With UK inflation rising and costs spiralling, consumer spending power continues to decline. Household disposable income fell by a record £44 a week in June, the eighth consecutive month of decline, a report shows.
There’s been speculation for some time and it’s finally been confirmed — e-tail giant THG has ended its deal with Japan’s Softbank and the latter’s massive investment in THG’s Ingenuity arm won’t now go ahead.
Budget footwear retailer Shoe Zone issued a trading update less than a month ago, but it delivered another on Tuesday and unlike some updates that come in quick succession, this one didn’t contain any bad news.
Italy’s Benetton has named Andrea Incontri as Creative Director of its women's, men's and children's collections. The SS23 collection, the first to be designed by him, will be shown in September at Milan Fashion Week.
Alibaba will apply for a primary listing in Hong Kong and keep its U.S. listing, the first big company to take advantage of a rule change allowing Chinese firms with dual class shares to seek dual primary listings.
Balancing supply with demand could become a critical factor in the months ahead. And online fashion retail giant ASOS is said to be delaying some autumn orders as customers are expected to cut back in a spending squeeze.
Hotter Shoes parent Unbound Group has raised around £4.3 million to invest in its growth strategy, particularly concentrated on expanding its footwear retail association with UK garden centre group Notcutts.
Free-spending tourists in Europe are expected to drive brisk second quarter sales at French luxury groups LVMH, Gucci-owner Kering and Hermes, helping to offset the impact of disruptions in China from Covid restrictions.
JD Sports Fashion had some good news on Friday as it released a short trading update head of its annual general meeting with total sales in the group's like-for-like businesses 5% ahead of the prior year