Topshop owner Arcadia has given its suppliers notice that it expects a 2% discount on orders, citing the tough retail environment and higher costs, and leading analysts to question how weak current trading might be.
Sales and profit at Arcadia fell last year according to press reports, with the retail giant seeing the same squeeze as many peers. Reports also suggest it is seeking a new strategy to battle pureplay e-tailers.
India’s leading fashion e-commerce platform Myntra will participate in parent firm Flipkart's upcoming Big 10 sale to be held from May 14-18 and is expecting to do 30% of its monthly sales during this period.
Topshop’s owner has denied the UK fast fashion chain had a weak Christmas as has been claimed. A newspaper report said Arcadia’s star brand saw a double-digit comp sales fall, but its owner said “the numbers are wrong.”
Fresh from reporting overall sales up more than 20% globally in Q4, e-tail giant Amazon’s European fashion unit said it sold more than 60m items during the quarter and is only at the start of its fashion journey.