In Numbers: the Week in Fashion in Figures

Sports Direct Frasers Group

7,000. That will be the number that many of us remember from this week. It is, of course, the number of job cuts Marks & Spencer plans to make in the coming months as it accelerates its business transformation in light of the COVID pandemic.

The figure brings the number of jobs lost or at risk in the fashion sector, as a result of the crisis, to more than 23,000. Retail overall has lost more than 40,000 staff.

Of course from disaster springs opportunity, for some at least, and when announcing its delayed results this week, Mike Ashley’s Frasers Group said it intends to capitalise on the empty stores in shopping centres in particular, to expand its empire (it’s also investing £100m in its digital platforms). Though it has warned some stores could close as well.

In fact Frasers Group has dominated the headlines all week as you will see, as you catch up on the numbers that tell the story of another eventful week in fashion.

£30m

The amount Mike Ashley’s Frasers Group is said to have offered administrators to buy the collapsed DW Sports, which was established by his rival Dave Whelan.

Mike Ashley’s Frasers Group bids for DW Sports

2025

The year by which Selfridges plans to change the way we shop with its new Project Earth sustainability initiative.

Selfridges launches Project Earth sustainability programme

£466m

The amount Victoria’s Secret’s UK arm owed creditors when it collapsed into administration.

Victoria’s Secret UK owed 208 creditors £466m before collapsing into administration

0.8%

The amount by which footfall rose across all UK retail destinations in the week of 9-15 August.

Heatwave causes high street footfall slump but staycation hotspots boosted

7,000

The number of job cuts M&S intends to make in the coming months as it accelerates its business transformation plans.

Marks & Spencer to axe 7,000 jobs

£9m

Revenue achieved by online women’s fashion brand Sosandar in the 12 months to 31 March.

Sosandar reports another year of growth with £9m revenue

£46m

Losses at department store Fenwick have widened to £46m its latest accounts show.

Fenwick losses deepen to £46m

44

The age of tall women’s fashion brand Long Tall Sally, which was saved this week by Yours Clothing’s owner.

Yours Clothing owner buys Long Tall Sally

23,000

The number of fashion retail jobs lost or at risk as a result of the COVID pandemic leading to Labour to call for more Government support.

Labour calls for Hospitality and High Streets Fightback Fund after M&S announces 7,000 job cuts

£150

The amount of profit made, and donated to charity, on an accidental share purchase by Frasers Group chairman.

Frasers Group chairman’s accidental share purchase shows “a system and control failure”

6.9%

The annual increase in Frasers Group sales as its acquisitions and expansion of Flannels steered it to growth.

Frasers Group sales up 6.9% as COVID-19 crisis hits profits

3

The number of days a week Hugo Boss staff will need to be present in the office as it moves to permanent flexible working.

Hugo Boss to adopt mobile working on Mondays and Fridays

40,000 sq ft

The size of Primark’s first ever store in Poland which opened this week.

Primark opens its first store in Poland

25.7%

Fashion sales in July were down by 25.7% on pre-lockdown levels in February, however retail sales overall enjoyed a bounce.

Retail sales return to pre-COVID levels but fashion is suffering

£90

The price of Burberry’s new luxury face mask made from excess fabric with antimicrobial technology.

Burberry launches £90 face mask

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