

The Greensboro, North Carolina-based owner of the Lee and Wrangler denim brands announced on Thursday lacklustre first quarter results, as the Covid-19 pandemic had an adverse affect on the firm's revenue and beyond.

Neiman Marcus Group filed for bankruptcy protection on Thursday, marking one of the highest-profile collapses yet among retailers forced to temporarily close stores in response to the COVID-19 pandemic.

Plunging store sales but a surge online were the big stories in Superdry's latest quarter and full year. It remains upbeat as recovery signs are being seen, even though store closures will delay its turnaround.

With a focus on denim, the collection offers a range of girl's apparel made using processes that "save water and reduce waste," Gap said, tapping Gen Z consumer interest in sustainable products. 

Laybuy, the buy now, pay later specialist from New Zealand, hosted its first day of deals for UK customers on Thursday in partnership with some of Britain’s best-known retailers.

Australian contemporary retailer Surfstitch has linked up with UK-based app commerce platform Poq to launch its first customer app.