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, the Wall Street Journal reported. 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 manufacturers of other, slower-moving consumer goods like cosmetics, smartphones and cars. Associated British Foods PLC, which owns Primark, a retailer with stores across Europe, and Peacocks Stores Ltd., a U.K. retailer owned by EWM Group, have suspended or canceled orders, according to public statements and notices to suppliers.
