
Retailer John Lewis JLP.UL reported on Friday an 8.3 percent drop in weekly sales at its department stores, saying the turmoil in financial markets and good weather conspired to keep customers away.
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Retailer John Lewis JLP.UL reported on Friday an 8.3 percent drop in weekly sales at its department stores, saying the turmoil in financial markets and good weather conspired to keep customers away.
Marks & Spencer is reining in investment, slashing costs and stepping up promotions amid signs of mounting pressure on consumers as banks tighten lending and house prices fall at the fastest rate for 17 years.
Clothing retailers, facing sharp cost increases, are planning a gamble that could backfire by raising prices next year in what could be one of the worst consumer downturns in 30 years.
Marks & Spencer will open its first store in mainland China on Oct. 2, the same day as a keenly-awaited trading update, in the latest move by an international retailer into the world's most populous country.
Fashion retailer Next is expected to report a 14 percent fall in first-half profit on Wednesday, starkly illustrating how deteriorating economic conditions have deterred shoppers from spending.
Department stores group John Lewis announced its biggest ever fashion advertising campaign on Saturday, stepping up competition in a market suffering from weaker consumer spending and a wet summer.
Esprit , the world's No.5 fashion retailer, lagged forecasts with a 12.5 percent rise in second-half profit, as waning consumer sentiment in its core European market offset a strong euro and sales growth elsewhere.
Shares in Esprit Holdings, the world's No. 5 fashion retailer, plunged nearly a fifth on Thursday to their lowest in two years after the firm missed earnings forecasts and warned investors of tougher times ahead.
Esprit , the world's No.5 fashion retailer, lagged forecasts with a 12.5 percent rise in second-half profit, as waning consumer sentiment in its core European market offset a strong euro and sales growth elsewhere.
Clothing retailer Next posted a 6 percent fall in first-half underlying sales, in line with forecasts, and said it expected a similar decline in the second half amid a worsening economy.