Drapers’ latest survey of independent fashion retailers shows how they are navigating global macro-economic headwinds, the cost of living crisis and the fallout from Covid and Brexit, as well as the shifting retail landscape and what support they need for the future.
Footwear retailer Dune has appointed accounting firm KPMG in a drive to attract new investors to the business.
Luxury business Richemont reported a 5% increase in sales for the three months ended 31 December 2022, but the results were hit by "China’s underperformance" as the country was hit by fresh Covid outbreaks.
Retail footfall in the UK over the Christmas period was the strongest since the outbreak of Covid, despite the impact from from rail strikes, the cost of living crisis and the cold weather.
Primark saw total sales grow by 43% year on year to £7.7bn for the 52 weeks to 17 September 2022, citing that normal customer behaviour had resumed after the pandemic.
Now in its fourth annual edition, this exclusive Drapers deep dive consumer research report tracks and analyses the evolving shopping habits and fashion preferences of Generation Z and millennial consumers in the UK.
Elizabeth Alibhai, partner at retail specialist law firm RPC, says it is "crucial" that retail tenants with outstanding Covid-19-related arrears plan for how they are going to deal with any debts before new binding arbitration rules come into force on 25 March.
Scotland's first minister Nicola Sturgeon has outlined her framework for easing legal Covid restrictions across Scotland.
Next has cut sick pay for unvaccinated staff who must self-isolate because of Covid-19 exposure, while John Lewis & Partners has said it doesn’t “believe it's right to create a link between a partner's vaccination status and the pay they receive”. Drapers asks employment lawyers for their advice.
“Plan B” measures, including the mandatory wearing of face masks and working from home guidance, are set to end in England on 27 January.
Drapers Fashion retail industry news, trends and analysis