THE HIDE REPORT
Footwear News summarizes status of major brands in China
In an effort to help curb the spread of the deadly coronavirus, travel restrictions in China have limited tourism, production and foot traffic. Some retailers have shuttered their outposts or reduced operating hours in heavily affected areas, leading to lower sales that are likely to hurt their bottom lines, although the extent of the impact remains unclear. The illness continues to claim lives, deaths having reached 2,700, infections surpassing 80,000 as of Tuesday. And retailers are keeping a close eye on its impact on business as well as on associates and partners who work in the country.
Fashion purveyors that have so far issued warnings — from closures to downwardly adjusted outlooks — as a result of the coronavirus, Footwear News reports include Ralph Lauren, Kering, VF Corporation, Burberry, Skechers, Tapestry, Capri, Adidas and Nike.
US surpasses China as India’s top trading partner
The United States has surpassed China to become India’s top trading partner,
