×
2 781
Fashion Jobs
LEVI'S
Levi's Store, pt Sales & Merchandising Supervisor, Rideau Centre, Ottawa, on
CDI · Ottawa
NORDSTROM
Asset Protection - Agent - Willowbrook Mall Rack
CDI · Langley
NORDSTROM
Position Asset Protection Agent - Heartland Town Center Rack
CDI · Mississauga
NORDSTROM
Asset Protection - Security Ambassador - Deerfoot Meadows Rack
CDI · Calgary
NORDSTROM
Asset Protection - Security Ambassador - Ottawa Train Yards Rack
CDI · Ottawa
NORDSTROM
Asset Protection - Agent - Yorkdale
CDI · Toronto
NORDSTROM
Asset Protection - Security Ambassador - Eaton Centre
CDI · Toronto
ESTÉE LAUDER
le Labo Field Executive Sales Manager
CDI · Toronto
L'OREAL GROUP
Education Project Coordinator
CDI · Montréal
TJX CANADA
Loss Prevention Store Investigator
CDI · Calgary
LEVI'S
Levi's Sales And Merchandising Supervisor, Part-Time, Toronto Eaton Centre, Toronto, on-1
CDI · Toronto
L'OREAL GROUP
Business Consultant
CDI · Vancouver
NORDSTROM
Asset Protection Coordinator - Pacific Centre
CDI · Vancouver
ESTÉE LAUDER
Field Executive Training Manager- Tom Ford Beauty, Kilian Paris, Frederic Malle
CDI · Toronto
TJX CANADA
Learning & Development Manager, Business Relationships
CDI · Mississauga
TJX CANADA
Winter Term Finance Analyst cO-Op
CDI · Mississauga
NORDSTROM
Asset Protection - Agent - Sherway Gardens
CDI · Toronto
NORDSTROM
Asset Protection Coordinator - Yorkdale
CDI · Toronto
ADIDAS
Sales & Territory Marketing Manager
CDI · Calgary
ADIDAS
Senior Finance Manager, Accounting & Payables
CDI · Vaughan
NORDSTROM
Asset Protection - Agent - Deerfoot Meadows Rack
CDI · Calgary
WINNERS
Full-Time Jewelry Consultant, Winners & Homesense, Coquitlam
CDI · Coquitlam
By
Reuters API
Published
Mar 23, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Coronavirus threatens retail jobs, Indian retailers see revenue hit

By
Reuters API
Published
Mar 23, 2020

The coronavirus pandemic amid an economic slowdown has hit revenue at Indian retailers selling non essential items like clothes and jewellery by 75 percent so far and is likely to cause widespread job losses, an industry body said on Monday.


Coronavirus threatens retail jobs, Indian retailers see revenue hit


About 40 percent of the six million employees working in India's modern, rather than traditional, retail sector could likely lose their jobs in the next four months if the government does not intervene, Kumar Rajgopalan, chief executive, Retailers Association of India (RAI), told Reuters.

"Unless the government provides some relief, revenues will slide by 90% in the next six months," Rajgopalan said, suggesting moratoriums on the payment of loans, and on the payments of the goods and services tax (GST) and other government duties.

The RAI represents 500,000 stores in India, including brands like V-Mart , Shopper's Stop , Future Group and Avenue Supermarts , which operates the grocery chain D-Mart.
On Sunday, Future Retail, which owns hypermarket Big Bazaar, said the pandemic, has resulted in a "degrowth of revenue".

"The expected impact of Covid-19 as of now is hard to ascertain," it said in a filing to the exchanges on Sunday.

India has registered 341 cases of coronavirus, with seven deaths as of Sunday. Experts have warned the rate of increase in cases in India mirrors those seen in the early stages of outbreaks in other countries, which then went on to see rapid growth.

Gurgaon-based fashion retailer V-Mart Retailer has seen a 30% fall in revenue in the week of March 15-21 due to store closures. The retailer has shut about 116 of its 265 stores as of Saturday.

"Manpower costs are fixed, we are trying to support our staff at least for the next 45 days," said Lalit Agarwal, managing director,V-Mart Retail.

Aditya Birla Fashion and Retail said on Monday that business had been significantly affected without specifying the impact of the pandemic.

In India, the virus threatens an economy that was already hit by a slowdown in consumption that has bruised demand for everything from cars to clothes to chocolates.

The virus, which originated in China, has infected nearly 200,000 people worldwide, forced countries into lockdown and fear over its impact on global economy has sent world financial markets crumbling.

© Thomson Reuters 2021 All rights reserved.