Blog: October retail sales cooled
Leonie Barrie | 19 November 2012
Retail sales on both sides of the Atlantic cooled in October as shoppers cut back on purchases including clothing and footwear - although observers are confident spending will pick up in time for the holiday shopping season.
Retail sales volumes in the UK fell 0.8% in October, compared with the month before. Sales at textile, clothing and footwear stores tumbled 2.3% as consumer confidence dropped to a six-month low.
US retail sales, meanwhile, were battered by a number of factors, including Hurricane Sandy, economic worries and concerns over looming tax rises and spending cuts. October sales at clothing and clothing accessories stores were 0.1% lower than the month before.
But specialty clothing retailer Gap Inc raised its full-year earnings guidance after third-quarter profit surged 60% thanks to higher sales of new and revamped product lines. The San Francisco-based business said the results underscore its continued progress on key strategies - and that the next step in its transformation is to become a truly global brand.
And US-based online retailer and auction house eBay is setting its sights on fashion-conscious consumers in China after teaming up with Chinese luxury online retailer Xiu.com to launch a new eBay Style website. The site will feature up to 5,000 apparel, shoe, accessories, health and beauty brands.
Retailer Marks & Spencer has outlined some of the latest milestones reached under its Plan A ethical programme, including using sustainably sourced cotton in 900 products and saving 865 tonnes of clothing from going to landfill. The company also says 35% of the products it sells - over a billion items a year - now have a Plan A eco or ethical attribute.
And supermarket group Tesco is taking steps to boost productivity in the Bangladeshi apparel industry by investing in a new training centre to teach leadership skills and production techniques to garment workers. Tesco says it will contribute to the country's long-term competitiveness by improving conditions, pay and opportunities.
And a group of Hong Kong based buyers representing some 20 global brands and retailers has visited the country as part of a wider regional tour to explore sourcing alternatives to China.
Fashion retailer H&M and UK based glove and leather manufacturer Pittards both say they are monitoring the situation in Ethiopia closely after the country's government declared a state of emergency af...
Increasing competition for garment sourcing contracts is seeing China not only being challenged by other countries in Asia, but by sub-Saharan African and even Russian suppliers too. And it is pushing...
The monthly minimum wage for workers in Cambodia's textile, garment and footwear sector is set to rise to $153 from January next year, following a vote on the issue last week. The increase marks a ris...
The results of two highly-anticipated initiatives in the sportswear sphere were revealed last week: the launch of Under Armour’s new UAS lifestyle brand and the first pair of running shoes created at ...
- Fashion fit for the future – strategies for speed
- How PVH is paving the way for connected apparel
- Digitisation to drive new apparel-making models
- Under Armour Lighthouse will disrupt production
- Pakistan industry seeks help to kickstart exports
- US Q3 in brief - Rocky Brands, Gymboree Corp
- Child refugees found in Turkey apparel factories
- Chinese manufacturer invests $20m in US facility
- Managing change in the move to new tech tools
- Hong Kong's Winds Group to open Haiti factory
- Africa-Med strategic sourcing review – comparing East Africa, North Africa and Turkey
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global Sports and Fitness Wear Market 2016-2020
- Global market review of lingerie – forecasts to 2022