UK consumer confidence fell to a record low in June as shoppers grappled with a stark new economic reality, figures from Gfk’s long-running series of reports show. Its confidence Index dipped one point to -41.
German online fashion e-tailer Zalando has been forced to revise its guidance for the year. It cited a further deterioration in macroeconomic conditions as the EU consumer confidence index fell further in June.
With the UK beauty market booming, Botox is going even more mainstream. Once confined to high street clinics, Botox treatments are now available at John Lewis beauty departments for customers aged 25+.
The first monthly retail sales report for June is out and it doesn’t look good. The Confederation of British Industry has released its regular report and said retail sales volumes fell slightly in the year to June.
Easy payments financier Klarna has launched a loyalty card feature on its app. It will allow users to store and access their physical loyalty cards as a digital version “removing the need to carry plastic equivalents".
E-tail giant Boohoo Group has named Shaun McCabe as its new CFO to succeed Neil Catto whose role will transition to an Executive Director, remaining on the board, “with responsibility for strategic projects”.
Britain is becoming a more closed economy due to Brexit, with bad long-term implications for productivity and wages to leave the average worker £470 a year poorer by the end of the decade, a study said on Wednesday.
Soaring food prices pushed British consumer price inflation to a 40-year high of 9.1% last month, the highest rate out of the Group of Seven countries and underlining the severity of the cost-of-living crunch.
Frasers Group said on Wednesday that it has once again increased its holding in German luxury fashion giant Hugo Boss. The company now – either directly or indirectly – controls more than 30% of the firm’s stock.
L'Oreal chief executive Nicolas Hieronimus said he remained confident about the outlook for the beauty industry with consumers continuing to want to indulge despite the global economy becoming "even more complicated.
Bally has a new chief digital officer with Nathalie Sisouk taking the role at the Swiss luxury brand. The new position comes with a seat on the executive committee, with Sisouk tasked to drive the firm's digital agenda.