By Reuters Staff
2 Min Read
LONDON (Reuters) -Britain’s Next on Thursday joined a growing list of European clothing retailers suspending new production orders with factories in Myanmar in the wake of February’s military coup.
FILE PHOTO: A Next store is pictured on Oxford Street as the spread of coronavirus disease (COVID-19) continues in London, Britain, April 15, 2020. REUTERS/John Sibley
Myanmar has been rocked by protests since the army overthrew the elected government of Nobel laureate Aung San Suu Kyi on Feb. 1 citing unsubstantiated claims of fraud in a November election.
At least 536 civilians have been killed in protests, 141 of them on Saturday, the bloodiest day of the unrest, according to the Assistance Association for Political Prisoners (AAPP).
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British fashion retailer Next said it will retain stores as long as landlords continue to be pragmatic on the rents they charge.
The fashion chain said profits for the last year were slashed by more than half after its stores were shut for large parts of it.
However, the group also raised its profit forecast for the current year, as it hailed soaring online sales in the past eight weeks.
âAs they have been so far, if landlords continue to be as pragmatic in determining rents going forward then that will allow shops to stay open,â chief executive Simon Wolfson said.
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