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UK consumer confidence dips to record low in June - GfK
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.
Fashion
June UK retail sales dip again, July looks flat - CBI
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.
Fashion
Klarna launches loyalty card within its app
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".
Fashion
Start of Harrods summer sale delayed by supply issues
Shoppers awaiting the start of the renowned Harrods summer sale will have to wait a bit longer. The luxury department store in London’s Knightsbridge has delayed its next sale season by a fortnight.
Luxury
UK consumers rein in spending as inflation bites - GWI report
As the cost-of-living crisis deepens, it’s no wonder almost a third of UK consumers are now feeling insecure about their finances, according to a new survey from audience insights company GWI.
Fashion
Boohoo names new CFO as incumbent moves to strategic projects role
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”.
Fashion
Matalan makes strides in turnaround, new in-house womenswear labels strong
Matalan has filed its accounts for its latest financial year and also updated on the first quarter of this year with the company clearly making progress in its turnaround.
Fashion
Loro Piana names Knit Design Award winners
Loro Piana has announced the winners of the sixth edition of its international Knit Design Award competition. The winners were students Po-Chieh Chiu and Shanon Poupard from the Institut Français de la Mode, Paris.
Fashion
M&S slams cabinet minister Gove over public inquiry into Marble Arch store plans
M&S has lost its patience over long-running delays surrounding the demolition and rebuild of its flagship store at the Marble Arch end of London’s Oxford Street.
Fashion
Consumers want more personalisation but worry about privacy - report
Here’s a dilemma. Customers expect personalisation during every brand interaction — but they don’t trust brands to keep their personal data secure and to use it responsibly.
Fashion
Brexit has damaged UK economy even though trade with EU has recovered
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.
Fashion
UK inflation spikes again to hit another 40-year high
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.
Fashion
Primark unlikely to add home delivery, despite click & collect trial
The billionaire whose family controls Primark’s parent company has poured cold water on the idea that its newly-announced trial of click & collect services could lead to an eventual full offer online.
Fashion
Asda chair Rose calls for more government help for businesses, consumers
Retail stalwart Stuart Rose has joined business leaders in calling on the government to act on the cost of living crisis and rocketing inflation. The Asda chairman has urged ministers to help struggling households.
Fashion
UK government outlines BNPL tightening rules
Long-awaited proposals to tighten buy-now-pay-later (BNPL) rules in the UK have been tabled by the government In a bid to improve protection for users of the short-term credit.
Fashion
Hot weather both helps and hinders UK footfall in latest week
Two weekly footfall reports on Monday showed that visitor traffic to retail destinations continues to climb, but that the goal of reaching and even exceeding the same level as 2019 remains elusive.
Fashion