Retail Italy's seasonally-adjusted Jan retail sales value index dips 0.1% MoM 18 Mar '24 1 min read Pic: Adobe Stock Insights Estimates for seasonally-adjusted index of value retail sales in Italy fell by 0.1 per cent month on month (MoM) in January and volume contracted by 0.3 per cent MoM. The country's retail trade value grew by 1 per cent year on year (YoY) in the month, showing an upward trend since February 2021, while volume sales fell by 2.1 per cent YoY during the month. Estimates for seasonally-adjusted index of value retail sales in Italy slightly fell by 0.1 per cent month on month (MoM) in January this year and volume contracted by 0.3 per cent MoM, according to official statistical agency Istat.In the three months to January, value of retail sales grew by 0.3 per cent quarter on quarter (QoQ) and volume of sales decreased by 0.1 per cent QoQ.Estimates for seasonally-adjusted index of value retail sales in Italy fell by 0.1 per cent month on month (MoM) in January and volume contracted by 0.3 per cent MoM. The country's retail trade value grew by 1 per cent year on year (YoY) in the month, showing an upward trend since February 2021, while volume sales fell by 2.1 per cent YoY during the month.The country’s retail trade value grew by 1 per cent year on year (YoY) in January, showing an upward trend since February 2021, while volume sales fell by 2.1 per cent YoY during the month.Large-scale distribution was up by 1.4 per cent YoY, small-scale distribution grew by 0.5 per cent YoY and non-store retail sales dropped by 0.4 per cent YoY during the month.Online sales grew by 1 per cent YoY during the month. Fibre2Fashion News Desk (DS) More Retail News - Italy...

In Amsterdam, Tchai created a dynamic, scalable retail experience for the shipping giant that places visitors at the heart of the brand.

Retail UK retailer Tesco's sales surge 5.3% in FY23 14 Apr '23 2 min read Pic: Alastair Wallace / Shutterstock.com Insights Tesco's total group sales for FY23 reached £57.7 billion, a 5.3 per cent rise from the previous year.Like-for-like retail sales growth was 5.1 per cent, with UK and ROI sales up 4.7 per cent.Total retail adjusted operating profit was down 6.3 per cent.Tesco expects to deliver a broadly flat level of retail adjusted operating profit in FY24. UK-based leading retailer Tesco has reported total group sales of £57,656 million in fiscal 2023 (FY23), 5.3 per cent up from FY22. The company’s like-for-like (LFL) retail sales growth was 5.1 per cent. Tesco's UK & Republic of Ireland (ROI) LFL sales rose by 4.7 per cent, including UK sales up 3.3 per cent and ROI sales up 3.3 per cent. Meanwhile, Central Europe LFL sales increased by 10.4 per cent.Tesco's statutory revenue for the year was £65,762 million, up 7.2 per cent. However, the company's total retail adjusted operating profit was down 6.3 per cent at constant rates, at £2,487 million. The UK and ROI adjusted operating profit was £2,307 million, down 7 per cent, driven by lower year-on-year (YoY) volumes and ongoing investment in customer offers. The Central Europe adjusted operating profit was £180 million, up 3.6 per cent, with volumes resilient in the face of significant market inflation, the company said in a press release.Tesco's total group sales for FY23 reached £57.7 billion, a 5.3 per cent rise from the previous year. Like-for-like retail sales growth was 5.1 per cent, with UK and ROI sales up 4.7 per cent. Total retail adjusted operating profit was down 6.3 per cent. Tesco expects to deliver a broadly flat level of retail adjusted operating profit in FY24.Tesco's statutory operating profit for the year was £1,525 million. The company's retail free cash flow was £2,133 million, including a working capital inflow of £468 million. Tesco's adjusted diluted earnings per share (EPS) were flat YoY at 21.85p, while the statutory diluted EPS was 10.08p, down YoY due to the impairment charge.Looking ahead, Tesco expects to deliver a broadly flat level of retail adjusted operating profit in FY24 and retail free cash flow within its target range of £1.4-1.8 billion.“It’s been an incredibly tough year for many of our customers, and we have been determined to do everything we can to help. Our results reflect our continued investment in delivering great value and quality for our customers, whilst at the same time looking after our colleagues. This is despite unprecedented levels of inflation in the prices we have paid our suppliers for their products, and the cost of running our own operations. I am very proud of the way the Tesco team has responded to these challenges and would like to thank every colleague for the contribution they have made,” said Ken Murphy, chief executive. Fibre2Fashion News Desk (DP) More Tesco PLC News... More Retail News - United Kingdom...

Retail 30% Australian retail executives say trading conditions 'good': KPMG 19 Feb '24 2 min read Pic: KPMG Insights Thirty per cent of the retail executives in the KPMG Australian Retail Outlook survey said trading conditions are 'good'. Only 19 per cent nominated artificial intelligence as a big growth driver in 2024. Sixty-seven per cent of Australians are now demanding brands go beyond being sustainable, taking responsibility for reversing the damage to the environment. A mere 30 per cent of the retail executives in the Australian Retail Outlook survey conducted by KPMG described trading conditions as ‘good’.Finances in the average household went backwards all year in 2023, to the point where savings are now at near 16-year lows of just 1.1 per cent.Thirty per cent of the retail executives in the KPMG Australian Retail Outlook survey said trading conditions are 'good'. Only 19 per cent nominated artificial intelligence as a big growth driver in 2024. Sixty-seven per cent of Australians are now demanding brands go beyond being sustainable, taking responsibility for reversing the damage to the environment.The changes in shopper spending appear to have had the most impact on small and medium enterprises (SMEs), with 41 per cent of SME retailers performing below or far below their fiscal 2022-23 (FY23) forecasts and two-thirds of SMBs lacking business confidence and concerned or uncertain about the year ahead, per the Australian Retailers Association (ARA).In its December 2023 Retail Health Index report, KPMG predicted that the retail sector would return to positive territory as early as Christmas 2024, driven by net population growth, slowing interest-rate hikes, and the wealth effect of higher property prices.The retail playing field also underwent major changes in 2023, with multiple acquisitions and mergers.The Australian Retail Outlook found that only 19 per cent of retailers nominated artificial intelligence (AI) as a big driver of growth this year. The opportunity for early movers to leverage AI and get ahead of their competitors is clear, KPMG said in a note.What has been a big advancement, however, is that 67 per cent of Australians are now demanding that brands go beyond being sustainable and take responsibility for reversing the damage to the environment.In practical terms, this translates into the three R’s: repair, reuse and repurpose—strategies that innovative fashion retailers have already adopted, KPMG added. Fibre2Fashion News Desk (DS) More Retail News - Australia...

Retail Indian retailer ABFRL's sales soar 254% in Q1 FY23 05 Aug '22 3 min read Pic: Shutterstock Aditya Birla Fashion and Retail Limited (ABFRL) posted its highest-ever quarterly sales in the first quarter (Q1) of fiscal 2023 (FY23) at ₹2,875 crore, up by 254 per cent year-over year. Robust performance across categories led to 51 per cent growth in EBITDA. A sharp recovery in demand across categories and preference for the company’s portfolio of brands led to a robust performance.Momentum from H2 last year continued in the first quarter as consumer confidence improved leading to traffic growth across businesses and channels. In the first quarter, the company’s e-commerce sales grew 56 per cent year-over-year. The omni-channel network has been expanded to more than 1,600 stores, and is one of the largest in the country. Small-town formats continued to show promising results with a network of more than 500 stores.In the Lifestyle brands segment, revenue grew 51 per cent over pre-COVID levels to ₹1,519 crore, while EBITDA grew 40 per cent to ₹266 crore, on the back of retail L2L growth of 29 per cent over FY20 and aggressive expansion of retail stores. E-commerce business grew more than 50 per cent year-over-year. Small town format and casual wear business continued to show strong growth.Aditya Birla Fashion and Retail Limited (ABFRL) posted its highest-ever quarterly sales in the first quarter at ₹2875 crore, up by 254 per cent year-over year. Robust performance across categories led to 51 per cent growth in EBITDA. A sharp recovery in demand across categories and preference for the company's portfolio of brands led to a robust performance.#In the Pantaloons segment, the business achieved highest-ever first quarter revenue of ₹1,027 crore, while EBITDA grew 33 per cent over pre-COVID levels. The e-commerce channel grew by 70 per cent year-over-year, with strong traction on its own channel due to enhanced customer experience and engagement.Inner wear and athleisure segment achieved highest-ever quarterly revenue driven by network expansion and strong e-commerce growth. Business continued to expand its trade network with addition of 2,000 new trade outlets to exit the quarter with close to 29,000 outlets.The Youth Fashion segment consisting of American Eagle and Forever 21, continued to show robust growth. American Eagle sales is now almost three times of pre-COVID levels and is swiftly establishing itself as a premium denim wear brand. Growth was also driven by distribution network expansion with 5 new stores being added during the quarter.Super premium brands, comprising The Collective and Mono brands is one of the fastest growing businesses with revenue more than 2 times of pre-COVID levels. Ethnic businesses also showed sharp growth as revenue is 2.7 times in the first quarter with scale coming from both network expansion and category extensions. Tasva added 6 new stores to the network to exit the quarter with 12 stores. For Sabyasachi, revenue grew by 160 per cent over pre-COVID levels.“Improved consumer confidence, value migration to the organised sector, and robust omni-channel presence led to strong growth and improved profitability. We expect this momentum to continue in upcoming quarters, with a further boost during the festive season. ABFRL will continue to invest in strengthening our brand propositions and drive sales via both physical and online stores. We are confident of the long-term prospects of the Indian apparel sector and remain focused on delivering strong, consistent, profitable growth,” the company said in a press release. Fibre2Fashion News Desk (RR) More Aditya Birla Group News... More Retail News - India...

Retail Great Britain's department store sales fall 2.9% in July 2023 21 Aug '23 2 min read Pic: Shutterstock/kasarp studio Insights Retail sales in Great Britain fell 1.2 per cent in July 2023 after rising 0.6 per cent in June. Department stores dropped 2.9 per cent, clothing 2.2 per cent. Online sales reached 27.4 per cent of total, the highest since February 2022. Compared to pre-COVID levels, sales were 16.4 per cent higher in value but 1.8 per cent lower in volume. Retail sales volumes in Great Britain are estimated to have fallen by 1.2 per cent in July 2023 following a rise of 0.6 per cent in June 2023—revised from an increase of 0.7 per cent. Department store sales volumes fell by 2.9 per cent over the month, while clothing stores fell by 2.2 per cent.Online retailers suggested that a range of promotions boosted sales. Shoppers switching to online shopping because of poor weather and increased promotions led to 27.4 per cent of retail sales taking place online in July 2023, up from 26.0 per cent in June 2023. This is the highest proportion of online retail sales since February 2022 at 28.0 per cent, the Office of National Statistics (ONS) said in a press release.Retail sales in Great Britain fell 1.2 per cent in July 2023 after rising 0.6 per cent in June. Department stores dropped 2.9 per cent, clothing 2.2 per cent. Online sales reached 27.4 per cent of total, the highest since February 2022. Compared to pre-COVID levels, sales were 16.4 per cent higher in value but 1.8 per cent lower in volume.Non-food stores sales volumes fell by 1.7 per cent in July 2023, following a rise of 0.6 per cent in June 2023. Automotive fuel stores sales volumes rose by 0.7 per cent in July 2023, following a fall of 0.6 per cent in June 2023. Non-store retailing sales volumes rose by 2.8 per cent in July 2023.When compared with their pre-coronavirus (COVID-19) level in February 2020, total retail sales were 16.4 per cent higher in value terms, but volumes were 1.8 per cent lower. Total non-food stores sales volumes (the total of department, clothing, household, and other non-food stores) fell by 1.7 per cent in July 2023, following a rise of 0.6 per cent in June 2023.Online spending values rose by 4.1 per cent in July 2023 because of strong growth in non-store retailing and other non-food stores. Fibre2Fashion News Desk (NB) More Retail News - United Kingdom...

