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.
NEW YORK, United States — US holiday sales rose a less-than-forecast 3 percent, the National Retail Federation said, as merchants coped with unseasonably warm weather and a shift to spending on services.
Holiday spending, which the group had projected to rise 3.7 percent, grew to $625.9 billion in the period, which spans November and December. Non-store sales, an indicator of e- commerce transactions, increased 9 percent to $105 billion, the NRF said. The figures exclude spending on automobiles, gasoline and restaurants.
Retailers faced with mild weather and high inventories slashed prices to lure shoppers in the 2015 holiday season. As consumers shifted spending to experiences and services, such as restaurants, shows and nail salons, more retailers added promotions like free shipping.
Research firm First Data said this month that retail sales increased 3.3 percent from Oct. 31 through Jan. 4, up from a 3.2 percent gain in the year-earlier period. The Thanksgiving holiday weekend dominated spending in the period, with sales rising 6.3 percent, the firm said, while the last two weeks of December also showed a higher concentration of sales.
By: Lindsey Rupp; editors: Nick Turner and Mark Schoifet.
Malls across the US have been ‘flash robbed’ by groups of about 20 to 30 suspects stealing retail merchandise.
BoF Careers provides essential sector insights for fashion professionals in retail this month, to help you decode fashion’s retail landscape.
The sportswear giant’s lifestyle and fashion division is set to release a new campaign and “visual identity” to emphasise the cultural cachet of its Samba, Gazelle and Superstar sneaker franchises.
European retailers have been unlikely stock market stars this year, but a long spell of high borrowing costs and inflation has started to bite, so wary investors will be looking for reassurances from the likes of H&M and Zara-owner Inditex when they issue business updates this week.