A growing number of retailers have warned that the price of consumer goods will rise this year because of higher wage bills and transport and energy costs.
RETAIL
Next (UK) said full-price sales were 20% higher in the eight weeks to December 25 than in the same period in 2019 before the pandemic began.
- Better than expected sales of formalwear and clothes for special occasions boosted revenue.
- Estimated pre-tax profit is now at £822 million, more than 20% higher than previously forecast.
- Next warned that selling prices would rise by up to 6% because of higher freight rates and increased labour and materials costs.
Indochino (USA) made-to-measure menswear retailer has set a goal to surpass 100 retail locations in 2022, it currently has 79 stores. It also plans to launch its first women’s wear collection and “significantly” increase its share of the men’s wedding apparel market.
Beijing reported a total of 901 “first stores” were opened in Beijing in 2021, almost five times the amount of last year, according to data released yesterday by the Beijing Municipal Commerce Bureau.
Rihanna’s Savage X Fenty lingerie, which started as an online-only subscription brand focusing on body type inclusiveness, will be rolling out retail stores in the U.S. this year.
- In February 2021 the brand was valued at $1 billion
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"We expect a decline in retail sales from 2021 levels this year as many of the positive factors which drove sales last year will be absent," said Credit Suisse economist Tiziana Hunziker.
MARKETS
Germany’s Black Friday and Cyber Monday turnover in the internet and mail order sector was slightly down month-on-month in November. However, sales were “still well above the February 2020 level,” with an increase of more than 30 percent, said the Federal Statistical Office (Destatis).
U.S. e-commerce sales from Nov. 1 to Dec. 24 grew 11% year-on-year, after a year-on-year increase of 47.2% in the holiday season of 2020, according to Mastercard SpendingPulse.
Euro area November retail trade increased by 1.0%, with the EU up 0.9%, compared with October 2021, according to estimates from Eurostat, the statistical office of the European Union.
- Euro area annual inflation is expected to be 5.0% in December 2021, per Eurostat.
Swiss retail sales are set to drop 4.1% this year after pent-up demand during pandemic-hit 2021 dissipates and shoppers return to normal patterns of spending, Credit Suisse analysts said.
FINANCE
Bed Bath & Beyond (USA) reported a net loss of $276.4 million for Q3 (ended Nov. 27), compared to a loss of $75.4 million a year-ago period.
- Sales fell to $1.88 billion from $2.62 billion, missing estimates of $1.95 billion. Part of the decline was attributed to planned store closures.
Harvey Nichols (UK) has secured £66 million in funding after annual losses more than doubled as it grappled with Covid restrictions and a lack of tourism.
- The retailer recorded total sales of £121 million during the period from April – December, down from £222 million pre-pandemic.
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