Retail German retailers' supply problems ease in 2022 holiday season: ifo 23 Dec '22 1 min read Pic: Radu Bercan / Shutterstock.com The supply situation in German retail has slightly eased during the holiday season, as per a survey by ifo Institute for Economic Research. In December, 62.2 per cent German retailers were not happy about supply bottlenecks, down from 71.1 per cent in November. There was also a notable further decline in pessimism among retailers regarding the months ahead.The situation among clothing retailers has eased appreciably, where only 36 per cent of retailers complained about supply bottlenecks, according to the survey.“This easing has come at just the right time for many businesses in the trade sector,” said Klaus Wohlrabe, head of surveys at ifo. “However, there will still be gaps on shelves.”The supply situation in German retail has slightly eased during the holiday season, as per a survey by ifo Institute for Economic Research. In December, 62.2 per cent German retailers were not happy about supply bottlenecks, down from 71.1 per cent in November. There was also a notable further decline in pessimism among retailers regarding the months ahead.The business climate index in Germany rose to 88.6 points in December 2022, up from 86.4 points (seasonally adjusted) in November. This is one of the reasons why German businesses entered the holiday season with a sense of hope, as per a recent finding from ifo Institute. Fibre2Fashion News Desk (DP) More Retail News - Germany...

Retail Retail in Netherlands sees 5% YoY turnover growth in July 2023 03 Sep '23 1 min read Pic: Shutterstock/Sorbis Insights The Dutch retail sector saw a 5 per cent increase in YoY turnover for July 2023, according to data adjusted for shopping-day variations. While the non-food sector experienced a 3 per cent boost in turnover, it also reported a 3.2 per cent decline in volume of sales when adjusted for price changes. Online retail demonstrated a 2.5 per cent YoY growth. The Dutch retail sector recorded 5.0 per cent year-on-year (YoY) turnover growth in July 2023. The volume of sales decreased by 2.8 per cent and turnover was up by 3.0 per cent in the non-food sector. Furthermore, online retail turnover increased by 2.5 per cent YoY.Retail turnover data have been adjusted for the shopping-day pattern in July. Retail sales tend to vary from one day to the next. If the shopping-day pattern is not taken into account, retail turnover in July 2023 was 3.7 per cent higher than in the same month last year. Clothes shops, shops selling footwear and leather products, and those selling DIY products, recorded a decrease in July, Statistics Netherlands (CBS) said in a press release.The volume of sales (turnover adjusted for price changes) decreased by 3.2 per cent compared to the same month last year.The Dutch retail sector saw a 5 per cent increase in YoY turnover for July 2023, according to data adjusted for shopping-day variations. While the non-food sector experienced a 3 per cent boost in turnover, it also reported a 3.2 per cent decline in volume of sales when adjusted for price changes. Online retail demonstrated a 2.5 per cent YoY growth.Online stores recorded a turnover increase of 3.4 per cent. Multi-channel retailers (retailers selling goods and services over the internet as a side activity) achieved 1.4 per cent higher turnover in online sales.Online turnover of non-food products was higher in July 2023 than in July 2022. Online turnover of clothing and fashion items was lower. Fibre2Fashion News Desk (NB) More Retail News - Netherlands...

Retail Dutch retail sector records 5.3% YoY turnover growth in Sept 2022 04 Nov '22 2 min read Pic: Shutterstock The Dutch retail sector recorded 5.3 per cent year-on-year (YoY) turnover growth in September this year, according to Statistics Netherlands (CBS), which recently reported that the volume of sales went down by 3.5 per cent. Turnover in the non-food sector was up by 4.7 per cent YoY. Furthermore, online retail turnover increased by 5.7 per cent.Retail turnover data have been adjusted for the shopping-day pattern in September. Retail sales tend to vary from one day to the next. If the shopping-day pattern is not taken into account, retail turnover in September 2022 was 5.9 per cent higher than in the same month last year.The Dutch retail sector recorded 5.3 per cent year-on-year (YoY) turnover growth in September this year, according to Statistics Netherlands (CBS), which recently reported that the volume of sales went down by 3.5 per cent. Turnover in the non-food sector was up by 4.7 per cent YoY. Furthermore, online retail turnover increased by 5.7 per cent.In September, the volume of sales (adjusted for price changes) in the non-food sector fell by 2.9 per cent YoY.Shops selling footwear and leather products, clothes shops, shops selling personal care products, shops selling consumer electronics and white goods, shops selling DIY products, kitchens and flooring and those selling furniture and home furnishings saw turnover growth.Online turnover was up by 5.7 per cent YoY during the month. Web shops recorded a turnover increase of 0.7 per cent. Multi-channel retailers achieved 12.2 per cent higher turnover in online sales during the month. Online turnover in all sub-sectors was higher in September compared to the same month last year. Fibre2Fashion News Desk (DS) More Retail News - Netherlands...

Retail US' Macy's announces S.P.U.R Pathways multi-year funding programme 09 Nov '22 3 min read Pic: Macy US’ Macy’s has unveiled S.P.U.R. Pathways: Shared Purpose, Unlimited Reach, a multi-faceted funding programme to advance entrepreneurial growth, close wealth gaps, and shatter systemic barriers faced by diverse-owned and underrepresented businesses. Macy’s, through partnerships, provides access to up to $200 million in funding and a retail ecosystem.This innovative effort, created in partnership with Momentus Capital, advances a long-standing Macy’s commitment to underrepresented businesses and aims to galvanise the retail industry to invest in the next generation of entrepreneurs. Through Macy’s $30 million investment, S.P.U.R. Pathways will ultimately represent up to $200 million in access to critical funding for underrepresented businesses and will feature a comprehensive range of financing options from growth equity capital to loans for working capital and commercial real estate. Additionally, this effort will provide a full suite of educational resources, fuelling a holistic supplier ecosystem and acting as a catalyst for outsized growth, the company said in a press release.US' Macy's has unveiled S.P.U.R. Pathways: Shared Purpose, Unlimited Reach, a multi-faceted funding programme to advance entrepreneurial growth, close wealth gaps, and shatter systemic barriers faced by diverse-owned and underrepresented businesses. Macy's, through partnerships, provides access to up to $200 million in funding and a retail ecosystem.Over the next five years, Macy’s is investing a total of $30 million, consisting of a $20 million investment in its own supplier access fund, and an additional $10 million investment, projected to provide approximately $100 million in capital for diverse-owned and underrepresented growth-stage businesses. A third channel creates a pipeline to a Momentus Capital loan programme anticipated to provide up to $100 million in capital access to businesses at various stages of development.Earlier this year Macy’s introduced its social purpose platform, Mission Every One, developed to build on the company’s heritage of corporate citizenship and to achieve positive societal change.Through Mission Every One, Macy’s will direct $5 billion of the company’s spend, scaling through 2025, to the partners, products, people, and programs that help create a more equitable and sustainable future. A portion of this spend will support investments in business development programmes, including S.P.U.R. Pathways and The Workshop at Macy’s, the retail industry’s longest-running retail development program, which has empowered more than 200 diverse-owned brands. Across Macy’s, Bloomingdale’s, and Bluemercury, with a network of more than 700 stores, digital shopping through online and app experiences, and new smaller off-mall store formats, Macy’s fosters a comprehensive supplier ecosystem that advocates for businesses at all levels of growth and across a vast array of categories and size.“S.P.U.R. Pathways: Shared Purpose, Unlimited Reach is dedicated to shaping the future of US retail. Macy’s has promoted underrepresented businesses and entrepreneurs for more than a decade and furthers that commitment today, pushing the US retail industry to a new era. As part of our social purpose platform, Mission Every One, this investment will provide access to capital resources that will advance the next generation of brands and service providers. By investing in high-growth underrepresented businesses at all stages of growth, we intend to create meaningful economic impact within our communities, while serving our customers,” Jeff Gennette, chairman and chief executive officer of Macy’s, said.“With Macy’s, we have a unique opportunity to offer underrepresented businesses the resources to grow in a more equitable environment. The Macy’s supplier ecosystem provides access to comprehensive tools, industry experts, educational resources, and now with funding through our collaboration and the formation of S.P.U.R. Pathways: Shared Purpose, Unlimited Reach, creates an unparalleled opportunity within the retail industry. Access to capital and expertise fuels mutual growth and fosters wealth creation and entrepreneurship within historically underfunded communities,” Raymond Guthrie, chief investment officer and head of capital deployment for Momentus Capital, said. Fibre2Fashion News Desk (GK) More Macys.com, Inc., News... More Retail News - United States Of America...

The already stunning Aritzia Yorkdale flagship is getting a massive expansion and adding an A-OK Cafe. That's right..."

retail interiors surveys a host of branding and product display projects from around the globe completed with wide array of materials and finishes.

Oliver Harrison of RioCan discusses the massive project which has finished construction and is now seeing new retailers open.

It's all about influence.

Retail Reliance Retail partners with Gap to bring fashion brand to India 06 Jul '22 2 min read Pic: Reliance Retail Reliance Retail Limited has entered into a long-term partnership with Gap to bring the US fashion brand to India. Through the franchise agreement, Reliance Retail has become the official retailer for Gap across all channels in India. Reliance Retail will bring Gap’s shopping experience to customers in India, offering the brand’s fashion for men, women, and kids.Reliance Retail will introduce Gap’s latest fashion offerings to Indian consumers through a mix of exclusive brand stores, multi-brand store expressions and digital commerce platforms. The partnership is aimed at leveraging Gap’s position as a leading casual lifestyle brand, and Reliance Retail’s established competencies in operating robust omni-channel retail networks and scaling local manufacturing and driving sourcing efficiencies, the company said in a press release.Founded in San Francisco in 1969, Gap continues to build on its heritage grounded in denim and connect with customers online and in company-operated and franchise retail locations globally. With a strong vision of doing more than selling clothes, Gap shapes culture, championing a uniquely radical and optimistic sense of American style by bridging the gap between individuals, generations, and cultures.Reliance Retail Limited has entered into a long-term partnership with Gap to bring the US fashion brand to India. Through the franchise agreement, Reliance Retail has become the official retailer for Gap across all channels in India. It will bring Gap's shopping experience to customers in India, offering the brand's fashion for men, women & kids.#“At Reliance Retail, we pride ourselves in bringing the latest and best to our customers and we are happy to announce the addition of iconic American brand, Gap to our fashion and lifestyle portfolio. We believe that Reliance and Gap complement each other in their vision to bring industry leading fashion products and retail experiences to their consumers,” said Akhilesh Prasad, CEO, Fashion & Lifestyle, Reliance Retail Ltd.“We look forward to growing the Gap business across key international markets,” said Adrienne Gernand, managing director of international, global licensing and wholesale at Gap Inc. “Partnering with regional experts, like Reliance Retail in India, allows us to deliver our relevant, purpose-driven brand to customers around the globe, while continuing to diversify our business portfolio through our partner-based model.” Fibre2Fashion News Desk (RR) More Reliance Industries Limited News... More Retail News - India...

