Highlights
Japan Retail: the picture is unclear for both consumers and retailers
Contrary to what was suggested in our previous flash, fashion retail sales have fallen sharply since April, by a total of 22.8%, while total retail sales have remained somewhat stable. In this context, the low footwear inflation in Japan, now close to 0%, tends to indicate a lack of demand. Perhaps the growth in consumer spending and tourism will help to turn the situation around, especially given the falling yen in September. However, for now, the future remains unclear for all
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Rocky Brands reports third quarter revenue decline
The US-based footwear company reported an 8.8% year-on-year decline in third quarter net sales. Improved retail revenue and gross margins partially offset wholesale shortfall
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