Global shopping centre landlord Westfield said that fashion stores at its flagship malls experienced a 2% decrease in sales over the first quarter of the year, and a 7.6% slump at its regional centres.
H&M is well known for giving little away in its sales results announcements. And so it was on Monday as the Swedish fashion giant said group sales rose 7% in local currencies in April compared to April 2016.
Missguided said Thursday that it has “once again achieved spectacular growth” with revenues increasing 75% to £206m. And international sales grew even more, up over 130% and accounting for over 40% of the total.
The big news may be all about store closures, but with omnichannel being key, store openings are also making waves and fashion brands have led the way in moving from pureplay to omnichannel retail, a new report says.
Furla is to buy back its Australian and New Zealand distribution from Luxury Retail Group after saying it has seen significant sales growth in the countries and that the new deal shows its “strong faith" in the market.
Fast-expanding UK fashion retailer Missguided is looking for new investors with a cash injection to help it continue its expansion plans, according to reports. It may also opt for an IPO, joining peers Asos and Boohoo.
High-end US footwear specialist Cole Haan is launching into the UK this week via tie-ups with department stores Liberty and Selfridges with the brand saying this “signals the start of a wave of UK activity".
Tous said its expansion strategy and the continued development of the e-commerce platform sent sales soaring by almost 10% in 2016. The company will continue opening retail and travel retail stores this year.