Retail Japan's Fast Retailing to raise employee pay up to 40% from March 2023 12 Jan '23 3 min read Pic: JHVEPhoto / Shutterstock.com Japanese multinational retail holding company Fast Retailing has announced the increase in the remuneration level of grades assigned to each employee by up to 40 per cent from March 2023. With the strengthening of investment in personnel, Fast Retailing aims to increase its growth potential and competitiveness in line with global standards.The company has already been advancing this revision in a number of markets where it operates around the world. In Japan especially, where remuneration levels have remained low, the company is significantly increasing the remuneration table, as well as re-examining its HR system, to better enable it to compensate individual employees based on their growth, ambition, and ability to contribute to the business. This will include employees from headquarters and corporate departments responsible for the functions of the company's global headquarters, as well as employees working in stores, the company said in a press release.Fast Retailing also aims to establish a management that can better remunerate employees so that the resulting growth of individuals and the company will lead to even greater global competitiveness.Japanese multinational retail holding company Fast Retailing has announced the increase in the remuneration level of grades assigned to each employee by up to 40 per cent from March 2023. With the strengthening of investment in personnel, Fast Retailing aims to increase its growth potential and competitiveness in line with global standards.The company plans to take this opportunity to match the reality of its flat, highly manoeuvrable management structure. With this in mind, remuneration will comprise such elements as base pay and a bonus determined by performance results for each period, while position-based allowances currently existing in Japan will be eliminated.As an example of increased remuneration in Japan, the monthly salary of a newly joining university graduate employee will increase from the current 255,000 yen ($1,945.85) to 300,000 yen ($2,290.85), an annual salary increase of approximately 18 per cent. The salary of someone taking on a new role as store manager in their first or second year will increase from 290,000 yen to 390,000 yen (an annual salary increase of approximately 36 per cent). For other employees, the company plans to increase annual salaries by as much as 40 per cent.Going forward, the new remuneration of each employee will be decided by globally aligned grade criteria. Factors such as work performance and results, ability to contribute to the business, ambition and growth will be defined once again, and a fair grade evaluation will be realised through meticulous performance evaluation from one's supervisor, and a thorough evaluation from upper management and the HR Department.Prior to this forthcoming revision, the hourly wages of store staff in Japan were already amended in September last year, with the objective of paying appropriate compensation in line with the expectations, responsibilities, and abilities of staff who provide the utmost service to customers.Additionally, Fast Retailing will reform the way its organisation works, so that the headquarters of each market can cooperate on both a global and local level to develop an organisational structure and workstyle that promotes problem solving. Fibre2Fashion News Desk (DP) More FAST RETAILING CO LTD News... More Retail News - Japan...

Retail Uniqlo showcases LifeWear line at international expo in Shanghai 08 Nov '23 2 min read Pic: Uniqlo/Fast Retailing Co Insights Uniqlo unveiled its LifeScape booth at CIIE Shanghai, showcasing LifeWear fashion and new vision for lifestyle retail. The exhibit features innovative clothing and a live shopping programme. Highlights include Ultra Light Down, Heattech, and the new Powder Soft Down. It also spotlights lighter Heattech fabrics and the Re.Uniqlo Studio for sustainability. Uniqlo has introduced its LifeScape booth at the ongoing 2023 China International Import Expo (CIIE) in Shanghai. The 1,000-square-metre exhibit offers a new lifestyle vision, highlighting the brand’s LifeWear clothing line. Open to the public post a media preview, the exhibit aligns with the CIIE theme ‘New Era Shared Future’.LifeScape marks Uniqlo’s fourth CIIE presence, with interactive zones demonstrating LifeWear’s integration into everyday life. Visitors experience the clothing through immersive displays, covering various seasons and environments. The booth also features LiveStation, a livestreaming programme for remote customers, according to retail company and Uniqlo owner Fast Retailing Co.Uniqlo unveiled its LifeScape booth at CIIE Shanghai, showcasing LifeWear fashion and new vision for lifestyle retail. The exhibit features innovative clothing and a live shopping programme. Highlights include Ultra Light Down, Heattech, and the new Powder Soft Down. It also spotlights lighter Heattech fabrics and the Re.Uniqlo Studio for sustainability.The exhibit displays Ultra Light Down, Heattech, Fleece, and the new Pufftech garments, alongside the China debut of Powder Soft Down, known for its softness and warmth, created with Nanodesign by Toray Industries. These innovations embody fashion, technology, and sustainability, with features like water resistance and anti-static.LifeScape presented the Ultra Light Turtleneck Long-Sleeve T-Shirt, 20 per cent lighter than standard Heattech fabrics, reflecting 20 years of brand innovation.Additionally, Uniqlo’s Re.Uniqlo Studio, offering repair, remake, and reuse services, is highlighted, indicating plans for international expansion due to growing sustainability interest in China.Finally, LifeScape integrates technology for an enhanced customer experience, allowing visitors to learn more about products and shop on-site, coinciding with Uniqlo’s Double 11 sales event. Fibre2Fashion News Desk (NB) More Uniqlo News... More Retail News - China...

Retail UK retailer Tesco posts sales growth of 8.9% in H1 FY24 05 Oct '23 2 min read Pic: inimma / Shutterstock.com Insights British retailer Tesco reported an 8.9 per cent increase in H1 FY24 group sales to £30,749 million. Adjusted operating profit increased by 14 per cent to £1,482 million, and diluted EPS soared by 292.4 per cent. Retail LFL sales in H1 FY24 grew by 7.8 per cent, with the UK's sales rising by 8.7 per cent. Retail adjusted operating profit was £1,417 million. UK-based retailer Tesco has reported group sales of £30,749 million for the first half of fiscal 2024 (H1 FY24), marking an 8.9 per cent growth at actual rates and an 8.4 per cent uptick at constant rates compared to the previous year's £28,241 million. The adjusted operating profit saw a healthy rise of 14 per cent to £1,482 million from £1,300 million.Delving deeper into these figures, the retail sector contributed significantly with £1,417 million, up 13.5 per cent from the previous year's £1,248 million.British retailer Tesco reported an 8.9 per cent increase in H1 FY24 group sales to £30,749 million. Adjusted operating profit increased by 14 per cent to £1,482 million, and diluted EPS soared by 292.4 per cent. Retail LFL sales in H1 FY24 grew by 7.8 per cent, with the UK's sales rising by 8.7 per cent. Retail adjusted operating profit was £1,417 million.On the earnings front, the adjusted diluted EPS experienced a substantial surge of 16.8 per cent year-on-year (YoY) to 12.26p in H1 FY24. The operating profit skyrocketed by 105.5 per cent to £1,482 million and the profit before tax soared by a staggering 207.3 per cent to £1,217 million. The diluted EPS grew by 292.4 per cent, hitting 12.83p, the company said in a press release.Tesco reported strong sales performances throughout the group. The retail like-for-like (LFL) sales rose by 7.8 per cent, with the impact of inflation reducing throughout the half-year. Specifically, the UK and Republic of Ireland (ROI) LFL sales grew by 8.4 per cent, broken down as the UK up by 8.7 per cent, ROI by 6.9 per cent, and Booker by 7.5 per cent. Central Europe's LFL sales witnessed a modest rise of 0.9 per cent, reflecting last year's strong base coupled with market volume contraction due to sustained high inflation.The company’s retail adjusted operating profit settled at £1,417 million, up 13.5 per cent at constant rates.“This relentless focus on customers, combined with significant cost reductions from our Save to Invest programme, has driven our strong performance in the first half of the year. We are in a strong position to keep investing for customers, and will continue to lower prices wherever we can, doing everything in our power to make sure customers can have a fantastic, affordable Christmas by shopping at Tesco,” said Ken Murphy, chief executive. Fibre2Fashion News Desk (DP) More Tesco PLC News... More Retail News - United Kingdom...

Retail Turkiye's retail trade confidence decreases slightly in March 2024 25 Mar '24 1 min read Pic: Adobe Stock Insights In March 2024, Turkiye's retail trade confidence index fell to 113.3, marking a 1 per cent decline for the second month, as per Turkstat. Business activity in retail decreased slightly by 0.8 per cent, while stock volumes increased by 1.1 per cent, reversing a previous decline. The country's future sales expectations dipped by 2.8 per cent. Turkiye's retail trade confidence index experienced a slight decrease in March 2024, dropping to 113.3 from February's 114.5, marking a consistent 1 per cent decline for two consecutive months, according to Turkish Statistical Institute (Turkstat).Business activity and sales over the past three months witnessed a modest decrease, sliding from 132.7 to 131.6. This movement indicates a 0.8 per cent decline in March, slightly less than February's 1.1 per cent drop.Conversely, the current volume of stock showed an unexpected turn, with an increase from 89.9 to 90.9. This change represents a 1.1 per cent rise in March, contrasting with the 2.3 per cent decline observed in February. The adjustment, as per Turkstat.In March 2024, Turkiye's retail trade confidence index fell to 113.3, marking a 1 per cent decline for the second month, as per Turkstat. Business activity in retail decreased slightly by 0.8 per cent, while stock volumes increased by 1.1 per cent, reversing a previous decline. The country's future sales expectations dipped by 2.8 per cent.However, the outlook for business activity and sales over the next three months appears to be dampening, as evidenced by a decrease from 120.8 to 117.4. This significant 2.8 per cent reduction in expectations contrasts with the slight optimism (0.1 per cent increase) noted in February. Fibre2Fashion News Desk (DP) More Retail News - Turkey...

