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.
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.
The year by which Selfridges plans to change the way we shop with its new Project Earth sustainability initiative.
The amount Victoria’s Secret’s UK arm owed creditors when it collapsed into administration.
The amount by which footfall rose across all UK retail destinations in the week of 9-15 August.
The number of job cuts M&S intends to make in the coming months as it accelerates its business transformation plans.
Revenue achieved by online women’s fashion brand Sosandar in the 12 months to 31 March.
Losses at department store Fenwick have widened to £46m its latest accounts show.
The age of tall women’s fashion brand Long Tall Sally, which was saved this week by Yours Clothing’s owner.
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.
The amount of profit made, and donated to charity, on an accidental share purchase by Frasers Group chairman.
The annual increase in Frasers Group sales as its acquisitions and expansion of Flannels steered it to growth.
The number of days a week Hugo Boss staff will need to be present in the office as it moves to permanent flexible working.
40,000 sq ft
The size of Primark’s first ever store in Poland which opened this week.
Fashion sales in July were down by 25.7% on pre-lockdown levels in February, however retail sales overall enjoyed a bounce.
The price of Burberry’s new luxury face mask made from excess fabric with antimicrobial technology.
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