Podcast: The Wardrobe Crisis interviews model Charlee Fraser

In this episode, The Wardrobe Crisis interviews model Charlee Fraser about reframing the fashion discourse, connecting to one’s country, and mentoring emerging Aboriginal and Torres Strait Islander fashion talent. Listen to the podcast below. Source: The Wardrobe Crisis via OmnyStudio
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Video: Jacquemus' SS21 fashion show

In this video, Jacquemus presents his simple, wearable and beautiful SS21 collection through a fashion show held in a field. Watch the video below. Video: Bayoucool2 via YouTube Photo credit: Jacquemus, Facebook
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Video: FW20/21 menswear trends

In this video, A Fashion reveals its FW20/21 menswear trends, some of which include functional outerwear, loosely fitted suits and printed clothing. Watch the video below. Video: A Fashion via YouTube Photo credit: Unsplash
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Podcast: The Glossy Podcast interviews the founders of loungewear brand Monrow

In this episode, The Glossy Podcast interviews the founders of loungewear brand Monrow, Michelle Wenke and Megan George. They discuss the benefits of focusing on the direct-to-consumer experience, how to acquire and keep customers and dodging pandemic-driven inventory issues. Listen to the podcast below. Source: The Glossy Podcast via Megaphone
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Fast Retailing: Q1 revenue declines but operating profit up 23.3 percent

Consolidated revenue at Fast Retailing, totalled 619.7 billion yen, down 0.6 percent year-on-year, while operating profit totalled 113 billion yen, up 23.3 percent year-on-year driven by large increases in profit from Uniqlo operations in Japan and Greater China including Mainland China, Hong Kong and Taiwan, as well as rising profit and a strong overall performance from GU. On the other hand, the company said in a statement, Uniqlo operations in other parts of Asia & Oceania (including Southeast Asia, Australia, and India), North America, and Europe were hit especially hard by Covid-19, resulting in considerable declines in both revenue and profit. The first-quarter consolidated gross profit margin improved by 2.2 points to 52.4 percent, first-quarter pre-tax profit rose to 107.1 billion yen, up 5 percent and profit attributable to owners of the parent declined to 70.3 billion yen or 0.7 percent. Uniqlo Japan, the company added, reported a rise in revenue and a significant increase in profit in the first quarter, with revenue reaching 253.8 billion yen, up 8.9 percent and operating profit rising to 60 billion yen, up 55.8 percent, while first quarter same-store sales increased by 7.3 percent year-on-year. The company reported strong sales of products such as loungewear and Heattech blankets that fulfilled customer demand for stay-at-home items and Ultra Stretch Active Pants and other items in the sports utility wear range along with haori-style jackets, smart ankle pants, and other fall winter ranges also sold well. Additionally, +J collection with designer Jil Sander, collaborative Peanuts products, and AIRism masks also contributed to the rise in sales. The company’s e-commerce sales expanded strongly, with online sales rising to 36.7 billion yen, up 48.3 percent in the first quarter. Uniqlo Japan’s gross profit margin improved by 3.8 points on the back of a sharp reduction in discounting rates, and rising productivity that helped reduce the cost of sales. Uniqlo International revenue declines but operating profit increases Uniqlo International’s revenue fell to 260.6 billion yen, down 7.2 percent, while operating profit rose to 41.4 billion yen, up 9.5 percent fuelled by a significant increase in profit at Uuniqlo Greater China, especially in Mainland China and Taiwan, and a shift from an operating loss to an operating gain at Uniqlo South Korea. In sharp contrast, the company said, other parts of Asia & Oceania, North America, and Europe were hit harder than expected by Covid-19, resulting in a large decline in first-quarter profit. The GU business segment reported increases in both revenue and profit in the first quarter, with revenue climbing to 76.5 billion yen, up 4.9 percent and operating profit expanding to 13.6 billion yen, up 9.9 percent, while same-store sales increased on strong sales of the sweat-style knitwear that featured in the TV commercials and advertising campaigns, double-faced sweatshirts and chef’s pants that successfully captured mass fashion trends, and loungewear that fulfilled stay-at-home customer needs. GU’s gross profit margin declined by 0.6 point Global Brands reported a large decline in revenue and a slight operating loss in the first quarter. Revenue totalled 28 billion yen, down 22.3 percent and the segment generated an operating loss of 0.2 billion yen compared to a 1.8 billion yen profit recorded in the first quarter of fiscal 2020. Theory fashion label reported large declines in both revenue and profit as performance worsened in the United States, Europe, and Japan in the face of Covid-19, while sales of Japan-based PLST brand did return to previous year levels through October, but first-quarter revenue and profit both declined overall following a rise in Covid-19 infections in November. France-based Comptoir Des Cotonniers brand reported a large decline in revenue and a wider operating loss after temporarily closure of all stores in France for approximately one month from the end of October. Picture:Facebook/Uniqlo
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Nordstrom holiday sales drop by 22 percent

