UK: GUS Home Shopping Shows Six Per Cent Decline
Great Universal Stores (GUS), the catalogue retailer, blamed a sustained weakness in demand for clothing and increased promotional activity, such as markdowns, for the continuing poor performance of its UK Home Shopping business.UK Home Shopping year to date sales to 22 July declined by 6 per cent over the year to £1.684m, while trading profits plunged by £85m to £21m.GUS' European Home Shopping business also did badly with trading profit falling by 15 per cent to £25.1m, reflecting the drop in the euro. The company, whose catalogues include Kays, Choice and Great Universal, said that growth in the highly competitive UK discount retail sector and loss of customers due to greater credit card penetration among its traditional customer base were the key factors behind the depressed sales performance.The scene in Europe was similar to the UK. Wehkamp, GUS' Netherlands-based catalogue, faces increased competition from domestic and international retailers.It is countering this situation by moving rapidly into e-commerce.Sales at Burberrys however, were up on last year. The upmarket retailer, which is regarded as non-core, showed strong growth in its retail stores and in wholesale.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- Hard hit Turkish industry is not knocked out
- "Power of the many" drives change at Otto Group
- China leads US apparel sources with falling prices
- Vietnam grows share of US apparel imports in 2016
- US apparel sector braces for potential cost hikes
- US Q4 in brief – Foot Locker, Nordstrom, Carter's
- Bangladesh crackdown has cost garment sector $100m
- Inditex and H&M boycott Dhaka Apparel Summit
- Macy's will "do the right thing", says Lundgren
- JC Penney to close 140 stores amid lower sales
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022