An ad by Japanese clothing brand Uniqlo has stirred a consumer backlash in South Korea amid accusations that it mocks victims of wartime forced labour and brothel workers, reopening wounds from Japan’s colonial past.
With UK inflation at around 2%, a study predicting just a 0.8% increase in Christmas spend this year is bad news for stores. And it could be worse under a no-deal Brexit as the prediction would be scaled back to 0.2%.
The Canadian owner of Saks Fifth Avenue announced on Monday that, following an extensive review progress, it has entered into a definitive agreement with a group of shareholders to take the company private.
Inditex’s Zara has seen its UK profits falling even though sales there have continued to rise. Full-year 2018/19 sales rose around 10% to £772.5m, but profits were halved as selling and distribution costs rose 7%.
Last week’s Brexit deal and the pulling of Saturday’s Parliamentary vote have left the UK retail sector back where it has been for the last three+ years, facing an uncertain future as consumers shun unnecessary spending.
H&M is expanding its focus on making fashion greener and revealed on Thursday that it has been collaborating with Ikea on a large-scale study, reviewing chemical content in post-consumer textile recycling.