Week in Review

October 16, 2022

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Week in Review | Oct. 16, 2022

Holiday spending increases are more likely to be due to inflation than to increased purchases.

FINANCE

‘Management remains confident that the product proposition and commitment to providing glamorous looks at value prices will continue to appeal.’ – A Quiz (UK) spokesperson told investors.

Fast Retailing (Japan) said full year revenue rose 7.9% to ¥2.3 trillion ($15.5 billion), while profits rose 19.4% to ¥29 billion ($200 million).

Growth in international markets helped offset a decline in China. Notably, operating profit margin for North America was just under 10%, and operations moved into the black.
The group expects fiscal year revenues to increase by at least 15%, but said that income will likely fall due to inflation.

LVMH (France) said Q3 sales rose 19% year-on-year to $19.2 billion. Sales for the first 9 months of the year rose 28% to $55.3 billion.

The group warned of an ‘uncertain outlook’, but is confident sales will grow at a similar rate for the rest of the year.

Quiz (UK) reported that sales rose by 37.2% to £49.4 million ($55.3 million) for the six months to September. The brand specializes in dressy and occasion wear.

MySale (Australia) is set to be acquired by Frasers Group (UK) after it performed a U-turn to back its £19 million ($20.2 million) takeover bid.

What executives are saying, market insights, financial performance – all in our INSIDE FINANCE October report. Read more

FASHION RETAIL

3 Key Strategies that Have Made Uniqlo a Retail Winner

Having a long term vision and a commitment to product quality has put Uniqlo in a profitable position. The brand has steadily expanded into a growing number of international markets. And is reporting revenue and profit growth at a time when many others are struggling.

Behind its success are three key strategies that give Uniqlo a competitive advantage. READ MORE

PODCAST

A Playbook for Leading People to Achieve Accelerated Results

Many senior executives face the dual challenge of keeping themselves focused as the market becomes increasingly complex, as well as supporting their teams so that they can deliver their best performance.

If you ever wished you had a playbook for how to handle some of these unexpected challenges, then you’ll be happy to learn that there is one.

In this podcast Andrew Bryant, author of “Enter The New Leadership Playbook” talks about how to lead teams to achieve faster and better results.

You’ll Learn:

The 7 principles of the leadership playbook.
Why job satisfaction and quality of life can be enhanced significantly by drawing talent.
How leaders can articulate what is required of an employee in a way that they can meet the objective.

🎧 Listen to the podcast

RETAIL

Forever 21 (USA) plans to open 14 new stores in 2023.

Nike (USA) has said it could cancel orders placed with automated ordering software or technology on its website or apps, per the Wall Street Journal. The objective is to stop buyers who purchase with intent to resell.

Orders that exceed product purchase limits could be rejected, according to the revised rules posted on Nike’s website.

US retailers are forecasting declining imports through the end of the year even though holiday merchandise sales are expected to be strong, per the Journal of Commerce.

Neiman Marcus Group (USA) said that 2% of its customers account for 40% of its sales.

Neiman Marcus delivered over $5 billion in gross merchandise value for fiscal 2022.
Meaningful gross margin expansion was supported by 80% full price selling, the group said in a statement.

What executives are saying, market insights, financial performance – all in our FASHION RETAIL October report. Read more

MARKETS

US September retail sales (excluding gas and auto sales) rose 7.9% year-on-year. Apparel sales were up 8.9% year-on-year, per Mastercard Spending Pulse. Department store sales were up 7.3%.