A surge in digital sales for U.S. retailer Target Corp in March and April offset the bulk of damage done by coronavirus lockdowns to in-store sales, but its margins continue to suffer, it said on Thursday.
The Californian company has reaffirmed its 2020 guidance, despite seeing a "significant decline" in recent retail sales due to the Covid-19 pandemic, and has announced that its China operations are back to normal.
The company is working to support its staff, contribute to pandemic relief efforts, and boost its financial flexibility by drawing down from its revolving credit facility, suspending its quarterly cash dividend and more.
As the Covid-19 pandemic continues to impact business, consumer spending and events within the fashion industry, LVMH has moved its annual shareholders' meeting, originally scheduled for April 16, to the end of June.
In a global coronavirus pandemic, delivery drivers like Alvarado have become as essential as first responders. But they typically have little or no job security - or even the basics needed to stay safe on the job.
Target will up the hourly wage of workers in its stores and distribution centers, and donate $10 million to expand assistance related to the pandemic, marking Target's largest donation ever to a single relief effort.