Retail
UK: Golden Quarter fails to salvage 2024 trade
Total UK retail sales grew by 0.7% in 2024 as compared to the previous year, as the Golden Quarter recorded sales growth of just 0.4% year-on-year, the British Retail Consortium (BRC) said
Macy’s to close 66 stores as part of turnaround strategy
The US department store chain has confirmed the closure of 66 stores as part of its Bold New Chapter strategy, which aims to return the company to sustainable, profitable sales growth
Spain Retail: will the positive momentum hold up?
Fashion retail sales were generally positive from July to November 2024, but will this trend continue? While we await official data on year-end sales, the negative footwear inflation seen in October and November, combined with a rise in consumer confidence, may have helped to boost spending. And with import figures showing that retailers were stocking up, let’s hope the holidays were the reason, as a recent dip in retail confidence could be just the bad news the sector didn’t need to hear at the start of the year
New Look to accelerate store closures ahead of tax changes
The British fashion retailer is reportedly accelerating its store closure campaign ahead of tax rises in the UK’s next budget. It’s feared more retailers will follow in its footsteps
Footwear Consumption to increase by 8.4% in 2025
The 11th edition of the World Footwear Business Conditions Survey results are now available. Despite the uncertain scenario, the expectation of our experts is for growth in footwear consumption in 2025. Europe stands out as it will continue stagnant
US holiday retail sales up by 3.8% as consumers prioritised value
US retail sales rose by 3.8% year-over-year from November to Christmas, according to Mastercard Spending Pulse, as consumers prioritised getting the best deal and digital-first shopping
UK consumers to cut spending in January
UK retailers could be bracing themselves for a squeeze in consumer spending due to a sharp fall in expectations about the country’s economic situation, according to the British Retail Consortium
UK retail jobs reach a seasonal low
The UK's retail sector navigates declining employment levels and rising labour costs, with new government policies in 2025 expected to add financial strain and push further automation investment
Saks completes the acquisition of Neiman Marcus
For a total enterprise value of 2.7 billion USD, the luxury retail and real estate company Saks Global now includes Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks OFF 5TH
France Retail: retailers cautiously optimistic for the holidays
October brought good news for footwear sales and retailer confidence is also on the rise, despite negative footwear inflation and rising costs. However, the picture isn’t clear regarding consumer confidence, which fell to a five-month low in November as households worried about the economic outlook in light of France’s difficult political environment. Will this weigh on footwear sales in the last two months of the year, or will recent news that consumers are planning to spend more on the festive season prevail?
Macy's concludes internal investigation and reports results
The US-based company delayed the announcement of its third quarter results due to deliberate accounting errors. Macy's assured stakeholders of limited financial impact and declared stricter controls
Shoe Carnival strengthens returns to shareholders
The US footwear retailer announced a quarterly dividend and a new stock repurchase program, leveraging cash reserves to support stock performance and corporate initiatives
Netherlands Retail: good expectations for the footwear holiday season
After record growth between July and September, footwear sales fell abruptly in October, accompanied by a hiccup in consumer confidence. But that’s no cause for despair: lower footwear inflation has kept footwear prices relatively stable and there has been a recent upturn in retailer confidence. This could bode well for the future of footwear imports, especially with the festive season just around the corner. In this context, the online channel will continue to be favoured by Dutch consumers to shop
UK retailers eye continued growth from Black Friday sales
Following a slow start to the festive season and subdued consumer confidence, UK retailers are hopeful that Black Friday's boost in spending will sustain momentum in the lead-up to Christmas
E-commerce led the way on US Black Friday
US retail sales were up by 3.4% on Black Friday compared to the same day last year, according to Mastercard SpendingPulse, driven by a significant 14.6% increase in online sales-
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