Retail 91% of UK retailers now have a coordinated D&I strategy: Report 21 Jul '22 2 min read Pic: Shutterstock More retailers in the UK are now focusing on making their businesses more inclusive. While 91 per cent of retailers have a coordinated D&I (diversity and inclusion) strategy in place as compared to 76 per cent last year, 74 per cent of these are now headed by CEOs when compared to only 50 per cent in 2021, according to a recent study by the British Retail Consortium (BRC) and The MBS Group.The survey titled ‘Tracking progress on diversity and inclusion in UK Retail’ aims to shed light on D&I in the retail industry in 2022 through the lens of gender, race and ethnicity, LGBTQ+, disability, social mobility, and age. This comes after last year’s release of the BRC’s D&I Charter, which has over 75 retailers as signatories, committing to improve D&I in the retail industry, and the first D&I report evaluating the 2021 retail landscape in terms of diversity.An important finding of the report was that women’s presence on retail boards increased from 32.6 per cent in 2021 to 37.5 per cent in 2022. Moreover, 59 per cent of D&I strategies concentrated on social mobility, 29 per cent on age, and 76 per cent on disability.More retailers in the UK are focusing on making their businesses more inclusive. While 91 per cent of retailers have a coordinated D&I (diversity and inclusion) strategy in place as compared to 76 per cent last year, 74 per cent of these are now headed by CEOs when compared to only 50 per cent in 2021, according to a study by the BRC and The MBS Group.#The data for the report was collected directly from a broad range of retail companies. Among the 50 member signatory companies, 32 members participated in the research. These responding companies employ nearly 860,000 people, which is around 28 per cent of the retail workforce in the UK.BRC and The MBS Group said that the report will be released on an annual basis to reflect great practices, show any achievements, and emphasise what more needs to be done in the future to make sure every single individual has equal opportunity to flourish in a business. It intends to play an important role in bringing about positive change in the industry. Fibre2Fashion News Desk (NB) More Retail News - United Kingdom...

Retail American retailer Walmart lowers profit outlook for Q2 & FY23 26 Jul '22 2 min read Pic: Sergei Elagin / Shutterstock.com American retailer Walmart has lowered its profit outlook for the second quarter (Q2) of fiscal 2022-23 (FY23) as well as the entire FY23. Consolidated net sales growth for Q2 and full year is expected to be about 7.5 per cent and 4.5 per cent, respectively. Excluding divestitures, consolidated net sales growth for the full year is expected to be about 5.5 per cent.Net sales include a headwind from currency of about $1 billion in the second quarter. Based on current exchange rates, the company expects a $1.8 billion headwind in the second half of the year. The company maintains its expectations for Walmart US comp sales growth, excluding fuel, of about 3 per cent in the back half of the year. Comp sales for Walmart US, excluding fuel, are expected to be about 6 per cent for the second quarter, Walmart said in a media release.The operating margin for Q2 is expected to be about 4.2 per cent, while that for the whole fiscal will be in the range of 3.8-3.9 per cent. Operating income for the second-quarter and full-year is expected to decline 13 to 14 per cent and 11 to 13 per cent, respectively. Excluding divestitures, operating income for the full year is expected to decline 10 to 12 per cent.American retailer Walmart has lowered its profit outlook for Q2 of fiscal 2022-23 (FY23) as well as the entire FY23. Consolidated net sales growth for Q2 and full year is expected to be about 7.5 per cent and 4.5 per cent, respectively. Excluding divestitures, consolidated net sales growth for the full year is expected to be about 5.5 per cent.#Adjusted earnings per share for Q2 and full year is expected to decline around 8 to 9 per cent and 11 to 13 per cent, respectively. Excluding divestitures, adjusted earnings per share for the full year is expected to decline 10 to 12 per cent.“The increasing levels of food and fuel inflation are affecting how customers spend, and while we’ve made good progress clearing hardline categories, apparel in Walmart US is requiring more markdown dollars. We’re now anticipating more pressure on general merchandise in the back half; however, we’re encouraged by the start we’re seeing on school supplies in Walmart US,” said Doug McMillon, Walmart Inc. president and chief executive officer. Fibre2Fashion News Desk (KD) More Wal-Mart News... More Retail News - United States Of America...

Retail Japan's Fast Retailing reports 14.2% growth in revenue of Q1 FY23 13 Jan '23 2 min read Pic: Tree Vongvitavat / Shutterstock.com Fast Retailing, Japan’s multinational retail holding company, has reported a consolidated revenue of 716.3 billion yen ($5.49 billion), up 14.2 per cent year-on-year (YoY), in the first quarter of financial year 2023. The company’s operating profit in Q1 FY23 declined by 2 per cent to 117 billion yen, compared to the same period of the previous fiscal.In Q1 FY23, Uniqlo’s revenue increased, while profit declined. Revenue was 240.9 billion yen (up 6.4 per cent YoY), while operating profit was 39.4 billion yen (down 5.6 per cent YoY). Uniqlo’s gross profit margin declined by 1.1 points YoY after warm temperatures stifled sales in November and the rapid depreciation in the yen boosted cost of sales. Profit also declined as a result, Fast Retailing said in a press release.Uniqlo International’s revenue was 357.8 billion yen, up 19.4 per cent YoY, in Q1 FY23. Operating profit was 57.2 billion yen, down 4.4 per cent. Segment profit declined after the Mainland China market reported a large decline in profits due to COVID-19 restrictions on movement and Russia reported a loss due to the suspension of operations in that market. South Asia, Southeast Asia, and Oceania, North America, and Europe (excluding Russia) achieved record high performances, reporting large increases in both revenue and profit that outstripped initial plan.Fast Retailing, Japan's multinational retail holding company, has reported a consolidated revenue of 716.3 billion yen ($5.49 billion), up 14.2 per cent year-on-year (YoY), in the first quarter of financial year 2023. The company's operating profit in Q1 FY23 declined by 2 per cent to 117 billion yen, compared to the same period of the previous fiscal.The GU business segment reported large increases in both revenue and profit in the first quarter of fiscal 2023, with revenue rising to 79.3 billion yen (up 13.6 per cent YoY) and operating profit totalling 10.6 billion yen (up 19.3 per cent YoY). The return of more normal distribution operations, an increased ability to respond flexibly to requirements for additional production of strong-selling items, and falling temperatures in October all helped boost GU performance. Sales of heavyweight sweatshirts, wide pants, and heat padded outerwear proved especially strong.The Global Brands segment reported a large rise in revenue but a decline in profit in the first quarter of fiscal 2023, with revenue rising to 37.6 billion (up 22.4 per cent YoY) and an operating profit contracting to 0.7 billion yen (down 72.1 per cent YoY).For FY23, the Fast Retailing expects to achieve consolidated revenue of 2.65 trillion yen (up 15.2 per cent YoY) and operating profit of 350 billion yen (up 17.7 per cent YoY). The company expects Uniqlo International to achieve higher revenue and profit in the first half of fiscal 2023. Fibre2Fashion News Desk (DP) More FAST RETAILING CO LTD News... More Retail News - Japan...

Retail UK's online retail sales fell 12% YoY, lowest since March: IMRG 13 Jan '23 3 min read Pic: Shutterstock/ VAKS-Stock Agency UK’s online sales fell by 12 per cent year-on-year (YoY) in December, its lowest since March when the rate was still affected by lockdown comparisons, as per the Interactive Media in Retail Group (IMRG). This caps what has proven to be arguably the toughest year ever for online retail, which declined by 10.5 per cent YoY in 2022, by far the lowest growth ever recorded for a year and the first time it has been negative (the previous low was +2.7 per cent YoY in 2021).Growth online for the Black Friday week turned out to be flat, which was a bit better than expected and was out of sync with the low demand of the previous 10 months. However, this turned out to be due to volume being pulled forward, as was evident from the week following it, according to the IMRG Online Retail Index, which tracks online sales for 200 retailers.Sales for week commencing on November 27 fell -7.3 per cent, against a huge decline of -34 per cent for the same week in 2021. The delivery disruption also saw a weak performance for the week starting on December 18, as final delivery dates shifted earlier, with sales down -4.7 per cent, and unable to build on the -22.4 per cent decline for the same period last year.UK's online sales fell by 12 per cent year over year (YoY) in December, its lowest since March when the rate was still affected by lockdown comparisons, as per the IMRG. This caps what has proven to be arguably the toughest year ever for online retail, which fell by 10.5 per cent YoY in 2022, by far the lowest growth ever recorded for a year.Clothing was the single main category to achieve positive growth for 2022 as a whole, at +2.5 per cent YoY. The problem for online retail is clear to see—the average basket value increased from £121 in 2021 to £134 in 2022, driven up by inflation and other factors as products become more expensive for people to buy. The logical consequence being that the conversion rate (percentage of site visitors who complete a purchase) was at times in 2022 20 per cent lower than at the same times in 2021, added the IMRG.Andy Mulcahy, strategy and insight director at IMRG, said: “Retail is a confidence game; if people feel they are comfortable with their finances and have some disposable income to play with every month, then retailers tend to see that reflected in general patterns of demand. Mid-2022, we revised our forecast range, making a decline of -10 per cent the lowest estimate in our modelling, which is where 2023 came in.“So, it really has been a poor year. The bright spot, however, is that traffic to retail sites has continued to grow even after the huge surges from the pandemic, so once the general economic malaise eases, retailers should be in a good place to benefit from the fact that people still like browsing and shopping for products. The issue is that many are expecting another tough year in 2023, with the first half, in particular, unlikely to provide much respite.” Fibre2Fashion News Desk (NB) More Interactive Media in Retail Group (IMRG) News... More Retail News - United Kingdom...

Retail Over 6.2K brands to gather at NRF 2024: Retail's Big Show in NYC 25 Oct '23 2 min read Pic: NRF Insights The NRF 2024: Retail's Big Show is scheduled for January 14–16, 2023, in New York City. The event will host more than 6,200 global brands for discussions on industry innovation and collaboration. Over a dozen retail CEOs from leading brands will share insights on various subjects such as consumer expectations, sustainability, and supply chain improvements. The National Retail Federation (NRF) 2024: Retail’s Big Show will return to New York City from January 14–16, 2023, bringing together more than 6,200 brands from around the globe for learning, collaboration, and discovery.More than a dozen retail CEOs will share their perspectives on the health of the industry, including how retailers are innovating to meet new consumer expectations, fostering high lifetime value (LTV) customers, pursuing sustainability and principled retailing, transforming to smarter supply chains, and harnessing the power of omnichannel retail, NRF said in a press release.The NRF 2024: Retail's Big Show is scheduled for January 14–16, 2023, in New York City. The event will host more than 6,200 global brands for discussions on industry innovation and collaboration. Over a dozen retail CEOs from leading brands will share insights on various subjects such as consumer expectations, sustainability, and supply chain improvements.The NRF 2024: Retail’s Big Show is set to feature an extensive line-up of industry leaders. The speakers include Bob Eddy, chairman and CEO of BJ’s Wholesale Club; Harley Finkelstein, president of Shopify; John Furner, president and CEO of Walmart US; Michelle Gass, president of Levi Strauss & Co.; David Kimbell, CEO of Ulta Beauty; Suresh Krishna, CEO and president of Northern Tool + Equipment; Hal Lawton, president and CEO of Tractor Supply Company; Kyle Leahy, CEO of Glossier; Stephanie Linnartz, president and CEO of Under Armour; Marc Metrick, CEO of Saks; Shay Mitchell, founder and CEO of BEIS Travel; Philippe Schaus, CEO of Moët Hennessy; Edward W Stack, executive chairman of Dick’s Sporting Goods; Raj Subramaniam, president and CEO of FedEx; and Steven Williams, CEO of PepsiCo Foods North America at PepsiCo.The retail gathering will take place at the Jacob K. Javits Convention Center in New York. Fibre2Fashion News Desk (NB) More National Retail Federation News... More Retail News - United States Of America...

