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.

Camden Market owner LabTech said that the market will partially reopen at the earliest possible opportunity, on June 1, following the government’s latest announcement on the easing of the lockdown.  

As European luxury shopping capitals from Paris to Milan slowly emerge from coronavirus lockdowns, stores are reopening to a trickle of customers, and virtually no tourists.

A travel bag belonging to the ill-fated French queen Marie-Antoinette sold for more than five times its estimate in an auction of royal memorabilia near her one-time home at the Palace of Versailles.

Burberry – and other major luxury names – are likely to see a very slow recovery due to the global decline in tourism caused by the coronavirus pandemic, analysts at UBS have said.

After a two-month lockdown, the stores on Paris’s Champs-Elysées avenue opened again at 10 am on Monday, some with their customary queues outside, though the usual throngs of foreign tourists were sadly missing.