United Kingdom
JD Sports appoints new Chairman
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
UK: Consumer confidence drops to a record low
Consumer confidence in the UK dropped in June to its lowest level in 48 years amid soaring prices, the prospect of strikes and rocketing inflation. Mood is gloomier than the one recorded at the beginning of the pandemic
Burberry renews partnership with Myhtical Games
The luxury group revealed its second NFT collection with Mythical Games in its flagship Blankos Block Party. The collaboration includes social spaces for communities within the game
JD Sports doubles profit
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)
Unemployment rate in the UK hits historic low
This was revealed by the Office for National Statistics (ONS). The UK unemployment rate is now close to a 50-year low point, having dropped by 0.2% to 3.8% for February to April 2022
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
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
Dr. Martens launches trial resale scheme
The British footwear brand announced that it will partner up with Depop, a European online second-hand marketplace, in a trial programme to sell repaired and refurbished shoes
UK: nearly half of businesses affected by price increases
Almost half of businesses reported an increase in the prices of materials, goods, or services bought and sold in April. Nearly a third expects to raise the prices of goods and services this month
UK Retail: retail prospects for the next months lean to the downside
In the first quarter of 2022, TCF (Textile, Clothing & Footwear) Retail Sales Index returned to pre-pandemic levels, showing that it is no longer sensitive to COVID-19. However, its positive behaviour is somewhat puzzling: consumer pessimism continues to plunge, most likely due to the rising inflation, which hit a record 7% in March, placing pressure on manufacturers’ costs. In addition, it is yet early to quantify the impact of Russia’s invasion of Ukraine on European retail markets
Capri Holdings supports creation of the Versace Foundation
The company has guaranteed 10 million US dollars for the new foundation. The aim of the initiative is to support equality, wellness and safety for the LGBTQIA+ community
Vivobarefoot partners with kids wear rental service Bundlee
The sustainable footwear brand established an exclusive partnership with Bundlee, a UK based-rental platform for children’s clothing, which is for the first time expanding into footwear
Capri with revenue and earnings increase
The luxury fashion group reported that revenue and earnings for the full year of 2022 exceeded expectations. Total revenue amounted to 5.65 billion US dollars
Dr. Martens posts strong fiscal 2022
The British footwear brand announced that it sold a record number of pairs (14.1 million) in fiscal 2022, which was translated into revenue growth of 18%, as compared to the prior fiscal year-
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