Retail US retailer Dillard's net sales reach $6.493 bn in FY22 22 Feb '23 2 min read Pic: JHVEPhoto / Shutterstock.com Dillard's, Inc, an upscale American department store chain, has reported net sales of $6.493 billion in fiscal 2022 (FY22), a considerable jump from $4.301 billion reported for the previous year. Total retail sales for the same period increased by 53 per cent year-on-year (YoY), reaching $6.375 billion. The company’s consolidated gross margin for FY22 was 42.3 per cent of sales, up significantly from the 28.6 per cent reported for the previous year.Retail gross margin also showed an improvement, reaching 42.9 per cent of sales, up from 29.4 per cent the year before. Comparing it to FY19, retail gross margin improved 1,033 basis points of sales to 42.9 per cent of sales from 32.6 per cent of sales.Dillard's reported a net income of $862.5 million, or $41.88 per share, for FY22, a vast improvement from the net loss of $71.7 million, or $3.16 per share, reported for the previous year.Dillard's, Inc has reported net sales of $6.493 billion in FY22, a considerable jump from $4.301 billion reported for the previous year. Total retail sales for the same period increased by 53 per cent, reaching $6.375 billion. The company's consolidated gross margin for FY22 was 42.3 per cent of sales, up significantly from the 28.6 per cent in FY21.In the fourth quarter (Q4) of FY22, Dillard's reported net sales of $2.113 billion, compared to $1.570 billion in Q4 FY21. Net income Q4 FY22 was $321.2 million, or $16.61 per share, compared to net income of $67.0 million, or $3.05 per share, for the prior year fourth quarter.In Q4 FY22, the company reported a 37 per cent increase in total retail sales and a 37 per cent increase in comparable store sales compared to the same period in the previous year. Sales in juniors' and children's apparel also outperformed other categories, showing an increase of 12 per cent in comparable retail sales compared to the fourth quarter of FY19. Fibre2Fashion News Desk (DP) More Dillard's Inc News... More Retail News - United States Of America...

Retail 65% global retailers optimistic about economic growth in 2023: Report 26 Apr '23 3 min read Pic: Shutterstock/Praveen yo Insights Around 65 per cent retailers across the globe are expecting that the economy will grow this year.Less than 13 per cent of retail leaders said that their organisations are investing in longer-term strategies such as AI-powered solutions.Almost half of retailers who cited their supply chains as a top concern are trying to improve inventory management tools. Global retailers largely agree that economic and operational uncertainty will continue in 2023, but that there are signs of optimism, with 65 per cent of respondents expecting that the economy will grow this year, either slowly or rapidly compared with 11 per cent who believe the economy will decline, as per a recent survey.Less than 13 per cent of retail leaders surveyed state that their organisations are investing in longer-term strategies such as AI-powered solutions to tackle these challenges, with most focused on short-term fixes like increasing prices and running marketing campaigns, according to a report titled ‘Amid Uncertainty, AI Gives Retailers a Path to Resilience’ by Boston Consulting Group (BCG) and the World Retail Congress (WRC).Around 65 per cent retailers across the globe are expecting that the economy will grow this year. Less than 13 per cent of retail leaders said that their organisations are investing in longer-term strategies such as AI-powered solutions. Almost half of retailers who cited their supply chains as a top concern are trying to improve inventory management tools.In response to the rising costs of goods, 55 per cent of respondents said their organisations are raising consumer prices, and 52 per cent are renegotiating with suppliers, except in Asia where the leading solution is cost-tracking and management processes.Almost half of retailers who cited their supply chains as a top concern are trying to improve inventory management tools. Other retailers are focused on bettering vendor management, improving transportation, and diversifying their supplier base as solutions to supply chain complexity and ongoing volatility.The study revealed that outside of Asia, most retailers were neglecting AI as a tool to provide a more personalised shopping experience to help overcome declining consumer spending. Instead, the most common approaches were investments in loyalty programmes at 45 per cent, product offering optimisation at 44 per cent, price promotions at 40 per cent, and digital customer experience investments at 40 per cent.The report outlines the ways retailers starting their AI journeys can address their top concerns and deliver quick wins along the way. They can identify challenges the organisation faces and how AI can help solve them while creating sustainable advantages. Retailers can determine the use cases that can unlock the most business value. This focus on business value helps ensure the entire organisation is engaged in the AI project—not just the data scientists. These high-value use cases can then be prioritised based on business opportunity, feasibility, and ambition. Retailers can build, test, and iterate the technology and then scale quickly to deliver fast impact, build capability, and transform the organisation throughout the journey.“It is clear from this research that many retailers are missing out on the potential of AI-powered solutions to address the challenges facing retailers today and create long-term resilience for their businesses,” said Ian McGarrigle, chair of World Retail Congress.“The new, post-pandemic retail environment is more challenging, complex, and competitive than before. The vast majority of retailers are overlooking an opportunity to embrace AI-powered solutions. It is now a matter of acting today to harness this advantage to drive the business into the future,” said Tiffany Yeh, BCG managing director and partner and co-author of the report. Fibre2Fashion News Desk (NB)

Retail German retailers face business downturn in Sept 2023: ifo Institute 09 Oct '23 1 min read Pic: Shutterstock Insights German retailers experienced a business slump in September 2023, with indicators dropping to minus 9.8 points compared to minus 7.2 points in August, according to ifo institute. Despite future expectations slightly improving, many retailers note cautious consumers and unsatisfactory sales. A significant 37.8 per cent reported emptier stores. The business climate for German retailers has seen a decline, with the indicator dropping from minus 7.2 points in August to minus 9.8 points in September, according to the ifo Business Survey. Despite this, there's a silver lining as expectations for the upcoming months show slight improvement.However, a significant number of retailers dealing in personal and household goods have voiced concerns over cautious consumers. As a result, they rate their current business situation as unsatisfactory. This sentiment is echoed by the larger retail community, with 37.8 per cent remarking on noticeably emptier stores.“The recent noticeable increases in incomes among many consumers should further strengthen purchasing power, and retailers stand to benefit from this, too,” said ifo expert Patrick Hoppner.German retailers experienced a business slump in September 2023, with indicators dropping to minus 9.8 points compared to minus 7.2 points in August, according to ifo institute. Despite future expectations slightly improving, many retailers note cautious consumers and unsatisfactory sales. A significant 37.8 per cent reported emptier stores. Fibre2Fashion News Desk (DP) More Retail News - Germany...

The world's first concept store by Jordan Brand debuts in Italy, aiming to represent an urban community united around the culture of basketball and streetwear. We talked about it with the brand's vice president Sandra Idehen.

Retail Spain's retail trade index up by 0.2% MoM, 6.5% YoY in Sept 29 Oct '23 1 min read Pic: Adobe Stock Insights The monthly variation of the seasonally -and calendar-adjusted general retail trade index at constant prices in Spain between August and September stood at 0.2 per cent—a tenth lower than the previous month's figure. It registered a variation of 6.5 per cent year on year during the month—six-tenths lower than the one registered in August. The monthly variation of the seasonally -and calendar-adjusted general retail trade index (RTI) at constant prices in Spain between August and September stood at 0.2 per cent—a tenth lower than the previous month’s figure.All distribution classes showed positive monthly rates, except for single retail stores, which decreased by 0.8 per cent. Large chain stores registered the greatest increase of 1 per cent.The monthly variation of the seasonally -and calendar-adjusted general retail trade index at constant prices in Spain between August and September stood at 0.2 per cent—a tenth lower than the previous month's figure. It registered a variation of 6.5 per cent year on year during the month—six-tenths lower than the one registered in August.In September, the general RTI at constant prices, adjusted for seasonal and calendar effects, registered a variation of 6.5 per cent year on year (YoY)—six-tenths lower than the one registered in August.The original RTI series at constant prices registered an annual variation of 6 per cent—nine tenths below the rate of the previous month, an official release said.The seasonally and calendar adjusted index excluding service stations registered an annual variation of 8.6 per cent in September.The employment index in the retail trade sector registered a variation of 1.8 per cent YoY in September—equal to that recorded in August. Fibre2Fashion News Desk (DS) More Retail News - Spain...

Retail UK retailer Matalan's revenue at £263.6 mn in Q1 FY24 26 Jul '23 1 min read Pic: cktravels.com / Shutterstock.com Insights UK-based omni-channel fashion and homeware retailer Matalan's revenue was £263.6 million in the first quarter of fiscal 2024, down 8 per cent compared to £286.5 million in Q1 FY23. The company's EBITDA in Q1 FY24 was £26.1 million, while the EBITDA margin was 9.9 per cent. In FY24, Matalan expects EBITDA range under IAS17 of £60-£65 million. Matalan, a UK-based leading omni-channel fashion and homeware retailer, has reported a total revenue of £263.6 million in the first quarter (Q1) of fiscal 2024 (FY24), a decline of 8 per cent compared to £286.5 million in Q1 FY23. The company’s EBITDA post adoption of IFRS 16 was £26.1 million, with the EBITDA margin of 9.9 per cent.For fiscal 2024, the company expects EBITDA range under IAS17 of £60-£65 million, Matalan said in a press release.Jo Whitfield, chief executive of Matalan, said: “I am really excited that the team are now in place and are bringing the strength of their impressive retail experience into play as we get moving on the opportunities to underpin profitable growth. They have landed with immediate positive impact and are upweighting our activities and focus across the business in areas such as design, ranging, sourcing, supply chain, people and omni channel operations.UK-based omni-channel fashion and homeware retailer Matalan's revenue was £263.6 million in the first quarter of fiscal 2024, down 8 per cent compared to £286.5 million in Q1 FY23. The company's EBITDA in Q1 FY24 was £26.1 million, while the EBITDA margin was 9.9 per cent. In FY24, Matalan expects EBITDA range under IAS17 of £60-£65 million.“The business had a challenging first quarter with cost of living pressure resulting in depressed consumer spending in discretionary categories. Unseasonal weather delayed a refresh of wardrobes for early spring creating a tough start to the season.” Fibre2Fashion News Desk (DP) More Matalan PLC News... More Retail News - United Kingdom...

Retail 80% consumers in UK, France, Germany see downturn lasting over a year 19 Aug '23 2 min read Pic: Shutterstock/Standret Insights Over 80 per cent of consumers in the UK, France, and Germany expect a prolonged economic downturn, according to a survey. More than 90 per cent are altering spending due to higher prices and interest rates. Discounts and emotional connections with retailers are influencing spending patterns, with 63 per cent preferring exclusive community discounts. More than 80 per cent of consumers in the UK, France, and Germany expect the current economic downturn to last more than 12 months, and more than 90 per cent of shoppers are changing their spending habits in response to higher prices and interest rates, as per a recent survey.Fifty-four per cent of consumers are spending less, 49 per cent are eating out less, and 51 per cent are purchasing fewer non-essentials, while 44 per cent are shopping with less expensive brands, according to a survey conducted in May 2023 by Centiment.Moreover, 54 per cent are spending less on apparel, footwear, and accessories, and they are inspired to purchase from retailers who create an emotional connection while providing price relief. When asked about motivation to try a new brand, 63 per cent indicated ‘an exclusive discount for my community’ as the preferred option, beating general discounts and other incentives.Over 80 per cent of consumers in the UK, France, and Germany expect a prolonged economic downturn, according to a survey. More than 90 per cent are altering spending due to higher prices and interest rates. Discounts and emotional connections with retailers are influencing spending patterns, with 63 per cent preferring exclusive community discounts.The survey revealed that 89 per cent of students, 81 per cent of healthcare workers, and 73 per cent of teachers would be motivated by special discounts for their communities. Over 60 per cent of all surveyed feel more connected to brands that provide exclusive offers, leading to tremendous brand loyalty.More than 70 per cent, including 79 per cent of teachers, 76 per cent of healthcare workers, and 75 per cent of students, would likely join a loyalty programme for an exclusive offer. Seven in 10 consumers in identity-based communities are more loyal to brands providing exclusive offers, and more than nine in 10 would share such an offer with others eligible for it. Fibre2Fashion News Desk (NB) More Retail News - United Kingdom...

Retail Spanish firm Inditex's sales surge 10.4% in FY23 13 Mar '24 2 min read Pic: Kevin Hellon - stock.adobe.com Insights Inditex reported a 10.4 per cent sales rise in FY23, reaching €35.9 billion ($39.27 billion). Store sales rose 7.9 per cent, with expansion in 41 markets and 5,692 stores. Online sales grew 16 per cent, totalling €9.1 billion. Gross profit climbed 11.9 per cent to €20.8 billion, EBITDA was up 13.9 per cent to €9.9 billion, and net income surged 30.3 per cent. Inditex, the Spanish multinational clothing company known for its popular brand Zara, has experienced significant growth in fiscal 2023 (FY23), reporting a 10.4 per cent increase in sales to reach €35.9 billion (approximately $39.27 billion). The growth was partly fuelled by a 7.9 per cent increase in store sales, reflecting higher footfall and improved store productivity.Over the year, Inditex expanded its physical presence by opening stores in 41 markets, including Zara's first store in Cambodia. The company engaged in extensive store optimisation, with 192 openings, 231 refurbishments, 84 enlargements, and 315 absorptions, concluding FY23 with 5,692 stores globally, Inditex said in a press release.Inditex reported a 10.4 per cent sales rise in FY23, reaching €35.9 billion ($39.27 billion). Store sales rose 7.9 per cent, with expansion in 41 markets and 5,692 stores. Online sales grew 16 per cent, totalling €9.1 billion. Gross profit climbed 11.9 per cent to €20.8 billion, EBITDA was up 13.9 per cent to €9.9 billion, and net income surged 30.3 per cent.The group also saw a 16 per cent increase in online sales, totalling €9.1 billion. Gross profit for FY23 rose by 11.9 per cent to €20.8 billion, with the gross margin improving to 57.8 per cent, a 77-basis-point increase. Inditex's EBITDA saw a 13.9 per cent rise to €9.9 billion, while EBIT surged by 23.4 per cent to €6.8 billion. Pre-tax profits grew by 28.2 per cent to €6.9 billion, with net income jumping 30.3 per cent from the previous year to €5.4 billion.The company's strong operational performance, coupled with normalisation in supply chain conditions, resulted in a 7 per cent reduction in inventory as of January 31, 2024, compared to the same date in 2023. Fibre2Fashion News Desk (DP) More Inditex News... More Retail News - Spain...

Retail US retail sales to surge 4-6% in 2023: NRF forecast 01 Apr '23 2 min read Pic: 2p2play / Shutterstock.com Insights US retail sales are expected to grow between 4-6 per cent in 2023 to reach $5.13-$5.23 trillion, with non-store and online sales growing 10-12 per cent, as per NRF. Despite the convenience of online shopping, physical stores remain the primary point of purchase. NRF projects slower GDP growth of 1 per cent and inflation between 3-3.5 per cent. US’ retail sales are forecast grow 4 per cent to 6 per cent in 2023, according to the National Retail Federation (NRF). The total sales are expected to reach between $5.13 trillion and $5.23 trillion in 2023. The projected growth rate for retail sales in 2023 is lower than the 7 per cent growth rate to $4.9 trillion in 2022, but it is still above the pre-pandemic average annual retail sales growth rate of 3.6 per cent.Non-store and online sales, which are included in the total figure, are expected to grow between 10 per cent and 12 per cent year-over-year (YoY) to a range of $1.41 trillion to $1.43 trillion. While many consumers continue to utilise the conveniences offered by online shopping, much of that growth is driven by multichannel sales, where the physical store still plays an important component in the fulfilment process. As the role of brick-and-mortar stores has evolved in recent years, they remain the primary point of purchase for consumers, accounting for approximately 70 per cent of total retail sales, as per NRF’s annual forecast.US retail sales are expected to grow between 4-6 per cent in 2023 to reach $5.13-$5.23 trillion, with non-store and online sales growing 10-12 per cent, as per NRF. Despite the convenience of online shopping, physical stores remain the primary point of purchase. NRF projects slower GDP growth of 1 per cent and inflation between 3-3.5 per cent.NRF projects full-year GDP growth of around 1 per cent, reflecting a slower economic pace and half of the 2.1 per cent increase from 2022. Inflation is on the way down but will remain between 3 per cent and 3.5 per cent for all goods and services for the year.Although the labour market has remained resilient, NRF anticipates job growth to decelerate in the coming months in lockstep with slower economic activity and the prospect of restrictive credit conditions. The unemployment rate is likely to exceed 4 per cent before next year.“While it is still too early to know the full effects of the banking industry turmoil, consumer spending is looking quite good for the first quarter of 2023,” said NRF Chief Economist Jack Kleinhenz. “While we expect consumers to maintain spending, a softer and likely uneven pace is projected for the balance of the year.” Fibre2Fashion News Desk (DP) More National Retail Federation News... More Retail News - United States Of America...

Retail ICRA upgrades Indian retail sector outlook to stable from negative 01 Aug '22 2 min read Pic: jayk67 / Shutterstock The Indian retail sector is expected to surpass its pre-pandemic levels of revenues and earnings in fiscal 2022-23 (FY23) following two years of sub-par financial performance, according to rating agency ICRA, whose analysis showed retail firms in its sample set will see a rise in sales of 12-13 per cent year over year (YoY) in FY23 and a 5-6 per cent increase above pre-pandemic levels.The retail firms’ operational profit margins (OPMs), driven by the advantages of operating leverage, are anticipated to increase YoY by 150 bps to 8.2 per cent. As a result, the rating agency has revised the sector's outlook to stable from negative."Driven by pent-up demand, improving vaccination coverage and a pick-up in economic activity, the retail sector reported a healthy recovery in sales, post the second COVID-19 wave. While the operations were temporarily affected by the third wave in January and February 2022, the sector bounced back swiftly in March 2022, said Sakshi Suneja, vice president and sector head, ICRA.India's retail sector is expected to surpass its pre-pandemic levels of revenues and earnings in fiscal 2022-23 following two years of sub-par financial performance, according to ICRA, whose analysis showed retail firms in its sample set will see a rise in sales of 12-13 per cent year over year in FY23 and a 5-6 per cent increase above pre-pandemic levels.#“Consequently, sales recovered to up to 90 per cent of pre-COVID levels in FY2022. With the footfalls breaching the pre-pandemic levels in Q1 FY2023, retail entities in ICRA’s sample set are expected to witness a 5-6 per cent revenue growth in FY2023 vis-à-vis the pre-COVID period of FY2020,” she said.“Notwithstanding the near-term challenges in terms of inflationary pressures, positives in the form of favourable demographics, rising disposable incomes, and low penetration of organised retail, augur well for the prospects of the industry over the medium term," she added.The level of discounting by the retail industry remained low during FY2021 and FY2022 compared to FY2020 as retailers attempted to protect their gross margins against the backdrop of reduced sales, ICRA said in a release.With footfalls and revenues surpassing the pre-pandemic levels in FY2023, ICRA expects the level of discounting to go up as retailers compete to grab a higher share of the consumer’s wallet.Driven by a buoyant demand outlook and recovery in footfalls, retailers are expected to continue with their store expansion plans in FY2023.Entities in ICRA’s sample set are expected to increase their capital spending by over 45 per cent in FY2023, with store additions largely targeted towards tier-II and tier-III towns. Fibre2Fashion News Desk (DS) More Retail News - India...

Retail Almost two-thirds of UK consumers cautious about spending money: BRC 30 Sep '22 3 min read Pic: Shutterstock While British consumers respond to increasing inflationary pressure and the threat of a potential recession, differences in consumer behaviour have been observed compared with previous economic downturns, the latest edition of the UK Future Consumer Index released by the British Retail Consortium (BRC) reveals. Almost two-thirds are cautious about spending money.While the cost-of-living crisis has built up over recent months and will intensify over the winter, almost two-thirds of consumers (64 per cent) are more aware and cautious about spending money, while 63 per cent said they would be more focused on getting value for money in the future.While British consumers respond to increasing inflationary pressure and the threat of a potential recession, differences in consumer behaviour have been observed compared with previous economic downturns, the latest edition of the UK Future Consumer Index released by the British Retail Consortium reveals. Almost two-thirds are cautious about spending money.Perceptions of lifestyle and employment challenges are at the lower end of the scale in terms of consumer concern, while rising costs are top of mind for many, BRC said.As the Bank of England has made an official forecast for a recession in the United Kingdom, consumers are becoming more used to disruptive events, and to some extent, more desensitised to them, BRC noted.Consequently, consumers are adapting more readily to these external factors and thus more resilient to change.The biggest concern for consumers right now is their ability to cope with rising and interlinked energy, fuel and food costs.In discretionary purchases, however, fewer consumers have observed price rises, and consumer reaction has been more decisive. For instance, in clothing, shoes and accessories, two-thirds of consumers have observed price rises but nearly half (49 per cent) are buying less and 7 per cent have stopped purchasing altogether.Consumers have polarised at two extremes. At one end are cash-strapped consumers who are watching every penny. At the other are those who are willing to spend—in certain circumstances—and want retailers and brands to excite and entice them to do so.Only 11 per cent of high-income consumers adopt an affordability first mindset. By contrast 42 per cent low-income consumers are driven by affordability first.Consumers in the middle are shifting towards these two extremes. Pessimism is rife for low-income consumers, with nearly half (46 per cent) saying that they feel worse compared with February.Forty-four per cent expect their financial situation to be worse in 12 months and a quarter (26 per cent) feel that their mental well-being will decline in the next six months. Only 39 per cent feel in control of their lives; half of the 79 per cent of high-income consumers feel the same.The number of middle-income consumers who expect their mental wellbeing to worsen (13 per cent) is about three times higher than the number of high-income consumers (5 per cent). A third expect their financial situation to be worse in 12 months, more than twice high-income consumers.Sustainability remains a priority for all consumers. This trend is most noticeable among middle and high-income groups where 28 per cent and 23 per cent respectively are adopting a ‘planet first approach’.Sustainability priorities are manifesting in a shift towards conscious consumption behaviours rather than spending on sustainable products. Consumers are focused on making and mending, with 70 per cent of all consumers prefer to repair things rather than replace them.At the same time, three-quarters say they are less interested in the latest fashion trends. Almost two-thirds (64 per cent) do not feel the need to keep up with the latest technology trends. Thirty-seven per cent of consumers say they are buying more second-hand products, BRC added. Fibre2Fashion News Desk (DS) More British Retail Consortium News... More Retail News - United Kingdom...

