Retail
Spain Retail: good signs for retail in the first quarter of the year
Several indicators showed that consumer confidence is improving, reversing the downward trend seen after the invasion of Ukraine, but overall, consumer sentiment remains rather pessimistic. On the other hand, retailer confidence has been on the rise since January. In fact, the TCF (Textile, Clothing and Footwear) Retail Index (seasonally adjusted, by Eurostat), which had been recovering modestly from June to November 2022, soared thereafter as if Christmas were an uninterrupted season for the entire first quarter of 2023, and even the imports’ behaviour seems to have anticipated a sales boom. Meanwhile, expectations for online sales in 2023 are overall positive, but comparisons with the pandemic period might be misleading
Loewe opens first leather goods repair store
The Spanish luxury label has opened in Osaka (Japan) its first store entirely dedicated to the repair and maintenance of leather articles. A leather artisan will be in the store ready to repair and renew damaged products brought in
Nike reorganizes senior leadership team
The sportswear giant is promoting Heidi O'Neill to the role of President, Consumer, Product and Brand, and Craig Williams to President, Geographies and Marketplace
France Retail: prospects for the clothing and footwear sectors are still far from positive
The stabilization of the pattern of weakening French consumer confidence in the first quarter of the year cannot mask the pessimism that is still being felt in the country, especially in the context of social unrest. Moreover, in this reality of high inflation, neither do price increases hide the contraction in volumes sold nor is it possible to ignore the difficulties faced by companies more exposed to the domestic market due to increased operating costs (rents and energy) or even the stagnation of the online channel. Retail prospects for the clothing and footwear sectors are, therefore, still far from positive
Lemon Jelly opens a pop-up store at Le Bon Marché in Paris
The Portuguese brand, known for its injected, coloured and lemon-scented footwear, can be found at Le Bon Marché Rive Gauche in Paris until the 18th of June in a colourful summer pop-up
Foot Locker lowers yearly guidance
In the first quarter of fiscal 2023, the US-based company saw its sales drop by 11.4% year-over-year due to the challenging macroeconomic backdrop, lowering its yearly guidance in result
JD Sports appoints Dominic Platt CFO
British sportswear retailer JD Sports Fashion has appointed Dominic Platt as its Chief Financial Officer, replacing Neil Greenhalgh who is stepping down in the summer after four years in the role
JD Sports delivers solid performance
According to the group's latest update on fiscal 2023, the UK-based retailer saw its revenue and profit before tax and adjusting items grow year-over-year despite supply chain challenges
Hands-free shoe brand Kizik opens its first store
The Utah-based manufacturer of hands-free footwear opens today its first-ever brick-and-mortar store near Salt Lake City at Fashion Place Mall, one of the state's premier shopping centres
Nordstrom appoints Cathy R. Smith as Chief Financial Officer
Smith joins Nordstrom from Bright Health Group where she has served as Chief Financial and Administrative Officer since 2020. The appointment is effective from the 29th of May onwards
JD Sports set to purchase Groupe Courir
The UK-based retailer announced that it plans to acquire the French Groupe Courir for an enterprise value of 520 million euros as part of the previously outlined growth strategy
Chinese luxury retail rebounds
Chinese buyers are spending more on European brands at a time when the country's economy is rebounding following the lifting of COVID-19-related travel restrictions, says Vogue Business
Foot Locker names former Nike executive to lead WSS brand
The US-based retailer has appointed Blanca Gonzalez to the role of Senior Vice President and General Manager of its WSS banner, effective 15th of May
UK-listed retailers' profit warnings fall to the lowest quarterly total since 2020
In the first quarter of 2023, UK-listed retailers' profit warnings fell to the lowest quarterly total since 2020, but “persistent inflation, high-interest rates and tightening consumer spending” continue to challenge the sector
Primark posts strong first half
The fashion retailer, owned by Associated British Foods, reported that in the 24 weeks to March 2023, its revenue increased by 19%, as compared to the same period last year-
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