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 — UK retail sales dropped by nearly a fifth last month as restrictions to control the coronavirus left most stores shuttered.
Sales volumes declined 18.1 percent from March, the most since records began in 1988, the Office for National Statistics said Friday. From a year earlier, sales fell 22.6 percent.
The unprecedented decline shows the hit the economy has taken from the UK’s lockdown, which left only supermarkets, pharmacies and other essential stores open. April’s reading may prove the nadir however, with other shops gradually reopening this month and more hopeful of a return in June.
A bright spot was online sales, which surged to a record, as the lockdown forced people to shop online.
By Jill Ward and David Goodman.
Fast-growing start-ups like Hettas, Saysh and Moolah Kicks created sneakers designed specifically for active women. The sportswear giants are watching closely.
The companies agreed to cap credit-card swipe fees in one of the most significant antitrust settlements ever, following a legal fight that spanned almost two decades.
In an era of austerity on Wall Street, apparel businesses are more likely to be valued on their profits rather than sales, which usually means lower payouts for founders and investors. That is, if they can find a buyer in the first place.
The fast fashion giant occupies a shrinking middle ground between Shein and Zara. New CEO Daniel Ervér can lay out the path forward when the company reports quarterly results this week.