The UK government is being urged to reconsider its decision to almost completely opt out of tax-free shopping at the end of the year with retailers and the bodies that represent them saying it would be a catastrophe.

​Aspinal of London is the latest British retailer to launch a CVA proposal as the effects of a pandemic have made its current business model unviable.

A select few fashion brands are managing to open boutiques this summer, but Dolce & Gabbana have chosen a more novel inauguration – a rarefied cabana in the Côte d’Azur’s legendary Grand-Hôtel du Cap-Ferrat.

Swiss travel retail giant Dufry has agreed to buy the rest of Hudson for $7.70 per share in an all-cash deal worth around $311 million. Dufry currently owns 57.4% of the US firm. This will delist Hudson from the NYSE.

Shopper numbers remain muted in the UK and the West End of London is still suffering, new data has shown. But there remain signs that a slow upturn is happening.

Swiss airport retailer Dufry has announced its cash flow estimates in a still-uncertain world and is planning for potential full-year declines in turnover of 40%, 55% and 70%.

Sales at Maybelline maker L’Oréal fell more sharply than expected in the second quarter, though the French beauty giant managed to contain any major profit erosion as the COVID-19 pandemic forced stores to close.

British department store group Selfridges warned Tuesday that it plans to axe 450 jobs after sales slumped due to the coronavirus and the aftermath of the nationwide lockdown.

​The New West End Company is calling on the UK government to introduce tax-free shopping for European tourists post-Brexit as what should be Britain’s busiest shopping area continues to see a mere trickle of visitors.

Usually thronging as summer sales kick off, Paris' Printemps department store is among French retailers bracing for a fall in revenues this year as the coronavirus outbreak keeps tourists away.

Global affluent consumers are beginning to question their consumption of luxury goods in the wake of the coronavirus crisis, but the Chinese are still very pro-luxury, even though they're demanding sustainability too.

Hong Kong’s retail sales in May slumped 32.8% from a year earlier, falling for the 16th consecutive month as the virus pandemic slammed the brakes on tourism and spending in the city.

"Expect a slow recovery from the pandemic in 2020", warned Bernard Arnault, chairman and CEO of LVMH, whose giant group on Tuesday morning announced a 20% reduction dividend in 2019.

Victoria’s Secret has closed its flagship store in Causeway Bay, as tourism plunges in Hong Kong and the company faces massive financial losses due to the coronavirus pandemic. 

Swiss travel retail giant Dufry AG on Wednesday launched a restructuring programme designed to cut its staff costs as it works to protect its business following the effects of the coronavirus outbreak globally.

Footfall researcher Springboard said retail visitor traffic from June 15 up to June 21 rose, but was still weak by normal standards. And the West End continued to reel from the absence of tourists and office workers.