Nordstrom, Inc. has reported a net sales decline of approximately 22 percent for the nine-week holiday period ended January 2, 2021. The company said, combined November and December sales were in-line with its expectations for a decrease in the low-twenties percentage range for the fourth quarter. Sales trends increased sequentially by approximately 500 basis points relative to the third quarter, after adjusting for the shift of the Nordstrom Anniversary Sale from the second quarter to the third quarter in fiscal 2020. “We’re encouraged by the increasing momentum throughout and following the holiday season as we continue to unlock new ways to better serve customers on their terms with greater convenience and connection,” said Erik Nordstrom, chief executive officer of Nordstrom in a statement. The company added that December sales across the Nordstrom and Nordstrom Rack brands reflected sequential improvement from November with momentum continuing into January. Digital sales grew 23 percent over last year and represented 54 percent of total sales compared with 34 percent from the same period in fiscal 2019. As a result of expanded gifting selection, Nordstrom further said, gifting items made up 67 percent of sales, an increase of 600 basis points from the prior year. As a result of its holiday performance, the company continues to expect to deliver positive EBIT and operating cash flow for the fourth quarter. In addition, the company expects fourth quarter EBIT margin to deleverage by approximately 500 basis points relative to the prior year primarily due to lower sales volume. Picture:Nordstrom press room
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Moda Operandi names interim CEO

Online luxury fashion retailer Moda Operandi has appointed Jim Gold as interim CEO. Gold, who was the former president and chief merchandising officer of the Neiman Marcus Group, will replace Ganesh Srivats, who has departed to pursue another opportunity, WWD reports. Gold is also a board member of digital wholesale platform Joor and California-based fashion brand Vuori. “Jim brings with him extensive fashion retail experience and a deep understanding of Moda Operandi’s luxury consumer,” said Lauren Santo Domingo, co-founder and chief brand officer at Moda Operandi, in a statement seen by WWD. She continued: “I look forward to working with Jim as we envision new and exciting ways to serve our extraordinary clients.” It is unclear whether a search for a permanent CEO is underway or if Gold could potentially take on that role.
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Mytheresa announces pricing of US IPO

German luxury fashion e-tailer Mytheresa has revealed the pricing of its IPO that it announced at the end of 2020. The retailer said it plans to sell around 15.6 million American depositary shares (ADS) at between 16 and 18 dollars each. The company will be listed on the New York Stock Exchange under the ticker symbol ‘MYTE’. Mytheresa, which was founded in Munich in 1987 by Susanne and Christoph Botschen, has been growing quickly in recent years as it capitalises on the luxury industry’s shift to online. The business has also performed well during the Covid-19 pandemic. Its consolidated net revenue from its online platform and physical stores in Munich increased 19 percent to 450 million euros last year, up from 377 million euros in 2019. Its online business grew by 20 percent in 2020. Mytheresa was acquired by Neiman Marcus in 2014 after years as a small luxury e-commerce player. Neiman Marcus filed for bankruptcy earlier this year and handed over part of Mytheresa to its creditors as it left Chapter 11. Photo credit: Mytheresa
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Panel discussion: Can common cotton claims be debunked?

