The Minneapolis-based womenswear retailer reported its preliminary fourth-quarter financial results on Thursday, announcing that it expects to see a moderate sales rise, as well as improvements in gross margin.
After Columbia temporarily closed many of its China stores, the group has announced that the outbreak has impacted sales in its Asia-direct business and caused a slowdown in its supply chain and distribution.
The women’s fashion retailer managed a significant cut in its losses in Q4, as its Soma lingerie brand continued to lead sales growth and the company made further progress with its strategic initiatives.
The organisers of Baselworld, one of the world's biggest watch fairs, said Friday they would cancel the 2020 event after the Swiss government banned mass assemblies over the spread of the deadly new coronavirus.
The 59th edition of the furniture show, scheduled in April with 2,200 exhibitors, has been postponed to June, reportedly causing a €120 million impact on business, due also to a shortfall of 30,000 Chinese visitors.