Inditex’s Zara has seen its UK profits falling even though sales there have continued to rise. Full-year 2018/19 sales rose around 10% to £772.5m, but profits were halved as selling and distribution costs rose 7%.
It may seem counter-intuitive to some people to pay in advance for a service that saves you money on future product orders that you might not actually place, but such schemes are ever more popular with UK consumers.
It’s the end of an era as Karen Millen has disappeared from UK high streets. New owner Boohoo has now closed all Karen Millen stores after running clearance sales since buying the brand, along with Coast, in August.
Brexit and global trade wars may be restraining the outlook for the consumer economy internationally but fashion marketers in three key European economies are focused on cross-border expansion for next year.
Boohoo’s results statements are always a revelation, if only to see by just how big a margin the group is smashing the market, and its half-year report was no different. The latest six months were yet another triumph.