Daily LInks
1. Retailers Start Usefully Quantifying Virus Impact: UK fashion chain Next Plc has produced a stress test that outlines potential outcomes – in a worst-case scenario, full-price sales would be down by about 1 billion pounds ($1.16 billion), a quarter of its total, which would mean pre-tax profits of just 55 million pounds for the financial year (against 729 million pounds in the year earlier). – Read More on Bloomberg
2. Fashion retailer H&M weighs tens of thousands of job cuts because of coronavirus: As of Monday morning, the company said 3,441 of its 5,062 stores worldwide are closed, and has started talks about temporary layoffs “in a number of markets.” – Read More on CNBC
3. Advertising in the age of coronavirus: Some brands have chosen to make the sudden life changes affecting many Americans a core part of their messaging. Italic Inc., an e-commerce site that sells luxury goods, sent out an email marketing campaign to some of its customers that read: “Working from home?” – Read More on WSJ
4. How internet culture and Instagram changed the rules of internships: Students are looking to their schools’ career advising offices or scouring online job boards like LinkedIn or Indeed. Instead, they are going straight to social media. – Read More on Modern Retail
5. From His Kitchen Table, Everlane’s CEO Tries to Keep his Brand Running: E-commerce sites continue to operate, even for retailers that have closed stores to slow the virus. And they are still stocked with jeans, jackets and dress shoes, even though two of the hardest-hit nations, China and Italy, are crucial producers. – Read More on Bloomberg
