Retailers Cancel Orders From Asian Factories, Threatening Millions of Jobs - News Summed Up

Retailers Cancel Orders From Asian Factories, Threatening Millions of Jobs


Retailers are suspending and canceling clothing orders, threatening millions of factory jobs in Asia just as China shows signs of recovering from the worst of the coronavirus outbreak. Among the first to be hit by the consumer shutdown in the West are suppliers to the world’s “fast-fashion” giants, like H&M owner Hennes & Mauritz AB. Their business models depend on being able to get orders from factory floors to retail outlets in a matter of weeks. They are now pausing or canceling factory orders, boding ill for Asian...


Source: Wall Street Journal March 25, 2020 10:45 UTC



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