Retail sales throughout the Christmas period saw the worst performance since 2010, coming dramatically below economists’ already cautious forecasts. The latest figures from the Office for National Statistics (ONS) have revealed a worrying picture of the high street, with retail sales volumes falling 1.5 per cent month-on-month over one of the most vital periods for the industry. Analysts had predicted a 0.6 per cent sales decline.
Shares in Bonmarché have taken a beating after the value womenswear retailer reported a slump in Christmas sales amid what it called a “challenging” clothing market. During its quarterly update for the 13 week period ending December 30, in-store like-for-like sales took a sharp decline of 9.7 per cent while total sales dropped 5.5 per cent. Shares in the retailer dropped by 21 per cent following the the trading update
Asda has become the first Big 4 supermarket to band the sale of energy drinks to under 16s as Aldi follows close behind. From March 5 Asda will impose an age restriction on 84 high-caffeine products requiring anyone wishing to purchase them to show identification. “We take our responsibilities as a retailer seriously and work hard to ensure we get the balance right between offering choice and doing the right thing,” Asda’s chief customer officer Andrew Murray said.
Carpetright shares have taken a hit after a significant drop in sales during the weeks after Christmas prompted the retailer to issue a profit warning. Shares were down by 47 per cent early this morning on the London stock exchange after Carpetright’s quarterly update for the 11 weeks ending January 13 revealed like-for-like sales had fallen 3.6 per cent. Total group sales also dropped 2.3 per cent, with the flooring and furniture retailer blaming it on “reduced consumer confidence” and the “significant deterioration” in UK trade that came after positive start to the third quarter
Louis Vuitton is set to part ways with artistic director Kim Jones after he shows his autumn 2018 collection in Paris today. A British national, Jones has been the men’s artistic director of the luxury fashion and accessories giant since 2011. In an Instagram post, Jones thanked the brand and retailer for “seven wonderful years” and attributed former creative director Marc Jacobs for giving him the opportunity.
An online fashion retailer that specialises in luxury womenswear designers from Latin America is poised to open its first-ever shop in London. Blaiz will open its first permanent bricks-and-mortar shop amid the Sloane Stanley Estate at 227 King’s Road, Chelsea, following the success of their pop-up stores in the same location. The 2485sq ft store is due to open its doors in February.
Marks & Spencer has recruited a new marketing director for to help bolster its food business as it seeks to bring the division back on track in light of recent underperformance.
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H&M has appointed a diversity manager in response to the global backlash it endured from using a black child to advertise a hoodie with the slogan “coolest monkey in the jungle”. The Swedish fashion giant said Annie Wu, currently H&M’s global manager for employee relations, will become its new global leader for diversity and inclusiveness for the H&M Group and will be based at the retailer’s headquarters in Stockholm.
Arcadia Group has dealt a “significant hit” to clothing suppliers by demanding a lower price for any orders made, in signs the fashion giant could be struggling.