Retail American retailer Express' net sales at $435.3 mn in Q2 FY23 08 Sep '23 3 min read Pic: JHVEPhoto / Shutterstock.com Insights US fashion retailer Express, Inc reported a 6 per cent decline in Q2 FY23 consolidated net sales, dropping to $435.3 million. Express and UpWest brands saw a 15 per cent decrease in net sales. Bonobos brand reported better-than-expected net sales of $40.9 million. Operating losses were $39.6 million, contrasting with last year's $10.4 million income. Express, Inc, a leading US-based fashion retailer, has posted a decrease of 6 per cent in consolidated net sales to $435.3 million in the second quarter of fiscal 2023 (Q2 FY23). The gross margin stood at 23.1 per cent of net sales, showcasing a downturn from the 33.1 per cent reported in the second quarter of the preceding fiscal, a regression of approximately 1000 basis points.The selling, general, and administrative expenses were recorded at $146.1 million, representing 33.6 per cent of net sales, a raise against $143.3 million, or 30.8 per cent of net sales, witnessed in the same quarter of FY22, the company said in a press release.US fashion retailer Express, Inc reported a 6 per cent decline in Q2 FY23 consolidated net sales, dropping to $435.3 million. Express and UpWest brands saw a 15 per cent decrease in net sales. Bonobos brand reported better-than-expected net sales of $40.9 million. Operating losses were $39.6 million, contrasting with last year's $10.4 million income.Express’ operating loss was $39.6 million Q2 FY23, which starkly contrasts with the operating income of $10.4 million accrued in Q2 FY22. The net loss exacerbated to $44.1 million, equating to $11.79 per diluted share. This was a downturn from a net income of $7 million, or $2.05 per diluted share, documented in the second quarter of the previous fiscal.For the Express and UpWest brands, the company noted a 15 per cent reduction in net sales in Q2 FY23 amounting to $394.4 million, down from $464.9 million in the corresponding quarter of the previous year. Furthermore, the comparable sales experienced a decline of 14 per cent, albeit witnessing a significant sequential improvement monthly.Breaking down further, the comparable retail sales, encompassing both Express stores and e-commerce platforms, were down by 13 per cent in comparison to the second quarter of FY22. While the retail stores saw a decline in comparable sales by 21 per cent, e-commerce platforms suffered a 1 per cent decrease. Additionally, the quarter also observed a reduction in comparable outlet sales by 17 per cent compared to the same period in FY22.The company’s Bonobos brand registered net sales that exceeded expectations, racking up $40.9 million.Inventory was $415.8 million, including $55.7 million of Bonobos inventory, at the end of the second quarter of FY23, up 20 per cent compared to $346.2 million at the end of the second quarter of FY22."Second quarter net sales and diluted loss per share were within the ranges of our outlook, and we are gaining momentum. In the Express brand, we drove significant, sequential improvement each month driven by a powerful trend change in our women’s and e-commerce businesses. This momentum continued through Labor Day," said Tim Baxter, chief executive officer. "Bonobos’ sales also exceeded our expectations, delivered operating income accretive to our total and is positioned to be a growth engine for Express." Fibre2Fashion News Desk (DP) More Retail News - United States Of America...

Retail UK retail sales volumes fall by 0.1% in Jun following 0.8% drop in May 24 Jul '22 2 min read Pic: Shutterstock UK retail sales volumes fell by 0.1 per cent in June this year following a drop of 0.8 per cent in May (revised from a fall of 0.5 per cent), according to the Office of National Statistics (ONS). Sales volumes were 2.2 per cent above their pre-pandemic February 2020 levels, but down over the past year. Retail sales values rose by 1.3 per cent in June following a rise of 0.6 per cent in May.Non-store retailing (predominantly online retailers) sales volumes fell by 3.7 per cent in June and were 20.8 per cent above their February 2020 levels.Non-food stores sales volumes fell by 0.7 per cent over the month because of falls in clothing stores (minus 4.7 per cent) and household goods stores (minus 3.7 per cent), such as furniture stores.UK retail sales volumes fell by 0.1 per cent in June this year following a drop of 0.8 per cent in May, according to the Office of National Statistics (ONS). Sales volumes were 2.2 per cent above their pre-pandemic February 2020 levels, but down over the past year. Retail sales values rose by 1.3 per cent in June following a rise of 0.6 per cent in May.#The proportion of retail sales online fell to 25.3 per cent in June, its lowest proportion since March 2020 (22.8 per cent), continuing a broad downward trend since its peak in February 2021 (37.4 per cent).Compared with the same period a year earlier, retail sales volumes fell by 5.5% in the three months to June 2022, while sales values rose by 4.4 per cent, reflecting an annual implied deflator (or implied growth in prices) of 9.9 per cent. Fibre2Fashion News Desk (DS) More Retail News - United Kingdom...

The smartphone and tablet repair and refurbishment retailer is seeing significant growth after becoming a major resale outlet for devices.

Retail news: Walmart plans to revamp 500 of its U.S. brick-and-mortar locations in an effort to keep physical retail relevant in the eCommerce age.

Retail Australia's retail sales up by 0.4% MoM, 5.4% YoY in Mar 2023 04 May '23 2 min read Pic: Shutterstock/Sheviakova Kateryna Insights Retail businesses in Australia grew by 0.4 per cent MoM and 5.4 per cent YoY in March 2023.However, clothing, footwear, and personal accessory retailing fell 1.0 per cent, while department stores fell 0.2 per cent and other retailing was relatively unchanged.Queensland was the only state or territory in the country to record a rise over 1.0 per cent. Retail businesses in Australia grew by 0.4 per cent month-on-month (MoM), following a 0.2 per cent rise in February 2023, and by 5.4 per cent year-on-year (YoY) in March 2023. Meanwhile clothing, footwear, and personal accessory retailing fell 1.0 per cent (around -$31.0 million) in March, in seasonally adjusted terms, as per the Australian Bureau of Statistics (ABS).Retailing in department stores in Australia fell 0.2 per cent at -$3.7 million in March 2023, in seasonally adjusted terms. Moreover, other retailing was relatively unchanged at -$0.9 million in March, in seasonally adjusted terms, ABS said in a press release.Retail turnover rose modestly across the states and territories, with most rises below 1.0 per cent. Queensland at 1.2 per cent was the only state or territory to record a rise over 1.0 per cent, and this was a bounce back from a 0.4 per cent fall in February.Retail businesses in Australia grew by 0.4 per cent MoM and 5.4 per cent YoY in March 2023. However, clothing, footwear, and personal accessory retailing fell 1.0 per cent, while department stores fell 0.2 per cent and other retailing was relatively unchanged. Queensland was the only state or territory in the country to record a rise over 1.0 per cent.Ben Dorber, ABS head of retail statistics, said: “While retail sales recorded a third straight rise in March, a pull-back in spending on discretionary goods has seen monthly turnover remain at a similar level to six months ago.“Spending on non-food retailing has slowed in response to interest rate rises and increased cost of living pressures. This follows increased spending during and immediately following much of the COVID-19 pandemic period.” Fibre2Fashion News Desk (NB) More Retail News - Australia...

Retail US' Citi Trends registers sales of $173.6 million in Q2 FY23 23 Aug '23 3 min read Pic: Citi Trends Insights Citi Trends, a specialty value retailer, has reported sales of $173.6 million in the second quarter of 2023.Comparable store sales decreased by 5.3 per cent. Gross margin was 38.2 per cent in the second quarter of 2023, up from 38.1 per cent in the second quarter of 2022. Full year guidance projects negative mid-to-low single-digit sales compared to 2022. Citi Trends, a leading specialty value retailer of apparel, accessories and home trends, has recorded total sales of $173.6 million in the second quarter of fiscal 2023, a decrease of 6.2 per cent as compared to the second quarter of fiscal 2022. Comparable store sales also saw a decline of 5.3 per cent in the second quarter of fiscal 2023.The company has posted a gross margin of 38.2 per cent in the second quarter of fiscal 2023 as compared to 38.1 per cent in the second quarter of fiscal 2022; 150 bps increase to the first quarter of fiscal 2023.Citi Trends, a specialty value retailer, has reported sales of $173.6 million in the second quarter of 2023. Comparable store sales decreased by 5.3 per cent. Gross margin was 38.2 per cent in the second quarter of 2023, up from 38.1 per cent in the second quarter of 2022. Full year guidance projects negative mid-to-low single-digit sales compared to 2022.Citi Trends has registered total liquidity of approximately $141 million at the end of the quarter, made up of $65.8 million of cash, no borrowings under a $75 million credit facility, and no debt. During the second quarter of fiscal 2023, the company opened five new stores, closed two underperforming locations and remodeled eight stores, ending the quarter with 611 stores.“We are pleased with our second quarter results that reflect positive momentum for both the top line and gross margin, against a continued challenging macro backdrop. The quarter was highlighted by significant sequential comparable store sales acceleration from the first quarter, a strong gross margin of 38.2 per cent and well managed expenses. Importantly, we experienced improved traffic levels and strong conversion throughout the quarter, signaling that our product assortment, strengthened by our strategic inventory rebuild in key areas of the business, is resonating with our loyal customers,” David Makuen, chief executive officer, said.“I am incredibly proud of how our team managed the business, while maintaining a laser focus on our strategic priorities and taking decisive actions that reflect our deep connection and understanding of our customers. While the discretionary landscape remains under pressure, we are reiterating our guidance for the fiscal year that incorporates our continued efforts to improve what we can control. We are excited about our back-to-school and early Fall assortments showcased in our unique in-store experience that positions Citi Trends as a one-stop solution for trends for the entire family in their local neighborhoods,” Makuen continued.Full year total sales are expected to be in the range of negative mid single-digits to negative low single-digits as compared to fiscal 2022. Full year gross margin expected to be in the high thirties. The company plans to open 5 new stores, remodel 10 to 20 stores and close 10 to 15 underperforming stores in the year. Fibre2Fashion News Desk (RR) More Citi Trends Inc News... More Retail News - United States Of America...

Retail British retailer Next Plc's full price sales up 0.4% in Q3 FY23 06 Nov '22 1 min read Pic: Vytautas Kielaitis / Shutterstock.com Next plc, a British multinational clothing, footwear, and home products retailer, has reported that its full price sales were up 0.4 per cent versus last year in the third quarter of current fiscal 2022-23 (FY23) that ended October 29. The company has maintained its guidance for full year profit before tax at £840 million, up 2.1 per cent versus last year.As for the company’s Q3 full price sales performance by business channel, the online sales grew by 1.9 per cent and its retail sales (UK and Ireland) grew by 3.1 per cent, Next said in its trading statement.Next is maintaining its previous guidance for full price sales for the rest of the year to be down 2 per cent versus last year.Next plc, a British multinational clothing, footwear, and home products retailer, has reported that its full price sales were up 0.4 per cent versus last year in the third quarter of current fiscal 2022-23 (FY23) that ended October 29. The company has maintained its guidance for full year profit before tax at £840 million, up 2.1 per cent versus last year.Based on the profit guidance for the full year, earnings per share of 554.5p would be up +4.5 per cent versus last year. Fibre2Fashion News Desk (KD) More Next Group PLC News... More Retail News - United Kingdom...

