Crisis news and archive

UK retail sales show modest growth amid summer spending

Retail sales in the UK saw a slight uptick in August, driven by summer-related purchases, according to the latest BRC-KPMG Retail Sales Monitor. Total retail sales increased by 1 percent year-on-year, outpacing the three-month average growth of 0.4% but falling short of the 12-month average of 1.2 percent. Non-food sales, which includes fashion,...

Fashion

Crisis partners with UKFT on recycling scheme

British homelessness charity Crisis is collaborating with the UK Fashion and Textile Association (UKFT) to trial a new approach to recycling in a bid to reduce clothing waste. The recycling trial forms part of the ACT project led by UKFT and is currently taking place in the charity's Peckham and Elephant & Castle stores in London until...

BusinessPress Release

VMI as the most profitable cooperating strategy for fashion brands with multibrand retailers - during and after the crisis

With Covid-19, we live in bizarre times. With overall store closings in more and more countries which is being followed at individual retailer level here in the Netherlands. With media headlines for non-food retail like ‘Full season falls away’ and 'Corona virus costs the luxury sector to 40 billion euros in 2020’. Of course everyone's health...

Retail

Primark profits under pressure due to weak pound and high inflation

Primark has seen an increase in foot traffic as its store visits returned to pre-pandemic levels, resulting in a 19 percent sales boost. However, despite this growth, the company's profits are under pressure due to a weak sterling and high inflation. Shares of Primark's parent company, AB Foods, fell 3.6 percent on Tuesday as shoppers prioritise...

Retail

UK footfall dropped in March as consumers face cost of living crisis

March delivered a sharp shock to UK retail destinations with a decline in footfall of -2.8 percent, according to data from Springboard. Where February saw an increase that bettered the same month in other years post pandemic, what came to pass was the first month on month decline in footfall in March since MRI Springboard started publishing its...

Fashion Featured

LFW: GFF, Crisis & Love Not Landfill partner on emerging designer upcycling range

UK non-profit organisation the Graduate Fashion Foundation (GFF) has teamed up with the charity for homelessness Crisis, and ReLondon’s non-profit campaign Love Not Landfill to showcase and sell a range of 15 upcycled looks for LFW AW23. Students from a range of GFF member universities across the UK created 28 handcrafted outfits. They were...

BusinessPress Release

EU Energy Council: EURATEX welcomes progress on the energy market reform

On Monday, the European energy ministers reached an agreement on a price cap for natural gas wholesale prices. Despite welcoming the adoption of the instrument and the prospect to limit gas price speculations on the stock market, EURATEX considers the cap at 180 €/MWh to be still too high. Also, the complexity of the conditionalities triggering...

BusinessPress Release

The EU Textiles industry is highly concerned about the potential loss of competitiveness by the EU’s inaction of the energy crisis

Following yesterday’s European Council summit and its conclusions on the measures to tackle the energy crisis, the European textiles industry is extremely concerned about the fast loss of competitiveness of Europe and demands urgent action to save the industry. The chain of factors determining this sharp decline in our competitiveness is...

BusinessPress Release

The European Commission proposes a price cap on wholesale gas at 275€/MWh that is disappointing for European textiles and clothing manufacturers

On Tuesday, EURATEX stated in a letter to EC President, Ursula von der Leyen, that any price cap above the level of 80€euro/MWh would not help the EU industry – the textile sector in particular – to survive the current crisis. Indeed as early as July 2021, the wholesale gas price in the EU was below 30€/MWh. Now, the EU industry is facing gas...

Retail

In the run-up to Christmas, cautious consumers are keeping footfall below expectations

As the UK awaits the Government’s Autumn Budget update on Thursday, the expected tax rises and spending cuts are keeping shoppers at bay. New data released by retail experts Springboard, show footfall rose by just 1.3 percent across UK retail destinations last week, despite the run-up to Christmas expected to improve trading conditions. Footfall...

RetailFeatured

Covid scars had deeper impact on UK retail than expected

The negative impact of the Covid-19 on the retail industry may have been underestimated, according to new official data. Findings from the UK’s Office for National Statistics (ONS) released on Monday indicate a shrunken economy and ongoing suffering in post-pandemic daily life for many individuals. The ONS said the revised estimates of GDP still...

RetailFeatured

Rise in living costs to cut into Christmas spending

The run-up to the holiday season is well underway, with retailers predicting a lacklustre Christmas as soaring inflation digs into consumer purse strings. While the end of the year is meant to be a bonanza for retailers and brands, companies from Adidas to Asos are cuttings their forecasts, with H&M responding to the current crisis by launching...