Blog: Black Friday a bargain bonanza
Leonie Barrie | 21 November 2011
As US retailers head towards Black Friday - the busiest shopping day of the year - at the end of this week, they can take some comfort from commerce department data showing sales at clothing stores rose 5.8% in October compared to last year. But while the numbers suggest American shoppers are continuing to spend, October's figures dipped 0.7% on the previous month.
Meanwhile, other data forecasts Black Friday shoppers will increasingly use social media and the internet to pinpoint discounts and promotions this year. A new survey by the National Retail Federation expects around 152m people to shop over the three-day weekend, up more than 10% on last year's total of 138m. But more than half will wait to see if the bargains are worthwhile.
A mixed bag of earnings results released last week included profit falls at Gap Inc, Abercrombie & Fitch, Perry Ellis and Destination Maternity, whilst gains were seen at Target, Limited Brands, Foot Locker, Children's Place, Wet Seal and Shoe Carnival.
Unseasonably mild weather and pre-holiday promotions also hurt UK sales of winter merchandise at clothing retailers, according to official figures released last week, with year-on-year sales volumes falling by 1.0% at stores selling clothing and footwear. As if this wasn't bad enough, they are being warned to expect flat sales this Christmas, with no sustainable uptick in business likely until 2013 at the earliest.
Faced with continuing uncertainty in the eurozone, teen apparel retailer Abercrombie & Fitch is adamant its international growth plans remain on track despite seeing a softening in its European business. International revenues rose 56% in the third quarter, but lagged behind the 74% gain seen in the second quarter. The firm also says it intends to raise prices at its US stores to try to mitigate the effects of higher costs.
But with more and more own label apparel retailers eyeing growth in Asia and Latin America to make up for shortfalls in their domestic markets, will a business formula that's running out of steam at home still work abroad?
French luxury and sporting goods group PPR believes its "green" profit and loss accounts will serve as a catalyst to develop a more sustainable business model, as well as giving it a competitive edge. The initiative, which was spearheaded by its Puma brand earlier this year, will now be rolled out across all of its labels by 2015 to provide a monetary valuation of the environmental impacts of its business operations and supply chain.
Some of just-style’s more eagle-eyed readers might have noticed a small change to the menu bar on the homepage: the addition of the word re:source. Yes it might be a small change – but it marks the co...
Over the past week just-style has continued to try to unravel the potential ramifications of Donald Trump’s election as the next president of the United States....
One event dominated the international airwaves last week, and on just-style too we took a closer look at the surprise election of Donald Trump as the 45th president of the United States....
As the Brexit roller-coaster continues to twist and turn, and the US presidential election campaign nears its unpredictable and possibly protectionist end, there's no doubt these events – and the perc...
- Steps to piloting living wage in garment factories
- US apparel retailers' November 2016 sales roundup
- Planning is key to an effective inventory strategy
- Why do modern robotics elude sportswear makers?
- Software for financial planning and operations
- Esquel efficiency drive continues to boost brands
- US Q3 in brief – Genesco, G-III Apparel, Express
- Columbia waterproof jacket first made without PFCs
- Myanmar garment industry "lacking labour rights"
- North Face parka features synthetic spider silk
- Outdoor performance apparel 2016: A broader perspective
- Footwear Top 5 Emerging Markets Industry Guide_2016
- Global market review of lingerie – forecasts to 2022
- Global apparel markets: product developments and innovations, October 2016
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack