The Hong Kong-based apparel, footwear and brand management company announced on Thursday that it has made significant progress in reducing its net loss as it continues to push forward with aggressive restructuring.
Asda, the British supermarket arm of the world’s biggest retailer Walmart, blamed lower sales in its latest quarter on Brexit uncertainty, saying it had negatively affected consumers’ spending patterns.
UK fashion retailers see Brexit as a huge challenge for their businesses in the year ahead and almost half of small and medium-sized firms (SMEs) feel unprepared for whatever the outcome of the Brexit process will be.
In the same week as Mothercare threw in the towel with its UK stores, rival mother and baby products chain Mamas & Papas has opted for a pre-pack administration with its existing owner back in control.
There was further confirmation of the bleak state of UK retail on Monday as specialist footfall tracker Springboard released visitor traffic figures for October. And what did they show? Unsurprisingly, another decline.
Clarks is continuing to struggle with the company’s 2018/19 results release showing that UK and Irish sales fell by as much as £36.7m to £561.1m in the year to February, while Europe and US shop sales were also weak.