Is cotton as bad as its reputation when it comes to water consumption, pesticide and insecticide dependency and land usage? A recent panel discussion titled “Cotton claims - the good, the bad and the nuanced” as part of the Truth Series by the Transformers Foundation - founded early last year as part of the global Kingpins Transformers trade shows for the denim manufacturing sector - tried to answer that question. Four panelists set out to debunk common cotton claims in terms of water and pesticide/insecticide usage and cotton yield, among them Simon Ferrigno, UK-based freelance writer and researcher in the areas of sustainable cotton and agriculture; cotton scientist Dr. Keshav Kranthi who is the technical head of the Washington, DC-based International Cotton Advisory Committee (ICAC); Cannon Michael, farmer and board member of the New York-based Transformers Foundation; and Arun Ambatipudi of Chetna Organic based in Hyderabad, India, which is a 360° development intervention for smallholder and tribal farmer families primarily dependent on rainfed agriculture. Image: Transformers Foundation Does it take 2,700 liters of water to make one t-shirt? The first cotton claim to be debunked was the figure of 2,700 liters of water (the equivalent to 30 bathtubs) needed to make just one cotton t-shirt. This is a global average figure that takes the water consumption from growing the crop to the finished product into account and is the one that is most persistently used by brands, bloggers and organisations like the World Wildlife Fund. According to Ferrigno, this “global average figure” is meaningless and we need to look at different factors that are involved. For example, he said, “the water is not actually used, it is borrowed” as it goes back into a water system. This could mean that a t-shirt that takes 3,000 liters of water to make is more sustainable than one that uses ‘only’ 2,500 liters if most of the 3,000 liters are re-used while most of the 2,500 liters is wasted. Image: WWF Kranthi explained that the global average figure is calculated to provide a benchmark to help countries, farmers and communities place garment production in perspective. According to him, we have to take the complexity of the data into account, for example if we are dealing with irrigated cotton or unirrigated cotton. He referred to data by the ICAC, which may be more accurate. Michael pointed to huge regional differences in production as well as the general usage of water. “It takes a lot of water to produce almost anything,” he said, citing tomatoes as an example. “We are all part of the system,” he added. While that is certainly true, we also need to distinguish between essentials and non-essentials. While tomatoes are an integral part of the diet of people around the world from the Americas to India, owning cotton t-shirts is not a necessity. Image: David Nance via Wikimedia Commons Should consumers stop buying cotton clothes because they use so much water? The second claim looked at the numbers currently floated to put water use for cotton clothes into perspective, for example 10,330 liters of water needed just to grow the cotton used in one jacket, which is equivalent to 24 years of drinking water for one person. This leads to the question if consumers should stop buying cotton clothes if they are so water-intensive. According to Michael, this is a “bad statement to make” because it starts a dialogue that is not constructive. Admitting that “lots of water” is needed to make cotton garments, he pointed to the different irrigation methods used like drip irrigation versus flood irrigation and if ground-water recharge is part of the water that is used. Kranthi called these calculations “disturbing” and pointed out that the numbers are old and that “agriculture needs water”, adding that the 34 million hectares of cotton growing area worldwide needs trillions of liters of water but that