×
6 659
Fashion Jobs
LA MER
Executive Director, Global Ecommerce, la Mer Online
Permanent · New York
L.L.BEAN INC.
cs Performance Support Consultant And Analyst
Permanent · Portland
NORDSTROM INC
Data Analyst 2 - Finance Data & Reporting
Permanent · Washington
COTY
Logistics Manager
Permanent · Cockeysville
L BRANDS
Procurement Buyer - Information Technology
Permanent · Columbus
NORDSTROM INC
Business Intelligence Analyst - Merchandise Operations
Permanent · Seattle
NORDSTROM INC
District Loss Prevention Manager, ny
Permanent · New York
L BRANDS
Asset Protection Officer, Morse rd (2nd Shift 3pm - 11pm)
Permanent · Columbus
BATH & BODY WORKS
sr. Manager, Carrier Strategy
Permanent · Columbus
L BRANDS
Asset Protection Officer, Morse Crossing - 3rd Shift (11pm-7am)
Permanent · Columbus
VICTORIA'S SECRET
Brand Operations Manager-Coconut Point
Permanent · Estero
BATH & BODY WORKS
District Manager - Bath & Body Works - North Austin - Austin, tx
Permanent · Waco
VICTORIA'S SECRET
Brand Operations Manager-Valley West
Permanent · West Des Moines
L BRANDS
Asset Protection Officer, Broad st -1st Shift 7am-3pm
Permanent · Reynoldsburg
L BRANDS
Asset Protection Officer, New York City
Permanent · New York
BATH & BODY WORKS
Senior HR Generalist - Home Office
Permanent · Reynoldsburg
VICTORIA'S SECRET
Brand Operations Manager-White Marsh
Permanent · Baltimore
VICTORIA'S SECRET
Asset Protection Investigator, Victoria's Secret (Southland Mall - Hayward, ca)
Permanent · Sacramento
PINK
Brand Operations Manager-Solano
Permanent · Fairfield
VICTORIA'S SECRET
Product Owner
Permanent · Reynoldsburg
ESTÉE LAUDER COMPANIES
Manager, Creative Operations, Creative Content Hub, North America
Permanent · New York
ESTÉE LAUDER
Director, Ecommerce, North America - dr.Jart+
Permanent · New York
Published
Apr 12, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Fashion stores closed faster than ever in UK last year says LDC/PwC report

Published
Apr 12, 2017

Its a story we’ve heard many times before but the latest store closure data for the UK illustrates it perfectly: consumers are moving their fashion spend online and more of their discretionary spend is going towards leisure activities.


Store closures were "relatively benign" last year but fashion suffered disproportionately



The new figures, from PricewaterhouseCoopers (PwC) and Local Data Company (LDC), showed fashion retail losing out big time last year as more stores than ever closed.

In fact, closures outpaced store openings in 2016 for the seventh year running as ‘chain stores’ (that is, those with five branches or more) closed down to the tune of 5,430 units, compared to 4,534 opening. That left a gap of almost 900 stores which was nearly double the closure gap in 2015.

And fashion locations and department stores were two of the worst-performing categories on the closure front.

PwC and LDC also said that as closures happen, the face of UK high streets is evolving with the fastest growth being seen for health clubs, vaping shops, coffee shops, and fast food locations. The only good news for fashion was that jewellery stores were also among the fastest growing physical outlets last year.

With fashion stores closing faster than most others, the difference between closures and openings last year resulted in a net fall of 320 stores. That came as 120 Austin Reed locations were shuttered and 77 Store Twenty One units closed their doors for the last time. The big department stores decline was largely caused by the BHS failure that saw 132 stores closing their doors.

PwC’s Mike Jervis highlighted the "changing face of town centres" as leisure/experience come to the fore and as fashion migrates to online “at a faster rate than ever, leaving closures in its wake.”

He added: “The insatiable appetite for fast food and coffee shops fills the void left by banks, mobile phone and clothing shops.”

Interestingly he also added that last year had been “relatively benign for restructuring and insolvency in all sub-sectors of retail, so the net closures point to structural changes in customer behaviour more so than a consumer slowdown.”

However, this is unlikely to continue into 2017. While data shows the closure situation also being relatively benign so far this year, future closures for Brantano, Jones Bootmaker, Agent Provocateur and Jaeger could mean a sharp shift in the months ahead.

Copyright © 2021 FashionNetwork.com All rights reserved.