Blog: Weather dampens sales
Leonie Barrie | 20 July 2007
M&S’ chief executive Stuart Rose is pretty cynical at the best of times, but even he must rue the day last November when he famously said “weather is for wimps,” dismissing the favourite excuse of poorly-performing retailers. Since then, not only has the UK high street been forced to battle one of the wettest summers on record, along with strong comparative figures with the football World Cup and warm weather at this time last year, but five interest rate rises also mean that mean debt and mortgage repayments are eroding consumers’ disposable incomes.
Figures released last week by the British Retail Consortium show that some shoppers have been lured back into stores by price cuts and, ironically, that footfall in some department stores and malls was higher than expected as consumers sought to escape the miserable weather outside. But of course summer ranges and swimwear were the last things on their minds; instead there was an uncharacteristically brisk trade in formal wear, umbrellas and rain coats.
So for all the best design, merchandising, planning and sourcing systems that the apparel industry can conjure up, it seems the weather and the Bank of England’s monetary policy continue to be the real business benchmarks. And as more interest rate rises loom, and the impact of high discounting on margins will undoubtedly be felt as the year progresses, it’s likely there will be more bad news on the way.
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
- Trump trade policy – Who knows what he'll do?
- Planning is key to an effective inventory strategy
- How would end of NAFTA affect US apparel industry?
- US Q3 in brief - G-III Apparel, Express
- Bagir exports first trousers for H&M from Ethiopia
- Film documents Cambodia garment workers' stories
- Esquel efficiency drive continues to boost brands
- Pakistan suspends India cotton imports
- 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