Hong Kong retailers said on Tuesday they expect sales for July and August to drop by double-digits from a year earlier due to large and sometimes violent protests that have gripped the city for more than a month.
Value fashion retailer Bonmarché’s attempts to rebuff a full takeover by majority shareholder Philip Day have failed with the company announcing continued weak trading and a change of mind on recommending his offer.
African retailer Steinhoff on Tuesday reported a 1.2 billion euro (£1.07 billion) loss for the 2018 fiscal year, in a much-delayed earnings report revealing the impact of an accounting fraud put at $7.27 billion.
The U.S. internet advertising industry is projected to hit $160 billion by 2023 from $107 billion last year, led by fast-growing categories like mobile video with Google and Facebook firmly controlling the market.
The fashion retail sector is already reeling from the impact of the shift online and Brexit, so a new PwC report showing that all consumers, but especially the young, will cut their fashion spend is a fresh blow.