Retail
UK Retail: good signs for the run-up to Christmas
The cold weather in July did not bring good news for the UK retail sector, but the following two months spiced things up again. Fashion retail sales appear to be back on track with the wider economy, as continued falling inflation has led to lower prices. Consumers are still reluctant to spend given the difficulties of recent years, but the challenge for retailers is now to keep up and not fall behind again in order to boost demand in the months leading to Christmas
A favourable September for UK retail
As inflation fell to its lowest level in three and a half years, UK retail sales rose by 3.6% year-on-year in value terms in September, according to the latest ONS figures
Germany Retail: dark clouds are hanging again over the footwear sector
The positive signs on the horizon for the footwear retail sector reported in the previous Flash were short-lived. Sales in the first half of the year were not what retailers had hoped for, and the continued stabilisation of shoe prices shows no signs of turning the situation around. Against a negative macroeconomic backdrop, consumer confidence has been downward, and retailers face many challenges, including business closures and labour market instability. Footwear imports have started to fall, pointing to a possible crisis in the sector
US holiday retail sales expected to rise up to 3.3% in 2024
Consulting firm Deloitte forecasts that holiday retail sales will increase between 2.3% and 3.3% in 2024, driven by a projected 7% to 9% growth in e-commerce as consumers continue to shift to online
International sales soar at SportsShoes.com
The UK-based footwear and outdoor gear e-commerce retailer has reported a 22% increase in international sales in the first half of its fiscal year, as compared to the same period of last year
Spain Retail: the future looks brighter for retail
Fashion sales finally picked up in July and August and are back in the green, after a worrying March. The truth is that the prospect of better economic growth and recent falls in inflation and unemployment have reassured Spanish consumers and given them a sense that the future may be brighter. All in all, this has led retailers to stock up in the hope that sales will continue to rise in the coming months. If these factors remain in place, the footwear sector is likely to end the year on a positive note
US retail sales continue to increase despite slower employment growth
According to the CNBC/NRF Retail Monitor, August retail data showed steady growth, with total sales up by 2.11% year-on-year, led by solid performances in the online, clothing, and health sectors, even as job growth slowed
France Retail: still a blurred picture for footwear retail
French footwear retailers seem to be at a crossroads trying to figure out what will happen next. Prices are flat, sales are slow, consumer confidence is in general volatile, and stocks are building up (leading to a fall in imports). There was, however, a small improvement in consumer confidence in August, in line with the downward trend in inflation, suggesting that a much-needed relief may be reaching French households. Still, this may not be enough to boost retail sales this year as political uncertainty continues to cloud the horizon
US: shoe prices decline for the first time in a year in August
According to the latest data from the Footwear Distributors and Retailers of America (FDRA), US footwear prices fell in August for the first time in a year, in line with the general inflation trend
UK retail sales rose slightly in August
UK retail sales increased just by 1% year-on-year in August, driven by summer shopping, reflecting the challenging retail environment that is likely to prevail for the rest of the year
Schuh introduces single-shoe purchase for disabled customers
Schuh, the footwear retailer owned by Genesco, has introduced single-shoe purchases across its store network to meet the needs of customers with limb differences or disabilities who require only one shoe
Deflationary trend helps revitalise UK fashion retail
The UK fashion retail sector benefited from a deflationary trend in July, according to the British Retail Consortium (BRC), giving consumers a temporary respite from recent difficult months
US retailers try to get ahead of shipping disruptions
Despite the risk of being stuck with excess inventory, US retailers are accelerating overseas orders to get ahead of worsening shipping disruptions amid rising freight rates and growing geopolitical concerns
Ted Baker to close all its UK stores
Ted Baker is planning to close all its UK stores within weeks, according to multiple reports. Hundreds of staff at the fashion retailer have reportedly been told they will lose their jobs
US Retail: there’s still a great deal of uncertainty
There are still no solid signs of a recovery in the footwear retail sector. Despite mirroring last year’s trend, sales are consistently lower than in 2023, and footwear imports continue their downward trajectory. This may suggest that prices have not yet reached a level where consumers will bite. The truth is that the US economy has made great progress and inflation has eased considerably, but not enough to reassure consumers, who are still uncertain about what will happen next. And when that happens, discretionary items always pay the price-
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