Blog: First festive retail figures
Leonie Barrie | 7 January 2013
With the festivities out of the way, not surprisingly attention is now focusing on the first figures coming through for retailers during the holiday season.
Over in the US, there was a mixed bag of December sales results. Many firms were forced to discount heavily to drive sales in the weekend prior to Christmas, in the hope of making up for weaker demand earlier in the month. But it would seem that last-minute shopping, coupled with post-Christmas bargain hunting, helped propel sales at the end of the month.
Another headwind looming over US consumer spending has also been averted. An agreement hammered out at the eleventh hour managed to avoid the so-called "fiscal cliff", a combination of tax increases and across-the-board spending cuts that had been due to come into effect from the beginning of January.
On the other side of the Atlantic, Christmas trading was "not exceptional" for UK retailers, according to the British Retail Consortium (BRC), with sales seen holding up with last year but driven by discounts. Looking ahead, 2013 is likely to be another tough year for retailers as austerity measures and uncertainty hit consumer confidence.
A stark reminder of the challenges comes in figures showing that the number of UK retailers collapsing into administration jumped 6% in 2012, including Peacocks, La Senza and JJB Sports. This could rise even further in the year ahead, according to business advisory firm Deloitte.
But some firms are making the most of opportunities to build their businesses. US clothing retailer Gap Inc has bought New York-based multi-brand women's wear retailer Intermix in a US$130m deal - its first acquisition since 2008.
And South Korean baby and children's wear retailer Suhyang Networks has been acquired by privately held Fung Retailing. The Hong Kong based firm says the acquisition is in line with plans to expand its portfolio of baby and children brands. It also intends to introduce international and European brands into Korea.
We’re offering a range of daily deals on just-style research this week, with each day offering an opportunity to purchase two different reports at reduced rates....
A lot was written about Amazon on just-style last week, following a prediction that the internet giant could take the top spot for US apparel retailing by 2017. The retailer also posted a surprise sec...
Apparel imports into the US continued on their upward trajectory in May, with China bouncing back from its second decline this year, Vietnam surging and Bangladesh up again. But while eight of the top...
Anger and frustration is brewing in Myanmar over plans announced last week to set the country’s first minimum wage at MMK3,600 (US$3.22) per day. ...
- VF Corp confirms interest in Africa sourcing
- Euro decline weighs on Turkish clothing industry
- G-Star RAW pushes the boundaries of denim
- Will Amazon take over the US apparel market?
- US groups seek workable apparel provisions in TPP
- Metallised thread for "revolutionary" RFID tag
- Manufacturing in China falls to 15-month low
- UK retailers to answer over human trafficking
- VF Corp ups guidance on "strong" Q2
- LF Corp to streamline planning and sourcing
- Ethiopia – the emerging textile and clothing industry
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Management briefing: Factory safety and auditing: The key challenges
- Global market review of workwear - forecasts to 2019
- Sustainable Textiles for Apparel: Fact, Fiction and Future Prospects