The business reported that it was $932m (£740m) in the red for the three-month period to May 2020, compared with a $227m profit for the same period in 2019.

The announcement came as the embattled retailer wrote off the value of goods it holds by more than a quarter of a billion dollars, according to the BBC.

Net sales for the period also fell 43%, which led chief executive Sonia Syngal to blame the “material declines” on store closures as a result of the virus, but she noted that online demand for the brand was improving.