GERMANY: Fashion Sales Plunge, Hundreds Of Stores Face Axe
German fashion sales plunged nine per cent year-on-year to $1.2 billion in the first five months of this year, new figures from the Federal Association of German Textile Retailers revealed on Thursday. The group said womenswear sales fell by $692m and menswear sales by $543m amid a high street price war which is likely to lead to around 1,600 clothing retailers going bust by year end.
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