H&M’s first half and Q2 were all about its ongoing recovery as the retail giant benefited from “increased full-price sales and lower markdowns”. But there remain challenges and comparison periods are getting tougher.
The Scottish textiles industry is being funded by a £2 million injection to help “reduce its environmental burden”. Zero Waste Scotland and the Scottish government have launched their ‘Circular Textiles Fund’.
The British economy could be in line for a “painful inflation spiral”, the Bank of England’s chief economist Huw Pill has warned. He points to a shortage of workers and businesses’ willingness to pass on higher costs.
It looks like Cath Kidston could be up for sale just two years after the company's pandemic-linked collapse saw it retreating from much of its physical retail chain and cutting close to a thousand jobs.
UK consumer confidence fell to a record low in June as shoppers grappled with a stark new economic reality, figures from Gfk’s long-running series of reports show. Its confidence Index dipped one point to -41.
The first monthly retail sales report for June is out and it doesn’t look good. The Confederation of British Industry has released its regular report and said retail sales volumes fell slightly in the year to June.
Easy payments financier Klarna has launched a loyalty card feature on its app. It will allow users to store and access their physical loyalty cards as a digital version “removing the need to carry plastic equivalents".
E-tail giant Boohoo Group has named Shaun McCabe as its new CFO to succeed Neil Catto whose role will transition to an Executive Director, remaining on the board, “with responsibility for strategic projects”.
Loro Piana has announced the winners of the sixth edition of its international Knit Design Award competition. The winners were students Po-Chieh Chiu and Shanon Poupard from the Institut Français de la Mode, Paris.
Britain is becoming a more closed economy due to Brexit, with bad long-term implications for productivity and wages to leave the average worker £470 a year poorer by the end of the decade, a study said on Wednesday.