Fashion Tech-fashion fusion fuelling growth of customer-centric industry 13 Jul '23 2 min read Pic: Shutterstock Insights Mudita Jaipuria, founder of Warehouse by Mudita, highlighted the impact of the digital revolution in fashion, emphasising the value of online shopping and AI in shaping the sector. The advent of virtual fitting rooms has transformed the fashion experience, while AI and data analytics have emerged as game-changers, offering personalised style recommendations. The fusion of technology and fashion brings a sense of empowerment to customers and fuels the growth of a more customer-centric industry, Mudita Jaipuria, founder of Warehouse by Mudita said while talking about the digital transformation in the fashion industry.Jaipuria confided her fascination with the digital revolution in the fashion sector to Fibre2Fashion. “I am truly fascinated by the rapid digital transformation unfolding within the fashion industry. It's like witnessing a kaleidoscope of innovation and creativity,” she said.Talking about the growing prevalence of online shopping, Jaipuria underscored its crucial role in shaping lifestyles. “Online shopping has become an indispensable part of our lives, offering convenience and an endless array of options. It has revolutionised the way we explore, embrace, and express our personal style.”Mudita Jaipuria, founder of Warehouse by Mudita, highlighted the impact of the digital revolution in fashion, emphasising the value of online shopping and AI in shaping the sector. The advent of virtual fitting rooms has transformed the fashion experience, while AI and data analytics have emerged as game-changers, offering personalised style recommendations.The founder of Warehouse by Mudita, which is based on the international concept of outlet malls, opined that virtual fitting rooms have revolutionised the fashion experience. “The emergence of virtual fitting rooms has added an exhilarating twist to the fashion experience. Picture this: trying on different outfits virtually, seeing how they accentuate your unique features, and feeling that thrill of anticipation as you find the perfect match. It bridges the gap between imagination and reality, bringing fashion exploration to new dimensions.”Additionally, she noted the transformative impact of AI and data analytics in the fashion world, saying that their ability to decipher intricate patterns, understand individual preferences, and curate personalised recommendations is a game-changer. “It's like having a personal stylist who knows you inside out, guiding you towards the styles that make you shine.”In an earlier interview with F2F, Jaipuria identified technology and personalisation as the key consumer trends in designer wear along with influencer culture, sustainability, heritage, comfort, and online shopping. “The use of technology, such as digital printing and 3D modelling, is becoming more common in the fashion industry, and customers are seeking innovative designs that incorporate these technologies.” Fibre2Fashion News Desk (KD) More Warehouse By Mudita News... More Fashion News - India...

Retail China's retail sales of consumer goods rise by 2.5% YoY to $512.22 bn 17 Aug '23 1 min read Pic: Sorbis / Shutterstock Insights Retail sales of consumer goods in China saw stable growth in July this year, rising by 2.5 per cent year on year (YoY) to nearly 3.68 trillion yuan ($512.22 billion), according to official data. Between January and July this year, the figure rose by 7.3 per cent YoY. Online retail sales rose by 12.5 per cent in the first seven months this year. Retail sales of consumer goods in China witnessed stable growth in July this year, increasing by 2.5 per cent year on year (YoY) to nearly 3.68 trillion yuan ($512.22 billion), according to data from the National Bureau of Statistics (NBS). Between January and July this year, the figure rose by 7.3 per cent YoY.The consumer market continued to recover and service consumption grew rapidly, an NBS statement said."Domestic demand kept growing," NBS spokesperson Fu Linghui told a press conference. "The service consumption, such as summer vacation tourism, picked up markedly, offering significant support for expanding consumption."Retail sales of consumer goods in China saw stable growth in July this year, rising by 2.5 per cent year on year (YoY) to nearly 3.68 trillion yuan ($512.22 billion), according to official data. Between January and July this year, the figure rose by 7.3 per cent YoY. Online retail sales rose by 12.5 per cent in the first seven months this year.Online retail sales rose by 12.5 per cent in the first seven months this year, and service sales surged by 20.3 per cent, a state-controlled news agency reported. Fibre2Fashion News Desk (DS) More Retail News - China...

Get ready for better stores and better retailing. We expect 2019 to be a year of reinvention — and not just for the retail sector as a whole, but for physical stores in particular. As we outline over the following pages, we anticipate that the year will be marked by spectacular retail, fast retail and smart retail.

Retail £14-mn Frasers Group offer to acquire flash sales site MySale rejected 19 Sep '22 1 min read Pic: Shutterstock UK-based Frasers Group’s £14-million offer to buy flash sales site MySale has been rejected, with the latter saying the offer is too low at two pence per share. Frasers Group said it wants to acquire MySale to complement its existing offering, while MySale said no discussions on commercial collaborations have taken place. The group acquired a near 29 per cent stake in MySale in June.MySale’s directors have recommended shareholders reject the Frasers offer.Frasers Group's £14-million offer to buy MySale has been rejected, with the latter saying the offer is too low at two pence per share. Frasers Group said it wants to acquire MySale to complement its existing offering, while MySale said no discussions on commercial collaborations have taken place. The group acquired a near 29 per cent stake in MySale in June.MySale operates in Australia and New Zealand. Frasers Group owns retailers like Sports Direct, House of Frasers and Evans Cycles.In August, Frasers initiated a bid to take full ownership of MySale. At two pence per share, it valued the MySale share capital Frasers does not own at £13.6 million, and valued all of MySale’s equity at £19 million.“The MySale directors are of the view that a price of 2 pence per MySale share does not reflect an adequate value or premium for control of MySale and therefore undervalues MySale and its prospects,” MySale said. Fibre2Fashion News Desk (DS) More Retail News - United Kingdom...

Retail 80% of global CPR companies diversify to tackle delivery woes 21 Nov '23 2 min read Pic: Adobe Stock/wafi Insights Facing last-mile delivery challenges and potential festive season stockouts, global consumer products and retail companies are diversifying and localising supply chains. About 80 per cent of these companies are diversifying suppliers, with over 70 per cent investing in regionalisation. Notably, 83 per cent adopt 'friend-shoring' with allied countries. In response to increasing challenges in last-mile delivery and the anticipation of stockouts during the festive season, global consumer products and retail (CPR) companies are strategically diversifying and localising their supply chains. Nearly 80 per cent of CPR organisations are diversifying suppliers, with over 70 per cent investing in regionalisation.Particularly noteworthy is the rise of ‘friend-shoring’, a practice focusing on politically and economically allied countries, adopted by 83 per cent of organisations, according to a report titled ‘Illuminating the path: Building resilient and efficient supply chains in the consumer products and retail industry’ by Capgemini Research Institute.This shift is set against a backdrop of geopolitical issues that 77 per cent of CPR organisations say are affecting supply chain costs and efficiency. Consequently, nearshoring and domestic sourcing are gaining prominence, with a projected decline in offshore procurement by 7 per cent by 2025, while nearshoring and domestic sourcing are expected to rise by 4 and 3 per cent, respectively.Facing last-mile delivery challenges and potential festive season stockouts, global consumer products and retail companies are diversifying and localising supply chains. About 80 per cent of these companies are diversifying suppliers, with over 70 per cent investing in regionalisation. Notably, 83 per cent adopt 'friend-shoring' with allied countries.The report also highlights the anticipation of challenges in the 2023 holiday season, including stockouts and import delays. To address these, CPR companies are prioritising cost efficiency through improved planning, process improvement, and automation. Data management, cloud computing, and automation are at the forefront of technologies being adopted for cost savings and revenue generation.Moreover, sustainability remains a crucial focus, with 75 per cent of CPR organisations making concerted efforts in this direction. Despite this, the report indicates a need for increased commitment, as less than half of the companies have effectively deployed sustainability initiatives. Fibre2Fashion News Desk (NB)

Retail UK retail sales show signs of slowing decline in Sept 2023: Survey 26 Sep '23 3 min read Pic: Shutterstock Insights UK retail sales showed signs of slowing decline, improving to a weighted balance of minus 14 per cent in September from minus 44 per cent in August, according to a survey by Confederation of British Industry. Retailers expect further moderation, alongside stabilising stock levels and supplier orders. Internet sales are set for a sharp drop next month. UK’s sales volumes for the year to September 2023 showed a weighted balance of minus 14 per cent, a marked improvement from the minus 44 per cent reported in the year to August, according to the latest monthly Confederation of British Industry (CBI) Distributive Trades Survey.Retailers are optimistic that this downturn in sales will continue to ease in the coming month, with an expected drop of just minus 8 per cent. Additionally, retail stock positions softened in September but remain slightly elevated in relation to expected sales, recording a balance of 6 per cent as compared to 15 per cent in August. Retailers are optimistic that stock levels will be broadly adequate next month, with a projected balance of 3 per cent.Orders placed on suppliers also continue to decline, though at a slower pace than last month, standing at minus 19 per cent compared to minus 37 per cent in August. This trend is expected to continue with a projected decline of minus 15 per cent for next month. Sales volumes for the month of September were seen as marginally above the seasonal average, with a positive balance of 5 per cent, a recovery from minus 9 per cent in August. Retailers expect these numbers to be in line with seasonal norms in the upcoming month, with a projection of 2 per cent, as per the survey.UK retail sales showed signs of slowing decline, improving to a weighted balance of minus 14 per cent in September from minus 44 per cent in August, according to a survey by Confederation of British Industry. Retailers expect further moderation, alongside stabilising stock levels and supplier orders. Internet sales are set for a sharp drop next month.Internet sales volumes remained largely unchanged this year until September, showing a slight negative balance of minus 3 per cent. However, a significant decline is anticipated for the next month, with projections showing a steep fall to minus 36 per cent. Meanwhile, in the broader distribution sector, wholesale volumes for the year to September remained consistent with last month, at a negative balance of minus 23 per cent. These are expected to stabilise next month at a balance of 0 per cent.Martin Sartorius, CBI principal economist, said: “The retail sector endured a fifth consecutive annual sales decline in September, but there are some signs that this contractionary momentum may be running out of steam. Real wage growth and improving consumer confidence should provide retailers with some much-needed support going into the crucial autumn and winter trading period.“Nonetheless, retailers’ growth prospects will continue to be constrained by persistent cost pressures and lacklustre UK economic momentum. There is an opportunity in the forthcoming autumn statement to create a business environment for growth, whether it’s through an investment-focused tax regime or helping firms find and/or reskill the staff they need with a reformed Apprenticeship Levy.” Fibre2Fashion News Desk (DP) More Confederation of British Industry News... More Retail News - United Kingdom...