much of that number comes from rain. “If farmers don’t use it, that rain water is wasted,” he said. While that is certainly true, the fact remains that there are plants, like hemp, bamboo and nettles for example, that use less water and store the water they use much better, leading to more efficient water management. Does cotton need pesticides? Another common cotton claim is that 25 percent of insecticides and 18 percent of pesticides worldwide are used on cotton growing. This means that potentially harmful chemicals go into the rainwater, worsen air quality, damage flora and fauna and affect human health as well. “These figures are not remotely true,” said Ferrigno, calling them “ancient” and estimating that they are from 30 to 40 years ago. He called the current figures - 22.5 percent of all insecticides used on cotton growing and 14.7 percent of all pesticides - a “huge reduction” but it is clearly not: That means that in 30 to 40 years, despite advances in crop science and farming methods, the percentages have just fallen by 2.5 and 3.3 percent, respectively. Ambatipudi was able to shed light on why that is: “Farmers are dependent on local pesticide dealers who have a vested interest [to push their products],” he explained. So it is more about what products are available in a particular region than what are the most sustainable as there are no systems in place that support farmers in this way. “Farmers get petrified by seeing insects in the field, regardless if they are beneficial insects or pests,” he said. So they spray. He also pointed to a psychological effect of spraying: It puts the farmers’ mind at ease because they want the leaves to shine. Green leaves are equated with healthy leaves and they feel they have done their bit to protect their plants. “Any form of pesticides or chemicals are bad,” admitted Kranthi. But cotton farmers use them because there are so many species of pests that affect them - 1,326 according to Kranthi, many of which are cryptic species, meaning hidden inside the plant, which means the pesticides/insecticides have to also go inside the plant and thus, into the cotton and later the garment. His solution would be to invest in technology that eliminates the need for insecticides or pesticides. Or, what may be a faster, practical approach, why not switch to plants like hemp, nettles, flax or jute that are more pest-resistant? The discussion ended with each panelist giving their recommendations for more sustainable cotton growing practices and debunking cotton myths. For Ambatipudi, this would be better rainwater harvesting, given that currently, 96 percent of rain water is run off and only 4 percent used on cotton, and getting cotton farmers to become organised, enabling them to have more say as part of a long supply chain. Ferrigno would like to see cotton claims being used only after checking them, especially by politicians, while Kranthi hopes for a focus on science and scientific data that the numbers can be backed by. Last but not least, Michael pointed to the leading role that brands and retailers will have to play by making cotton more sustainable and consumers as well by demanding greater transparency. Given the fact that cotton is a crop that requires - if not 2,700 liters of water to make one t-shirt - still a whole lot of water and is not a pest-resistant plant, thus requiring more pesticides and insecticides than alternatives - the question remains why the garment industry is holding on to this one material so desperately? Granted, it would be difficult to replace cotton - short-term or in the long run - with just one alternative but it may be time to branch out and look at multiple alternatives that can take its place and grant more sustainable garment production. Image: S Aziz123 via Wikimedia Commons
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The Hut Group ups full-year guidance as Q4 revenues soar

