November 10 2024
If early reactions to Donald Trump’s election win are anything to go by, then retailers could have a bumper Holiday season this year. It would be an unexpected, but much welcomed, Christmas gift that could boost fourth quarter performance.
Initial market reaction to the US presidential election has been positive, with expectations of near term gains, per the Michigan Consumer Sentiment Index.
US business expectations hit their highest marks in four years, while consumer expectations were at their highest point since July 2021, the Index showed.
However while inflation is expected to fall in the year ahead, longer term expectations are that it will inch up to 3.1%, a 0.1% increase over previous survey results.
“The current reading is the lowest since December 2020 and sits within the 2.3-3.0 percent range seen in the two years prior to the pandemic,” said Surveys of Consumers Director Joanne Hsu.
Confident consumers are more likely to spend. And that, along with the momentum of the holiday season, could be a big win for retail.
FINANCE
Marks & Spencer (UK) reported H1 pre-tax profit rose 17% to £408 million ($526 million). Sales of clothing and homewares rose 4.7% during the period.
Tapestry (USA) reported Q1 2025 net sales were flat at $1.5 billion. Operating income fell 0.4% from a year ago.
Under Armour (USA) reported Q2 2025 revenue fell 10.7% to $1.4 billion. Operating income rose 24%.
Primark (UK) reported full year revenues rose 6% to £9.4 billion ($12 billion). Operating profits were up 51% to £1.1billion ($1.4 billion).
Moncler (Milan) reported Q3 revenue fell 3% to €635.5 million ($686 million).
HanesBrands (USA) reported Q3 net sales decreased 2.5% to $937 million. Operating Profit increased 27% to $103 million.
Richemont (Switzerland) reported H1 sales fell 1% to €10.1 billion ($10.8 billion). Operating profit fell 17% to €2.2 billion ($2.4 billion).
This month Prof. Calvin Wong, CEO of AidLab, talks about how AI could impact the apparel and textile industry. He shares some of the models his lab is working on that have practical application for industry.
Find out AI will help make the industry more resilient – and become an important tool that supports people, instead of replacing them. Read more
PODCAST
In a tight labor market one of the biggest challenges companies face is retaining employees.
One of the keys to that is creating a workplace where people want to work.
What can today’s leadership do to reduce turnover and create a work environment that supports people – and productivity?
In this episode, Ralf Specht, creator of the “Soul System”, author of “Building Corporate Soul: Powering Culture & Success with the Soul System” and a founding partner of Spark44 discusses how organizations can do this.
You’ll Learn:
– How companies can build stronger relationships with their teams and reduce employee turnover.
– Why it’s possible to have a workplace environment that’s both competitive and supportive.
– How to build a company that has a ‘soul’.
GROWTH MARKETS
As Asian consumers become more interested in active sports, brands have taken notice.
China’s domestic market has seen a surge in sports participation, ignited by the 2008 Beijing Olympics and fueled by a growing number of Chinese gold medals in sports like tennis, swimming, running, speed skating and other sports. This has continued to drive demand for sports apparel.
The Southeast Asian sportswear market also is experiencing rapid growth, particularly in e-commerce, with international and Chinese brands leveraging regional platforms like Shopee and Lazada to reach consumers here. Read more
MARKETS
The Bank of England cut interest rates for the second time this year by 0.25 percentage points to 4.75%.
The Federal Reserve cut interest rates by 0.25 percentage points to a range of 4.5% to 4.75%, its lowest since February 2023.
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