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 shoppers sheltered at home on Thursday, with the numbers hitting post-Christmas sales set to drop significantly for a fourth year in a row, initial data showed.
Footfall up to 12 pm on Dec. 26, known in Britain as Boxing Day and a key date for retailers, was down 10.6 percent compared with the same period a year ago, market research company Springboard said, adding that bad weather had deterred shoppers.
High streets were most affected by the rainy weather with consumers reluctant to go out in the morning, Springboard said.
Black Friday sales in November and a growing number of people shopping online have reduced Boxing Day footfall in recent years.
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"Boxing Day is indisputably a less important trading day than it once was," said Diane Wehrle, Insights Director at Springboard, adding that the Boxing Day footfall was 10.9 percent lower than during Black Friday morning.
Barclaycard, part of Barclays Bank PLC, has said Britons were set to spend £3.7 billion ($4.8 billion) in the post-Christmas sales — £200 million less than last year — partly due to environmental concerns, including about the impact of so-called "fast fashion."
By Maria Kiselyova; editor: Kirsten Donovan
The British musician will collaborate with the Swiss brand on a collection of training apparel, and will serve as the face of their first collection to be released in August.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.