This week got off to a depressing start for fashion with news of redundancies at both Marks & Spencer and Ted Baker with the latter half of the week dominated by the news that face masks were to be made mandatory in stores from today.
While footfall has picked up on the high street and overall retail sales have bounced back, fashion sales remain depressed. We closed the week out with news that French Connection has secured sufficient cash to see it through the next two years, hopefully avoiding another retail casualty.
Here are the stats that matter from another eventful week for UK fashion.
The number of redundancies Marks & Spencer is making across store management and as its HQ as part of its transformation programme.
The number of retailers, along with 50 MPs and Peers, who wrote to Home Secretary Priti Patel this week to call for Fit to Trade licenses for UK garment manufacturers.
The number of UK stores operated by Jigsaw which this week called in advisers to investigate its future options, including a potential sale.
The number of new jobs being created by delivery giant Hermes as e-commerce continues to boom post-lockdown.
The slump in revenue at Ted Baker in the past 11 weeks; the retailer has nontheless said its trading has been resilient.
Percentage drop in sales in the past 13 weeks at value retailer Matalan, which demonstrates the severity of the COVID impact on trading.
The increase in searches for “face masks” since May, according to fashion search engine Lyst.
The year Jan Marchant joined Tesco. She was this week promoted to CEO of its clothing arm, F&F.
The number of pieces in the new Richard James London sportswear line, which is stocked at a new standalone store in Soho.
The year former John Lewis MD Andy Street, now West Midlands Mayor, opened its Birmingham store. Current boss Dame Sharon White intends to close it, much to his dismay.
The number of new jobs set to be created at PrettyLittleThing’s expanded HQ in Manchester, for which it is seeking planning permission.
The amount by which retail sales jumped in May, but it remains bad news for fashion which is still under pressure.
The date the new Jack Wills childrenswear line is set to launch. It is being created under license by BMG.
The amount of funding French Connection has received from retail investment and turnaround experts Hilco.
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