Blog: Leonie BarrieWeather 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.


BLOG

Digital pieces of the fashion supply chain take shape

The digital pieces of the fashion supply chain puzzle are starting to come together, according to executives at the recent Texprocess apparel technology trade show in Frankfurt, Germany....

BLOG

Latest supply chain leaders?

Swedish fast-fashion retailer H&M, Zara brand owner Inditex, and sportswear giant Nike are not only among the world's leading brands, they also have some of the best supply chains too, according to a ...

BLOG

Finding a solution to the sustainability problem

The key message at this year's Copenhagen Fashion Summit was that the global apparel and textile industry needs to take a holistic view on how it tackles sustainability and responsible sourcing – with...

BLOG

Industry welcoming move to renegotiate NAFTA

The US textile industry has welcomed President Donald Trump's decision to renegotiate NAFTA, saying it is in America's national interest to modernise the trade agreement....

just-style homepage



Forgot your password?