Retail
France Retail: So far, back in business, but for how long?
After a lost spring, a season heavily impacted by the COVID-19 crisis, the French retail market reacted well, and summer sales brought a good mood to the business. However, a second wave hitting the country after the summer led to a November with closed stores (non-essential stores were not open for over a month). The enthusiasm of the reopening on the 28th of November led crowds to queue for visiting some stores. However, it is not clear if this will be enough to ensure an end of the year out of the red.
Under Armour with flat quarter's revenue
The Baltimore-based giant has reported third quarter results, marked by flat revenue at 1.4 billion US dollars, driven by growth in the international business and e-commerce
Bonmarché collapses into administration
The retailer based in West Yorkshire has collapsed into administration for the second time in a year. 1 500 jobs are at risk
Debenhams on the verge of closing
The UK-based store chain is reportedly set to close after the latest efforts to rescue it have failed. Rough trading conditions during the pandemic were the final hit for both Debenhams and Arcadia
Stores in England can open 24 hours a day over Christmas
Retailers will be able to extend their daily opening hours from Monday to Saturday in the run up to Christmas and through January. The announcement was made by the Government of the UK
Arcadia declines emergency loan offer from Frasers Group
The owner of several high street retailers, Arcadia, have declined a 50 million British pounds (55.8 million euros) emergency loan offer from Mike Ashley’s Frasers Group, the retail group formally known as Sports Direct
UK Retail: recovery starts to dissipate
The summer brought a breath of fresh air into the UK footwear market after the COVID-19 hit. After the collapse caused by the first wave of the pandemic, Textile, Clothing & Footwear (TCF) Retail Sales have been recovering from April through September. However, the second wave striking in October led TCF retail sales to the downside, closing now 18 pp in the red.
Nordstrom: digital sales account for 54% of total business
The company has announced third quarter results marked by declining net sales from last year. The expansion of some online services might have driven digital business, which now accounts for 54% of total
2020: UK consumer spending to fall by nearly 200 billion British pounds
Total UK consumer spending is expected to fall by 183.6 billion British pounds (14.9%) this year due to the COVID-19 according to new research from Mintel's British Lifestyles report. This equates to a drop in spending of around 6 600 British pounds per household
Caleres to close 133 Naturalizer stores in US and Canada
More than 130 Naturalizer stores in the United States and Canada will be closed by early 2021 as Caleres announces it will adopt a digital sales strategy for the shoe chain
COVID-19 pushes luxury industry to its sharpest fall
Global sales of luxury goods are expected to fall 23% to 217 billion euros this year, the biggest drop in its history and the first since 2009, due to the consequences of the coronavirus pandemic, consultant Bain & Company estimates
Foot Locker: third quarter marked by sales growth
Third quarter comparable-store sales increased by 7.7% and total sales were up by 9.0% in the same period. Notwithstanding the good performance in the last quarter, year-to-date total sales and comparable-store sales are still down
Most profitable quarter reported by Shoe Carnival
Shoe Carnival reported net sales of 274.6 million US dollars for the third quarter. Net income was 14.7 million US dollars, 7% up from similar period in 2019. These resulted in the most profitable quarter in Shoe Carnival’s history
CCC launches ship-from-store to customer door within 60 minutes
Customer needs and the threat of renewed brick-and-mortar retail closures in Poland have led the CCC Group to started testing a new service where a product ordered online would be delivered to the customer’s doorstep within 60 minutes
Retail trade turnover in Latvia grows in September
Calendar adjusted data (at constant prices) compiled by the Central Statistical Bureau (CSB) show that in September 2020 total retail trade turnover rose by 5.9% (compared to similar period in 2019)-
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