
The disappearance of Gap from UK high streets may have been one of the most headline-grabbing effects of the pandemic, but it's soon to make a comeback to physical retail in Britain, albeit in a slightly different form.
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The disappearance of Gap from UK high streets may have been one of the most headline-grabbing effects of the pandemic, but it's soon to make a comeback to physical retail in Britain, albeit in a slightly different form.
There was mixed news from In The Style on Wednesday. Although the womens fashion e-tailer said it had performed strongly in the ‘golden quarter’, it also revealed its CFO/COO Paul Masters is leaving due to ill health.
Next continued to show just how strong it has been in recent periods on Thursday as the retailer increased its guidance due to sales dipping only slightly in the latest quarter.
Fast-growing retail giant Next is believed to be talking to a major US investment firm about a joint bid for failed group Arcadia and would want to keep a big chunk of its stores open.
Retailers selling fashion online are emerging as the winners of the coronavirus crisis as consumers are staying home even as stores start to reopen, results from major companies showed on Thursday.
Zalando confirmed its Q1 results late on Wednesday and also said it “expects to grow its business at double-digit rates [this year] in a fashion market that is expected to show significant negative growth”.
Next was cautiously upbeat on Thursday as it reported half-year results and, significantly, its online sales overtook those from its stores by quite a wide margin.
Many retail chains may be moving into the bridal sector at the moment as they offer more affordable and on-trend wedding fashion, but Gap Inc is actually backing out of the market.
H&M is raising the stakes in the ultra-competitive affordable bridalwear category with the launch of a new collection this week that has a strong focus on low prices.
Next has been facing tough times and its annual results on Friday illustrated that very clearly. It expects those tough times to continue but total sales for the current financial year are predicted to rise 1%.