Retail
UK: online retail growth in freefall in May
The growth of online retail sales fell by 8.7% year-on-year in May in the UK, despite being measured against a negative performance in May 2021 (-6%), as reported by the latest IMRG Capgemini Online Retail Index, which tracks online sales for 200 retailers
ASOS appoints new CEO as it warns on profit
The fashion retailer named José Antonio Ramos to the role of CEO and announced that Jgøren Lindemann will become Chair. The company also said that will be expecting lower profits this year
Argentina: SME retail sales dropped in May
Retail sales from small and medium businesses fell by 3.4% in May, year-over-year, and by 8.9%, as compared to April. Price and cost increases affected profitability and consumer’s confidence
France Retail: retailers’ confidence sank in the first quarter of 2022
Despite the Eurostat TCF (Textile, Clothing and Footwear) suggesting the return of retail to normalcy, there are red signs undermining not only consumers’ confidence, but also the retailers’ one, who before had displayed some insensitivity towards risks. Surging energy prices, inflationary pressure and the war in Ukraine are overshadowing any boost from an easing of COVID-19 restrictions. The subsequent increase in costs does make us wonder why TCF retail is not in the red yet
Amazon Fashion launches Virtual Try-On For Shoes
The interactive mobile experience uses augmented reality to help the customer visualize how a pair of shoes looks from every angle and make better informed purchasing decisions
Europe: fashion brands don't share geographical location with manufacturing
When looking into the location of the main brands and manufacturing businesses of the European TCLF industry (Textile, Clothing, Leather and Footwear), one easily concludes about the existence of a dichotomy between brands and production
Farfetch to accept cryptocurrency payments
The luxury e-tailer will enable cryptocurrency payments for private clients on its marketplace in the coming months and then expand to all customers in the US, the UK, and Europe from late 2022
Armando Cabral opens immersive retail space in the US
The Portuguese model and businessman expanded his brand with an Afro-Centric immersive retail experience in the Rockefeller Centre named ARMANDO CABRAL Mercado
Allbirds expands distribution to Nordstrom
Nordstrom customers can now shop men's and women's Allbirds styles at 14 select stores.Later this year, Allbirds will expand their selection, which will be available to shop on Nordstrom.com, at Center Stage in New York City and in more Nordstrom stores
Australia: retail sales increase in April
The Australian retail turnover rose by 0.9% in April 2022, reaching another record level, according to the figures of Retail Trade published by the Australian Bureau of Statistics (ABS)
Chief Executive of Amazon’s consumer business is leaving
Dave Clark, who has overseen the company’s extensive warehouse operations, announced he would depart Amazon after 23 years. It’s time for me to build again, he wrote on Twitter
Pou Chen posts net profit decline
The Taiwanese manufacturer of branded sports footwear reported a drop of 26.1% in net profit in the first quarter of 2022 due to fewer investment gains from its Nan Shan Life Insurance unit
Dick's Sporting Goods posts sales decline
The sporting goods retailer posted a comparable store sales drop of 8.4% in the first quarter of fiscal 2022 over the same period last year, but remains optimistic about its long-term strategy
Foot Locker reports solid performance
The retailer posted a slim increase in sales in the first quarter of fiscal 2022 over the same period last year, but still ahead of estimates. Revenue for the quarter totalled 2.17 billion US dollars
Shoe Carnival surpasses pre-pandemic levels
The US-based retailer of footwear and accessories announced that in the first quarter of fiscal 2022 sales grew by 25.1% and EPS by 100 percentage points over the same period of 2019-
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