Must Read: Can Bath & Body Works Save L Brands?, How Fashion Can Overcome the Industry's Discounting Problem

Plus, Burberry sees a steep decline in profits.
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Can the recent success of Bath & Body Works save L Brands?
L Brands' attempt to sell off a majority stake in the struggling Victoria's Secret fell apart amidst the pandemic, just as another of the company's assets, Bath & Body Works, saw a spike in demand for its products, like hand soap and sanitizer. The soap-and-candle chain has seen growth and impressive sales over the last decade, reportedly bringing in more than $5 billion in 2019. But complications — including a heavy reliance on brick-and-mortar retail, a model that thrives on impulse purchases made in-store, emerging hygiene issues surrounding beauty testers during a pandemic and the continuing decline of shopping malls — are leading experts to question whether Bath & Body Works may be able to weather the current economic and health crisis. {Business of Fashion}

How the fashion industry can avoid the 'discounting trap'
As the fashion industry considers a way forward that includes overhauling the fashion calendar, many are calling for an alternative to the frequent and extreme markdowns that have become common retail practice, arguing they're not sustainable in the long term. Other solutions could include reallocating stock that doesn't sell to different regions or doing limited drops and online sample sales to avoid falling into the traditional "discounting traps." {Vogue Business}

Burberry reports major decline in sales and profits
The Covid-19 crisis has impacted the fashion business swiftly, with Burberry reporting a 3.2% drop in sales for the 2019-2020 fiscal year, as well as a 57% decrease in operating profit. Per WWD, the company "declined to offer any outlook for the current year, but it said the first quarter would be badly impacted by store closures." {WWD}

Saying goodbye to Elizabeth Suzann
Elizabeth Suzann, a bespoke clothing company based out of Nashville, announced its closure toward the end of April after seven years of business. The made-to-order fashion label had been regarded as a leader in the "slow fashion" aesthetic, relying on neutral color palettes, natural fibers and comfortable, billowy pieces. Elizabeth Suzann's devoted fans remember and appreciate the brand in The New York Times, reflecting on its candid approach to social issues, commitment to ethical production and transparency, sense of community and easy, wearable clothing. {The New York Times}

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