Free-spending tourists in Europe are expected to drive brisk second quarter sales at French luxury groups LVMH, Gucci-owner Kering and Hermes, helping to offset the impact of disruptions in China from Covid restrictions.
Can UK consumer confidence get any worse? Not at the moment, it seems, as the long-running GfK Index took a breather this month, remaining flat with at a reading of -41. But for “flat” read still “severely depressed”.
With Frasers Group riding high on “robust trading” after a “record-breaking year” don’t expect the business to rest on its laurels.The Flannels and Sports Direct owner wants to buy more businesses and open more stores.
It's no surprise that the heatwave in recent days deterred UK consumers from shopping in physical locations, but they clearly felt too hot to shop overall as they also cut back on their online purchases.
It had to happen at some point. Despite overall sluggish retail sales, clothing has been relatively strong this year. But the latest official UK figures showed that June was a weak month for the fashion sector.
JD Sports Fashion had some good news on Friday as it released a short trading update head of its annual general meeting with total sales in the group's like-for-like businesses 5% ahead of the prior year
LVMH chief Bernard Arnault has changed the legal structure of his family holding company Agache to a joint-stock partnership to ensure family control over LVMH in the long term, the company said on Thursday.