Blog: UK high street takes a hit
Leonie Barrie | 30 June 2011
There's no doubt that times are tough on the UK high street, and if evidence was needed then look no further than today's news that department store chain TJ Hughes has gone into administration, putting 4,000 jobs at risk. Its decision comes hot on the heels of a similar move by women's fashion retailer Jane Norman where, despite the sale of 33 of its 94 stores to fellow retailer Edinburgh Woollen Mills, more than 1,000 jobs still remain under threat.
Of course the combined effect of tough trading conditions, rising debts and high rents are not unique to fashion retailers. Indeed, in the last few days chocolate firm Thorntons has said it is closing 120 stores, furniture retailer Habitat was placed in administration, and the owner of the Comet electricals retailer is mulling a sale.
But clothes are among the first purchases to go when shoppers - themselves facing low wage growth, a tight squeeze on disposable income, and concerns about job security - cut back on non-essential items in order to pay for higher food and petrol prices instead.
And even chains like Debenhams, which today bucked the high street gloom to post a 3% rise in like-for-like sales so far in its second half admits its performance has come at a cost: cutting prices and increasing promotions to drive revenues have eaten into gross margins.
Worryingly, observers are finding it hard to be optimistic about any respite over the next year either, warning the underlying problem of low consumer confidence will be hard to fix.
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
- G-Star RAW pushes the boundaries of denim
- Will Amazon take over the US apparel market?
- US groups seek workable apparel provisions in TPP
- Pakistan textile mills fear rash of closures
- Metallised thread for "revolutionary" RFID tag
- VF Corp ups guidance on "strong" Q2
- Manufacturing in China falls to 15-month low
- Under Armour secures Germany and Austria deals
- Millennials "changing the game" for hosiery
- Ethiopia – the emerging textile and clothing industry
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Global market review of workwear - forecasts to 2019
- Management briefing: Factory safety and auditing: The key challenges
- Global market review of denim and jeanswear – forecasts to 2020