The Hut Group (THG) has raised its full-year guidance for the third time since launching its IPO in September 2020 following a surge in Q4 revenues. The British online retailer, which owns brands MyBag, Coggles, and All Sole, saw revenues soar 51 percent to 558.7 million pounds in the three months ended 31 December 2020. The fast-growing retailer said it added over 3.5 million new active customers during Q4, bringing its total to 10.7 million new customers for the whole year. The number of customers using its App also soared to 2.6 million by the period end, compared to less than 0.1 million at the end of 2019. THG executive chairman and CEO Matthew Moulding said in a statement: “Following our successful listing on the London Stock Exchange in September 2020, we have accelerated our sales growth across all areas of the Group, underpinned by record new customer numbers. We have also started reinvesting capital raised at IPO, including over 360 million pounds in M&A, principally within the US beauty sector. “Furthermore, we have also invested significantly in our people, creating 3,000 new jobs during 2020, largely within the UK, but also across our international operations. During 2020, we have made significant progress in commercialising our Ingenuity Platform, fast becoming a major global player in taking brands direct to consumers.” Photo credit: The Hut Group
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Marks & Spencer buys Jaeger out of administration

Marks & Spencer has acquired loss-making fashion retailer Jaeger out of administration for an undisclosed sum. The purchase includes the acquisition of Jaeger's brand and stock, but not its 63 remaining standalone stores. Jaeger, which was previously owned by Edinburgh Woollen Mill (EWM) Group, fell into administration in November along with EWM Group’s other brands, including its namesake EWM brand and Peacocks. At the time, London-based Jaeger had 76 stores and concessions and 347 employees. Since then, 13 locations have been closed, making 97 people redundant. It is unclear whether there will be more job cuts related to the new deal. Jaeger bought from administration by Marks & Spencer This latest acquisition by Marks & Spencer comes after the high street giant announced in May plans to stock more online brands, a move that would better position it to compete with rivals like Next. Since that announcement, it has launched partnerships with eco-conscious fashion brand Nobody's Child and vintage-style brand Ghost London. Richard Price, Marks & Spencer’s clothing and home managing director, said in a statement: “We have set out our plans to sell complementary third party brands as part of our Never the Same Again programme to accelerate our transformation and turbocharge online growth. “In line with this, we have bought the Jaeger brand and are in the final stages of agreeing the purchase of product and supporting marketing assets from the administrators of Jaeger Retail Limited. We expect to fully complete later this month.” Photo credit: Marks & Spencer
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Tim Sheerin appointed SVP of U.S. Sales for Columbia Brand

Columbia Sportswear Company has appointed Tim Sheerin as Senior Vice President of U.S. Sales for the Columbia brand. In his new role, the company said, Sheerin will report to Franco Fogliato, Executive Vice President, Global Omni-Channel. “Tim brings a wealth of experience in commercial leadership,” said Franco Fogliato in a statement, adding, “His background in strategy, coupled with his years catalyzing high-performance teams, will help us accelerate growth for the Columbia brand in 2021 and beyond.” Prior in joining Columbia, Sheerin spent twenty years in various senior-level sales and strategy roles at Nike. In his most recent role as vice president of North America Sales, he led Nike’s wholesale business across Nike and Jordan brands, supporting all product lines and categories for North America. “In his new role, Tim is poised to consolidate the strong leading position of the Columbia brand with his knowledge of the U.S. market and extensive network of relationships with customers,” added Fogliato.
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Video: Cristóbal Balenciaga in the spotlight

In this video, the YouTube channel 'The Museum at FIT' presents its Designer Spotlight series in which MFIT curators examine objects in the permanent collection that highlights the work of a specific designer and or contributions to fashion. This time it was Cristóbal Balenciaga's turn to be put in the spotlight. Watch the video below. Source: The Museum at FIT via YouTube
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Paris Fashion Week to go digital due to Covid-19

The Fédération de la Haute Couture et de la Mode has confirmed that Paris Men’s Fashion Week and Haute Couture Week will still go ahead, however, there will be no invited guests this season due to Covid-19 restrictions in the country.  In an e-mail to FashionUnited, the Fédération de la Haute Couture et de la Mode explained that all shows and presentations would now take place online only, as “public gatherings can’t happen”. Fashion houses will still be able to organise live shows with models, “providing that their events take place behind closed doors”. In addition, brands will be able to organise meetings and presentations, providing strict coronavirus guidelines are respected, with organisers adding that this is “subject to a limit on the number of people present at the same time in a given space”. Currently, the French government is enforcing a nightly curfew in metropolitan France from 8 pm to 6 am. While shops and services are now open, bars, restaurants, cinemas, theatres and museums remain closed. Paris Fashion Week and Haute Couture Fashion Week to be audience-free this January Paris Men’s Fashion Week runs from January 19 to 24 and the provisional calendar, which so far only includes dates and times, not formats, includes Louis Vuitton, Rick Owens, Issey Miyake, Dries Van Noten, Dior Homme, Paul Smith, Wales Bonner, Hermes, Vetements, Jil Sander, Thom Browne and Celine. This will be followed up with Haute Couture Week running from January 25 to 27, with the provisional schedule opening with Schiaparelli, Iris Van Herpen, Christian Dior and Giambattista Valli on the Monday.  Tuesday starts with Chanel and features Stéphane Rolland, Alexandre Vauthier, Giorgio Armani Privé and Valentino. While the final day opens with Maison Margiela, followed by Elie Saab, Viktor and Rolf, Zuhair Murad, and concludes with Jean Paul Gaultier. All showcases will be featured on the Fédération de la Haute Couture et de la Mode’s online platform at www.fhcm.paris.  This follows the news earlier this month that Copenhagen Fashion Week is to go digital-only this February for its autumn/winter 2021 season due to the prolonged Covid-19 restrictions in Denmark. Copenhagen Fashion Week had hoped that it would be able to showcase a combination of physical and digital presentations from February 2-5, however, the Danish government strengthened its coronavirus restrictions.  Image: courtesy of Dior Homme - autumn/winter 2021 by Brett Lloyd
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Hugo Boss names Chris Hemsworth as global brand ambassador for Boss

