The coronavirus crisis is causing major shifts in the catering and food service market. While many traditional restaurants are closing, 'dark kitchens' are booming. The future is theirs, and here is why.
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The lockdown measures against the coronavirus proved to be a blessing for meal supplier HelloFresh: in the second quarter just as in the first, demand for meal boxes increased sharply.
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Artificial intelligence is becoming increasingly important in the supermarket industry, but biased algorithms can cause great damage. Ahold Delhaize wants to pay more attention to this, CEO Frans Muller says.
PepsiCo saw its turnover drop 3.1?% in the three months until 13?June, but took heart from the encouraging sales growth of its cereals.
(update) French fashion chain Promod is reducing the size of its foreign activities. The German branch has started an insolvency procedure, the Belgian stores are also being looked into. However, only one Belgian store is closing.
Dutch fashion label G-Star is suffering due to the corona crisis: in the US and Australia the brand applied for creditor protection, in Sweden bankruptcy was declared. Yet the company claims to be financially healthy.
Dutch supermarket chain Jumbo is restructuring its restaurant business La Place: 23 restaurants, or more than a quarter of all establishments, are closing due to the corona crisis.
British Prime Minister Boris Johnsons launches an assault on obesity: he wants to ban promotions for unhealthy food in supermarkets. The corona crisis has strengthened his conviction, he says.
The decision to make mouth masks?compulsory in all shops is widely supported within the Belgian retail sector, but shopkeepers are not willing to act as policemen and reject sanctions.
Levi's is cutting 700 jobs in its offices, or about 15% of the workforce. As a result of the corona crisis, turnover of the jeans brand fell by no less than 62% in the past quarter and uncertainty remains.
Retail sales in the eurozone recovered particularly well in May, when many countries eased lockdowns. Eurostat figures show this.
Spanish fashion chain Mango attracted as many as 900,000 new online customers during the lockdown, almost doubling online sales. Digital transformation remains a priority for the company.
Suit Supply receives 40 million euros in government-guaranteed loans. The shareholders of the of made-to-measure menswear retailer also inject another 20 million euros into the company after the corona crisis hit hard.
American luxury group Capri (Jimmy Choo, Michael Kors, Versace) fears a 70% loss of sales due to the corona?pandemic. The group will therefore close 170 stores over the next two years.
To recover from the Covid crisis, fashion chain Esprit has to cut costs. Half of its 100?stores in Germany will be closed, 1100 people will lose their jobs. A further 100?jobs will also be lost in the headquarters in Hong Kong.
Primark has lost almost 900?million euros to the coronavirus crisis: the Irish fashion discounter now expects its full-year profit will drop by almost 70?%.