Shoppers may not be in the mood for lavish spending at the moment, but the retail sector is being “propped up” by spending on the part of international tourists. And luxury fashion is a key beneficiary of this.
German sportswear company Adidas reported disappointing second-quarter sales on Thursday but expects a recovery in the second half after it stemmed a decline in Europe and saw its long-struggling Reebok brand recover.
The French sportswear brand owned by Airesis recorded a 1.3% increase in sales in the first six months of the year, and is forecasting a revenue of approximately €135 million for the full 2019 financial year.
Sales at UK retailers rose in the 12 months to June. Good news? Perhaps not. It was the slowest average pace on record and way below inflation as Brexit concerns continued to keep UK consumers cautious, the BRC said.
It was a tough month for womenswear, menswear and footwear in May as UK online retail sales for all categories went into reverse, the comparable figures having been skewed by the mini boom of a year ago.