Britons are hoarding unworn clothing worth tens of thousands of pounds over their lifetime, with the average couple amassing clothes worth more than £32,000 worth over their lifetime.
Posted In CSR & Sustainability, News & Insight, Retail & Etail
Britons amass £32k of unworn clothing in a lifetime
Posted In Business, News & Insight, Retail & Etail
Remember, remember 2018 November? Retailers would rather not
The darling of British online retail, ASOS, today, issued a statement saying it saw “significant deterioration” in trading in the run-up to Christmas sending its shares into freefall (its shares eventually closed this evening down 37.5%, having dropped by as much as 42% during the day). Blaming the weather and a high level of discounting and promotional activity across the market, it said it lead it to increase its own special offers, which typically eat into profit margins.
H&M group has today reported a sales growth of 5% including VAT to SEK 244.3bn (£21.4bn) in the full-year ending 30 November 2018, going against the current wave of down-trading from many of its competitors.
Menswear retailer Blue Inc has been placed into administration after attempts to find a buyer for the business failed.
Posted In Brands & Designers, Business, Fashion, News & Insight, Retail & Etail
Victoria Beckham’s fashion label posts higher losses on increased sales and investments
Losses at Victoria Beckham’s luxury fashion label increased by £2m as it continued to invest in the business, but maintained that it expects to break even in the medium term.
Posted In Business, News & Insight, Retail & Etail
ASOS’s profit warning sends shares of retail rivals tumbling
Retail stocks in the UK and Europe tumbled after ASOS warned this morning that full-year profits would be lower, blaming a “significant deterioration” in November trading.
Posted In Business, News & Insight, Retail & Etail
Laura Ashley to close 40 UK stores as chairman plots China expansion
Laura Ashley is to close around 40 stores as the company’s new chairman pushes ahead with a fresh vision for the brand which includes expansion in China.
Posted In Business, News & Insight, Retail & Etail
Boohoo seeks to reassure market after shock profit warning from ASOS
Online fashion retailer boohoo has issued a statement seeking to reassure the market that it has been trading well, despite the shock profits warning from online fashion giant ASOS. The unexpected news from ASOS led to a dramatic slump in its share price during early trading wiping almost £1bn off its market capitalisation.
Posted In Business, News & Insight, Retail & Etail
ASOS issues profit warning as Christmas sales falter
Online fashion giant ASOS has warned over sales and profits after experiencing a “significant deterioration” in trading in the run-up to Christmas.
Posted In Brands & Designers, Business, Fashion, News & Insight
Diesel founder Renzo Rosso circles Roberto Cavalli
Diesel founder Renzo Rosso is reported to be one of a number of suiters circling the Roberto Cavalli luxury fashion house which is being advised on a potential sale by Rothschild.