In May, Neiman Marcus said it expects to emerge from Chapter 11 early in the northern autumn with a US$750 million ($1.1 billion) package from creditors that provided its initial bankruptcy loan.

To date, nearly all of Neiman Marcus’s stores have reopened in some capacity post-pandemic, with some offering kerbside pickup or private viewing appointments and some full shopping.

US retailers mandate face masks

Major US retailers now require customers to wear facemasks while on their premises, despite longstanding fears that the policy would antagonise shoppers, especially in some parts of the country where mask-wearing has become political and contentious.

Walmart, Kroger and Kohls were to have instituted the new stricter policy this week, saying the use of facemasks was a widely accepted preventative measure against spreading Covid-19, which has now claimed nearly 140,000 American lives.

Best Buy and Starbucks have already imposed the use of facemasks at their US outlets, and Target, Walgreens and CVS are to soon follow.

Trade group the National Retail Federation (NRF) has been pushing for retailers to adopt a nationwide policy that requires customers to wear masks.

“Shopping in a store is a privilege, not a right. If a customer refuses to adhere to store policies, they are putting employees and other customers at undue risk,” the NRF said.

Booming Zalando lifts guidance

German online fashion retailer Zalando has lifted its full-year earnings guidance following a strong second quarter, given consumers’ shift towards online shopping.

It now expects to grow gross merchandise volume (GMV) by 20 to 25 per cent and revenue by 15 to 20 per cent in 2020. The previous target was 10 to 20 per cent growth for both GMV and revenue.

Adjusted earnings before interest and taxes are now expected in the range of €250 million and €300 million ($408 million to $490 million), the company announced.

JC Penney cuts 1000 jobs

US department store chain JC Penney will cut about 1000 jobs and shutter 152 of its 840 stores as it seeks to emerge from Chapter 11 protection and the Covid-19 crisis.

The layoffs would be in corporate, field management, and international roles. The company is also in talks with its landlords regarding store closures, Reuters reports.

The 118-year-old retailer filed for bankruptcy protection in May.

It has been struggling for years, and has lost US$4 billion since 2010, its last profitable year, CNN reports.

The network reports that a closure of JC Penney is unlikely at this time, partly because the creditors know they would receive even less than usual by forcing the company into liquidation.

“A liquidation of JCPenney isn’t going to raise much in the short term,” said Neil Saunders, managing director and retail analyst at research firm GlobalData.

“All the values are incredibly depressed. No one is in the market to buy these things. This is a reason for investors to find a short-term fix to keep things going.”

ASOS to repay incentive

British online fast fashion retailer ASOS has declined to take advantage of a government scheme to pay employers from bringing back staff from furlough; ASOS laid off 1000 people due to the pandemic.

Finance minister Rishi Sunak announced that the government would introduce a new jobs retention bonus of £1000 ($1780) per employee to encourage businesses to bring back staff they furloughed because of the coronavirus crisis.

ASOS said that, on the contrary, due to its rising sales, it will be able to repay cash to the government that it had already received during the lockdown.

The online retailer said that group sales increased by 10 per cent to £1 billion ($1.8 billion) in the four months to June 30, though it was unclear whether that success would lead to the company bringing back its workers.