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.
Continuing our look at what lies ahead for the apparel industry and its supply chain in 2017, the panel of industry experts consulted by just-style last week tackled likely shifts in the sourcing land...
This week our focus turns to first thoughts from a panel of industry experts consulted by just-style on the challenges and opportunities likely to face the apparel supply chain in 2017, with prospects...
Welcome back after the holiday break, and from the team here at just-style I’d like to wish all our readers a happy and prosperous New Year....
Apparel sourcing is a complex process built on a mix of location, logistics, lead-time, price, compliance, risk and reliability. And it's in a constant state of flux as retailers, brands and manufactu...
- Trump and the apparel industry – Infographic
- How US border adjustment tax could affect apparel
- British Brexit plans prioritise tariff-free trade
- Apparel factory auditing is in the firing line
- Outlook 2017 – Challenges and opportunities
- Cambodia clothing exports at risk from Brexit
- Apparel brands urge Bangladesh PM to address wages
- New project to digitalise European fashion chains
- Brands need to tackle Turkey factory refugee abuse
- JC Penney to roll out hundreds of Nike "shops"
- Outdoor performance apparel 2016: A broader perspective
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Anti-odour clothing: fresh fashion for an active lifestyle
- Global apparel markets: product developments and innovations, October 2016
- Global market review of lingerie – forecasts to 2022