The Leicester scandal continued to dog Boohoo this week with MPs writing to the etailer to demand answers about what it knew of mistreatment of workers at factories in Leicester. Its co-founders attempted to shore up its flagging share price by buying £15m worth of shares but it failed to move the needle.
Elsewhere its larger, and higher end, rival ASOS had a good week announcing sales up 10% under lockdown as its global position helped it to balance the impact of COVID-19 across its markets. Its share price has been bumping along nicely of late and is close to a two-year high.
In the luxury space, Burberry revealed the pain the crisis had caused reporting like-for-like retail sales down 45% and a plan to cut 500 jobs.
Elsewhere the reopening of hospitality helped footfall to edge up but it remains catastrophically down in the West End of London, which has reported a 73% decrease. Now Boris Johnson has signalled workers can return to offices and public transport is no longer out of bounds, it must be hoped that footfall will improve.
However the issues facing fashion are stark and long-term as set out by the British Fashion Council, which this week called for additional support saying some 240,000 direct employees in fashion stand to lose their jobs.
This is another eventful week in fashion as told through the numbers that matter.
The value of shares purchased by Boohoo’s co-founders Carol Kane and Mahmud Kamani as they attempted to shore up its flagging share price following allegations of mistreatment of staff at a Leicester factory.
The number of fashion jobs that are at risk of being lost altogether unless the Government steps in with further aid, according to the British Fashion Council.
The number of Victoria’s Secret stores in the UK. The high street giant Next is the favourite to land the deal to run the UK franchise of the US lingerie giant.
The drop in footfall in London’s West End, which is calling on the Government to reform tax-free shopping to stimulate demand.
The number of jobs saved after Johnsons Shoes Company was bought out of administration by Newjohn Ltd, which is part of independent footwear chain Daniel Footwear.
The value of sales achieved by ASOS in the four months to the end of June, representing a 10% increase year on year.
The number of proposed job cuts at Burberry, which has revealed sales down 45% year-on-year as a result of the COVID crisis.
The date of the new physical/digital gender neutral London Fashion Week for the SS21 season.
The increase in week-on-week retail footfall which was boosted by the opening of hospitality.
The value of the “furlough bonus” that Primark would be entitled to claim for bringing its workforce back; the value retailer, however, has said it will decline to take the cash.
The hourly wage allegedly being paid at a Leicester factory that has supplied QUIZ; the fast fashion retailer says the supplier was subcontracted without its permission.
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