Retail
Germany Retail: despite some good news, retailers continue to worry
German retailers’ worries are not over. Despite a slight uptrend in the Textile, Clothing, and Footwear (TCF) Retail index, in line with the recent positive trend in consumer confidence indicators, their concerns go well beyond nominal performance and focus on whether inflation will continue to erode margins. Put simply, passing on costs to customers or closing down altogether is still keeping them up at night. As the first quarter is traditionally slow, and the volatile geopolitical situation could change at any moment, we are cautious about making near-term forecasts
Macy’s cuts 2 350 jobs
As it continues to streamline its business, the department store chain has announced that it will lay off about 3.5% of its workforce, or around 2 350 employees, and close five stores
Positive perspectives regarding the health of footwear business
In the latest edition of the World Footwear Business Conditions Survey, we have asked our panel members about their opinions regarding the health of their businesses in the next six months. Get free access to the report with the main conclusions
National Retail Foundation announces new board members
The National Retail Foundation (NRF), which is part of the National Retail Federation, has welcomed four new members to its board of directors
Employment: stabilisation is the word for the footwear industry
In the latest edition of the World Footwear Business Conditions Survey, two-thirds of our panel members responded that they believe the level of employment will stabilise in the next few months. Get free access to the report with the main conclusions
Spain Retail: clouds are lifting for retail
Despite some concerns about inflation, retailers were optimistic about their prospects for the end of 2023, and data on imports at least confirmed a stabilisation in the footwear trade on favourable grounds. Looking at our previous Retail Flash, it’s now safe to say that the clouds are lifting over retail in Spain. On a different note, online fashion has clearly lost the momentum generated during the pandemic
Footwear industry with optimistic expectations for the future
In the latest edition of the World Footwear Business Conditions Survey, our panel members predicted an increase of 7.3% in footwear prices over the next six months. Get free access to the report with the main conclusions
Festive season fails to boost UK retail sales
UK retail sales rose by 1.7% in the five weeks to the end of December 2023, well below the 6.9% growth recorded in the same period in 2022. Low consumer confidence continues to curb spending
UK: modest rise in retail sales in November
According to the latest figures from the Office for National Statistics (ONS), retail sales in the UK were up by 1.3% in November, a slight upturn from a period of no growth in October
German retailers expect weak Christmas sales
German retailers are not expecting a boost from Christmas sales this year. As geopolitical concerns threaten to dampen consumer sentiment, weak demand continues to weigh on their businesses
Christian Louboutin enters joint venture in India
The French footwear designer is transferring his current operations in India into a joint venture with Aditya Birla Fashion and Retail Ltd (ABFRL), one of the country’s leading retail chains
Austria and Germany continue to see a wave of insolvencies and closures
Richter Schuhe, Europe’s oldest children’s shoemaker, and fashion retail chain Aachener have filed for bankruptcy. Deichmann to close its My Shoes stores in Austria and Germany by the end of 2024
Lower sales and profits at Foot Locker
The US-based retailer has reported another fall in sales and profits in the third quarter of the year, deciding to further cut its guidance for 2023 against a backdrop of ongoing consumer uncertainty
Shoe Carnival cuts full year guidance once gain
The US-based retailer reported soft trends after Labour Day due to unfavourable weather conditions, which resulted in lower sales and profits. Thus, it lowered its full year guidance
Cautious British consumers hold back on spending
Figures by the British Retail Consortium (BRC) suggest that retail growth slowed down in October due to the impact of inflation, with consumers deciding to reduce spending ahead of the holidays-
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