Hugo Boss has tapped Marvel actor Chris Hemsworth as its first global brand ambassador for its Boss brand. Hemsworth, who has already collaborated with Hugo Boss as part of the group’s Boss Bottled scent since 2017, will become the international Boss face of the worldwide fashion campaigns planned for 2021 and 2022. The fashion group said in a statement that Hemsworth “epitomises a well-balanced lifestyle” and was the perfect global ambassador as it marked another step in its casualisation process of the Boss brand. Hugo Boss names first global brand ambassador By expanding the partnership with the actor, best known for his role as Thor in the Marvel films, the fashion group adds that it is “ensuring a globally consistent Boss brand image that will bridge various product groups” and it hopes that the generated synergies will also further enhance the brand’s appeal. The actor’s first campaign will begin in spring 2021, with Hemsworth’s lifestyle as a passionate surfer reflected in the direction of the new campaign. This will be followed up with a joint Boss capsule collection with a sustainability focus. Yves Müller, managing board spokesman at Hugo Boss AG, said in a statement: “We are proud that, in Chris, we have been able to secure a world-class star who is a perfect fit for our Boss brand. He embodies a contemporary take of success and masculinity. Chris perfectly exemplifies the modern man of today: self-confident, authentic and approachable. His global fame will further augment the Boss brand’s desirability going forward.” Commenting on his new global ambassador role, Hemsworth added: “I’ve been a huge Boss fan for a long time, so I’m really happy to now represent the brand’s collections as global ambassador. Our partnership over the past few years has been absolutely brilliant. I’m very excited to be working more closely with the Boss team.” Image: courtesy of Hugo Boss
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VF plans to move center of brand operations from Hong Kong to Shanghai

VF Corp. (VFC), a provider of branded lifestyle apparel, footwear and accessories, announced a transformation plan for its Asia Pacific operations, with relocations over the next 12 to 18 months with the first moves expected in April 2021. VF plans to move the center of its brand operations from Hong Kong to Shanghai where the company currently employs approximately 900 office and retail associates. In addition, VF also plans to relocate its Asia Product Supply Hub from Hong Kong to Singapore. The company also plans to establish an additional shared services center for the region in Kuala Lumpur, Malaysia. VF noted that Hong Kong will remain a key retail market for the company and its brands. "Today's announcement reinforces our commitment to invest in our business across the Asia Pacific region, while also supporting VF's overall transformation plan to become a more consumer-minded, retail-centric and hyper-digital enterprise" said Steve Rendle, VF's Chairman, President and Chief Executive Officer.(DPA)
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Indian sari pioneer Satya Paul dies at 78

Indian fashion designer Satya Paul, whose eponymous brand breathed life into the traditional sari, modernising the garment with funky prints, has died at 78, his family said. Born on February 2, 1942, he first made his mark in the world of fashion retail with the 1980 launch of L'Affaire, India's first sari boutique, before establishing his own label five years later. His pioneering designs blended Indian handloom techniques with a modern palette, producing saris adorned with polka dots, zebra prints and abstract motifs. He did not limit himself to saris however, expanding into accessories such as scarves and ties, and eventually creating a retail empire that spanned eight Indian cities and a thriving online business. Drawn to spiritual pursuits from an early age, Paul passed away at an ashram in the southern city of Coimbatore on Wednesday after suffering a stroke last month, his son Puneet Nanda said. "Those who have been with him at any point in life would recall him as one who showered his love without hesitation or any barriers," Nanda wrote on Facebook. "It is the greatest testament to him as he went joyously, without fear." He was unusual among Indian fashion houses for bringing a measure of corporate rigour and hiring well-known designers such as Masaba Gupta and Rajesh Pratap Singh to serve as creative directors for the brand. Gupta led the tributes to Paul, praising him for establishing a homegrown label "that will stand the test of time". "Fashion schools -- Please introduce young Indian design aspirants to this brand... We can be inspired by the story of Chanel etc but we must learn what happened on our soil first," she said. A favourite of Bollywood stars, Paul was also admired for his business acumen, with bio-pharma entrepreneur Kiran Mazumdar-Shaw hailing him as "an iconic designer who was a forerunner in the fashion world".(AFP)
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Asos to employ 2,000 people at new Staffordshire warehouse

Asos has announced plans to employ 2,000 people at a new 90 million pound fulfilment centre in Lichfield, Staffordshire, over the next three years. The 437,000 square foot warehouse, a joint venture between AEW and Allianz Real Estate, is based at Fradley Park and will be operational within 12 months, Asos said. The company will then gradually ramp up testing to meet the capacity required for peak trade in 2023. The fulfilment centre is situated on the A38 with good road and airport links, and will serve Asos’ growing number of customers in the UK and around the world. For the year ending 31 August, the business grew its active customer base to 23.4 million people. For the same period, Asos reported a 19 percent year-on-year growth in revenues to 3.26 billion pounds with profit before tax up more than 300 percent to 142.1 million pounds. Commenting on the new warehouse in a statement, CEO Nick Beighton said he was “thrilled to be laying down the foundations for our future growth in Lichfield”. He continued: “This significant investment in infrastructure and large-scale job creation is a reflection of the confidence Asos has in its future and the quality of the skills and talent available in this well-placed location. When fully up and running in 2023, the site will support our ever-increasing customer demand and enable us to develop our offerings and delivery capabilities even further.” Photo credit: Asos website
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Marks & Spencer Christmas sales slump, clothing hit by store closures

Marks & Spencer has reported a slump in sales for the typically busy Christmas period, driven by significant drops in its clothing and homeware departments. For the 13 Weeks to 26 December, group Q3 sales dropped 8.4 percent to 2.77 billion pounds. UK sales fell 8.2 percent, or 7.6 percent on a like-for-like basis, to 2.53 billion pounds, while international sales dropped 10.4 percent to 239 million pounds. Marks & Spencer clothing sales hurt by lockdowns Marks & Spencer’s clothing and home department was hit particularly hard, with revenue down 25.1 percent to 787 million pounds. But the company said there was “good progress in repositioning ranges and shape of buy was concealed by the continuing restrictions and demand distortions”. That 25.1 percent revenue decline reflected an in-store sales decline of 46.5 percent, partly offset by strong online sales growth of 47.5 percent. The sales mix remained heavily biased to Covid-influenced products such as sleepwear and leisurewear. The company also said that many blanket promotions were removed in the period, and the ratio of full-price sales improved with full-price sales declining a more modest 4.8 percent and online orders more than doubling. “As a result, the stock position as we entered the latest lockdown was strong,” the retailer said. CEO Steve Rowe described the retailer’s performance as “robust over the Christmas period” but warned of more tough times ahead. “Near term trading remains very challenging but we are continuing to accelerate change under our Never the Same Again programme to ensure the business emerges from the pandemic in very different shape,” he said. Photo credit: Marks & Spencer
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