Some major retailers are still nursing last year's clothes, which would have been sold off in clearance sales in normal times. Britain's Marks & Spencer and Germany's Hugo Boss said they had placed smaller orders than usual for this year's spring collection. But there are no orders for March," said Dhaka-based factory owner Shahidullah Azim, whose clients include North American and European retailers. Asif Ashraf, another factory owner in Dhaka who makes clothes for global retailers, said it was tough to adjust. Estimates for 2021 range from pessimistic forecasts of a 15% sales drop from McKinsey, to an 11% recovery from Euromonitor.

Source: bd News24 February 08, 2021 12:00 UTC