The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
LONDON, United Kingdom — Britain's John Lewis Partnership said sales at its department store chain could decline by around 35 percent over the full year in a worst case scenario due to the coronavirus crisis, it said on Tuesday.
The employee-owned group, which also owns the Waitrose supermarket business, said sales at John Lewis were down 17 percent year-on-year since the middle of March and down 7 percent since 26 January. Waitrose sales are up 8 percent since January 26.
The company, which has shut all its department stores in the national lockdown, said it had seen a surge in online demand but said many of the most sought after items were in less profitable lines. "We are buying more Scrabble but fewer sofas," it said.
By Kate Holton; editor: James Davey.
The company, under siege from Arkhouse Management Co. and Brigade Capital Management, doesn’t need the activists when it can be its own, writes Andrea Felsted.
As the German sportswear giant taps surging demand for its Samba and Gazelle sneakers, it’s also taking steps to spread its bets ahead of peak interest.
A profitable, multi-trillion dollar fashion industry populated with brands that generate minimal economic and environmental waste is within our reach, argues Lawrence Lenihan.
RFID technology has made self-checkout far more efficient than traditional scanning kiosks at retailers like Zara and Uniqlo, but the industry at large hesitates to fully embrace the innovation over concerns of theft and customer engagement.