Inditex sales may have risen only 2% in Q1 but it was still a record quarter and without currency exchange effects it would have powered ahead by 7% as both online and stores expansion again proved a winning formula.
New Look has admitted last year was very difficult as it revealed bleak trading results amid external and “self-inflicted” issues. However, it said its turnaround plan is on track to deliver stability for the new year.
Shop Direct continued to make strides as the UK’s second largest online retailer in the third quarter, however regulatory costs linked to PPI claims has pushed the parent company of Very.co.uk into the red.
The massive store has five customer “recharge” seating areas, free Wi-Fi and 54 fitting rooms. It is being built on Primark’s new shop fit with immersive tech elements including two LED shop-front video windows.
In another blow to the UK high street, Marks & Spencer has proposed more closures as part of its transformation strategy. Bayswater, Darlington, East Kilbride, Falkirk and Kettering will be amongst the towns affected.
The royal wedding underlines the economic potential of a sector that needs to embrace digital technologies and look for new markets and formats to face a fragmented landscape where millennials will reign supreme.