UK retail watchers last week breathed a collective sigh of relief as the weather finally begin to cooperate with the fashion seasons, with demand for clothing and footwear helping to lift retail sales growth by 1.5%.
The colder September gave clothing retailers a “major boost”, with
consumers stocking up early on coats, boots and knitwear, according to
the BRC/KPMG sales monitor.
Burberry's first-half results also offered some relief as the luxury
brand recorded an improvement in like-for-like sales after it had
earlier issued a profit warning at the 10-week point of its second
quarter. CFO Stacy Cartwright said that while footfall was down, its
more “aspirational luxury customer” has been harder hit by the
Speculation about where former Marks & Spencer general merchandise
boss Kate Bostock would land was laid to rest last week, with her
appointment as executive director of product and trading at online
clothing retailer Asos.
UK: September sales growth driven by clothing and footwear
In the money: Burberry says big spenders continue spending
UK: Bostock joins Asos as product director
Uniqlo owner Fast Retailing again signalled its ambitions last week,
saying it expects sales to top JPY1trn in 2013, as it continues to
aggressively pursue growth outside its Japanese home market. The
announcement came as the company recorded a 31.8% increase in
full-year income to reach JPY71.6bn.
JAPAN: Fast Retailing expects sales to break JPY1trn barrier in 2013
However, the news for Australian surfwear brand Billabong was less
positive, as private equity firm TPG Capital withdrew its AUD1.45 per
share bid for the company last week.
AUSTRALIA: TPG Capital drops Billabong bid
Meanwhile, Puma revealed in its latest Product Environmental Profit
and Loss findings that the environmental impact of its biodegradable
InCycle Basket shoe was 31% less than its conventionally made Suede
shoe. However, costs were offset by higher import duties on the
biodegradable plastic used in the product. Chairman Jochen Zeitz wants
governments to reduce import duties on synthetic materials in an
effort to encourage the manufacture of greener shoes and clothing.
GERMANY: Puma seeks lower taxes on synthetics in green push
Until next time...
News and insights editor