UK: Clothing retailers see volumes slump
UK clothing retailers have recorded the sharpest volume declines in two years, as the country's retail sector continued to be hit by weak consumer confidence.
The CBI today (25 August) said that clothing retailers saw sales volumes fall 27% on averagte during Augst, the lowest fall since August 2009 when they fell 35%. However, sales of footwear and leather rose 38%, the first rise since May.
According to the latest Distributive Trades Survey found that retailers were the most negative they have been about the general business situation since February 2009.
It found that 46% of retailers saw volumes fall in the two weeks to 16 August, while another 31% saw them rise over the period. The resulting fall of 14% was the most negative since May 2010, but was in line with expectations of a 12% fall.
"As expected, August was a tough month on the high street. Sales volumes fell at a pace not seen in over a year, as consumers have continued to see their real incomes squeezed by a combination of inflation and weak wage growth, said CBI Distributive Trades Panel chair and Asda COO Judith McKenna.
"This survey suggests that prices will rise more slowly in the coming months, and savvy retailers will continue to offer consumers the lowest prices possible, but with energy and commodity costs still high, families' spending power looks like being constrained for some time."
The Indian government's decision to relax restrictions on foreign investment in the country's retail industry doesn't mean the end of the debate, writes Devangshu Dutta....
Supergroup today revealed ambitious plans to ramp up the number SKUs it offers, while improving the quality and sophistication of its products, at the same time as reducing prices and increasing margi...
Leading high street clothing retailers Tesco and Marks & Spencer are sponsoring the latest phase of a national sizing survey that will for the first time provide comprehensive data on the changing siz...
UK footwear retailer Office today (31 January) announced strong Christmas sales of 26% for the five weeks to December 3....
- Cotton supply chain transparency an ongoing issue
- Supply chain takeaways from Sourcing at MAGIC
- No simple way to be sustainable, says SAC CEO
- Why voters don’t want more global supply chains
- What's 3D-printing doing for apparel and footwear?
- Li & Fung eyes supply chain speed in 3-year plan
- Nike and Crystal Group "doing well by doing good"
- What does supply chain mapping really mean?
- EU clothing imports from China continue to plunge
- Zara USA faces US$5m deceptive pricing lawsuit
- Too Many Standards
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Under Armour, Inc. (UA) - Financial and Strategic SWOT Analysis Review
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras