Blog: New Year, bad news
Leonie Barrie | 5 January 2009
We’re less than a week into the New Year and already there’s another slew of bad news from the high street – confirming fears that disastrous holiday sales will spark a domino effect of store closures and bankruptcy filings over the next couple of months.
Maternity wear retailer Blooming Marvellous was this weekend reported to be on the verge of collapse, and Adams Childrenswear today shut 111 stores with the loss of around 850 jobs, just five days after calling in the administrators.
The next fortnight will also see trading updates from the likes of Marks & Spencer, Next, Debenhams, Ted Baker and JD Sports, and there are fears that the recent stampede of shoppers taking advantage of unprecedented discounts still won’t have boosted sales enough to help margins. After all, the logic says, if you cut prices in half then you’ll have to sell twice as much to make up the difference. And with the best will in the world, that’s unlikely to have happened.
M&S, which reports results on Wednesday, is widely expected to announce one of its worst ever Christmas trading performances accompanied by another profit warning. The retailer is one of the UK high street barometers, so its performance will be keenly watched. It was also one of the most high profile discounters over the festive season with several one-day sales in which it cut prices on all clothing items by 20% in an effort to stimulate flagging sales.
But industry observers believe the move is unlikely to have had the desired effect – and are expecting an 8.5% drop in sales of general merchandise (which includes clothing and footwear) in the 13 weeks to 27 December.
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...
- Why do modern robotics elude sportswear makers?
- Traditional financing is a misfit for fast fashion
- Bagir CEO says suit-maker is back on track
- Mexico makers bullish on Trump's proposed tariffs
- How would end of NAFTA affect US apparel industry?
- Bagir exports first trousers for H&M from Ethiopia
- US Q3 in brief - G-III Apparel, Express
- Fruit of the Loom CEO Medlin dies suddenly
- Crystal expands empowerment project to male staff
- Film documents Cambodia garment workers' stories
- Outdoor performance apparel 2016: A broader perspective
- Global market review of lingerie – forecasts to 2022
- Global apparel markets: product developments and innovations, October 2016
- Footwear Top 5 Emerging Markets Industry Guide_2016
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack