Retailers had been expecting a steady shift towards online shopping for some time, but the impact of the pandemic changed retail fast and the UK saw the equivalent of five years of e-tail sales growth in only a year.
UK shoe giant Clarks has filed its results for its year to February 2020 and the figures show just how much it was struggling even before the pandemic forced its stores to close and sent footwear demand plummeting.
Opening Ceremony may have closed down its destination boutique in Soho last spring, but the brand is very much alive and kicking, as the latest collection from its founders – Carol Lim and Humberto Leon - trumpets.
The French online event sales group has reportedly generated a revenue of nearly €700 million in 2020, well up from the €616 million reached in 2019, notably thanks to Q4 results that exceeded expectations.
Manchester-based Boohoo Group is seeking to expand its office presence in London following recent acquisitions of the online business of London-based Debenhams and Arcadia labels Dorothy Perkins, Wallis and Burton.
If customers can’t come to the store, why not dial up the online performance? That’s what Tommy Hilfiger’s flagship Regent Street, London, store has done with the introduction of a virtual shopping service.
Physical shops may be closed, but 52% of UK retailers are offering products specifically for Valentine’s Day. And 41% are expecting the event to give them a sales boost with average expectations of a 26% increase.
The American lifestyle group reported net sales of $1.09 billion in the fourth quarter on Tuesday, representing a year-over-year decline of 6.9% which was largely due to reduced store traffic and occupancy restrictions.
There can be few retail upsides to lockdown but one has emerged: local independent businesses saw an upswing in shopper demand last year. More specifically, clothing stores and beauty salons both ranked in the top 10.