World Footwear

Retail

Japan Retail: imported inflation troubles retail despite positive signs on consumer mood

Premium ContentJul 18, 2022 / Japan
Despite positive signs regarding the consumers’ mood, which is leading the BoJ to focus on boosting domestic demand, retailers are facing imported inflation unseen for decades. So, as the yen sinks, it is more accurate to wonder whether Japanese companies’ margins can resist for much longer to fully pass on rising costs to consumers. In addition, the sanctions imposed following Russia’s invasion of Ukraine will certainly take a toll on retail, alongside persistent supply chain disruptions caused by the pandemic, even as the country moves away from those times. Since expenses on energy and food cannot be readily cut, the slack demand for footwear already observed is far from being a surprise

US Retail: consumer confidence collapses while footwear retail slowly loses its drive

Premium ContentJul 12, 2022 / World Footwear Reports
Despite the declining trend of the monthly shoe store retail sales and persistent macroeconomic headwinds such as supply chain disruptions and the continuous rise of inflation, US companies are displaying some optimism towards the remaining year. That is not the same as saying there is no caution or concerns on the horizon. The pace of the increase in footwear prices is in fact slowing, suggesting that the pressure of demand might be no more at work in the US. The critical point is that consumer confidence collapsed due to inflation and the war in Ukraine, which might restrain consumer spending this year

Spain: price is the main factor consumers look at when doing a purchase

Jul 12, 2022 / Spain
According to the Association for Media Research (AIMC), price was the main factor considered by Spanish when buying clothing and accessories last year, followed by quality and comfort

JD Sports appoints new Chairman

Jul 11, 2022 / United Kingdom
The UK-based retailer announced that Andrew Higginson has been named Chair of the group, effective today, after a thorough search process carried out by the Board

DSW tests new format store ahead of back-to-school season

Jul 7, 2022 / United States
The footwear chain, owned by Designer Brands, has been testing since May in its Hedwig Village store in Houston a new store format to better engage with the youngest consumers

Ferragamo opens NFT booth in Soho's concept store

Jul 4, 2022 / Italy
The space, conceived as a new retail experience and creative hub, includes a hologram sneaker customization tool and an immersive NFT boot that allows customers to create their digital artwork

Germany Retail: war and inflation raise concerns for retail

Premium ContentJul 1, 2022 / World Footwear Reports
Despite the lifting of COVID-19 restrictions in February, the declining trend of the TCF (Textile, Clothing, and Footwear) Retail Sales Index is clear and is aligned with the plunge in consumer confidence. The war in Ukraine and the high inflation are playing a major role in the severe blow inflicted on both consumers’ and retailers’ confidence. Meanwhile, footwear consumer prices have slightly increased in March, and it is foreseeable that companies continue passing on higher costs to consumers in the near future

Shanghai: fashion retailers struggle to clear stock

Jun 30, 2022 / China
Almost a month since Shanghai lifted the strict COVID-19 lockdown, stores are struggling with piles of unsold stock, as wary consumers avoid shopping districts

Zalando cuts outlook as macroeconomic conditions worsen

Jun 24, 2022 / Germany
The online retailer revised its guidance for fiscal 2022 due to the deterioration of macroeconomic conditions over the second quarter. EU consumer confidence index decreased further in June

US: high levels of inventory worry retailers

Jun 23, 2022 / United States
Retailers overestimated consumer demand when making inventory decisions for 2022. Now, they are expecting that holidays and back-to-school shopping will help them ease the pressure

Spain Retail: sales increase in the first quarter despite tricky macro-environment

Premium ContentJun 22, 2022 / World Footwear Reports
Following an abrupt drop in consumers’ confidence in March due to the war in Ukraine, on top of an alarming inflationary climate, Spanish consumers appear to regard the current situation as temporary. In fact, retail sales of clothes and accessories have increased by 19.1% in the entire first quarter of 2022, despite less generous discounts thanks to this year’s cost inflation. Margin protection is certainly at the top of retailers’ agenda now. Meanwhile, the online and physical retail are somehow at a truce

JD Sports doubles profit

Jun 22, 2022 / United Kingdom
The retailer posted a record profit before tax and exceptional items in fiscal 2022, as well as revenue growth of 38%, year-over-year, reaching 8.56 billion British pounds (9.95 billion euros)

UK: online retail growth in freefall in May

Jun 18, 2022 / United Kingdom
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

Jun 17, 2022 / United Kingdom
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

Jun 16, 2022 / Argentina
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
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