This Week
- European fast fashion brands report sales increases for June through August, with Primark raising prices 7%.
- John Lewis continues to struggle, but said apparel sales strengthened during the first half of the year.
- This week’s economic data showed a more positive outlook in key markets with inflation cooling, but energy prices remain a threat.
Millennials and Gen Zers are poised to confront growing budgetary pressures this fall.
Factors like the resumption of student loan payments and rising interest rates on credit card debt, could potentially reverse the positive momentum discretionary services spending gained over the summer, per Morning Consult research.
FINANCE
H&M (Sweden) said sales for Q3 increased 6% US$54.4 billion.
Inditex (Spain) reported H1 sales rose 13.5% to $18.1 billion, while profits rose 39% to $3.5 billion in the first six months of 2023.
Primark (UK) indicated that sales for 2023 were on track to be 15% higher than last year. Like-for-like sales at Primark increased by 7% in the past three months. Primark raised prices 7% this summer with more prices set for this autumn and winter.
- Primark’s like-for-like sales rose by 9% across all countries to £9 billion ($11 billion) in the year to 16 September.
The John Lewis Partnership (UK) reported a pre-tax loss of £59 million ($73 million) for the first half of the year, an improvement from a £99 million loss a year ago. John Lewis sales fell by 2%, however apparel sales increased. Operating profit fell 6%.
Birkenstock is preparing to go public on the New York Stock Exchange in a move that could value the firm at $5.9 billion to $7.9 billion. The German brand is majority owned by L Catterton, the private equity arm of LVMH.
PODCAST
Building Customer Connection in a Crowded Market
Marketing and B2B businesses are not typically seen as companions.
However in a challenging market, companies selling products and services to other businesses need a lot more to stand out in the market if they hope to survive let alone grow their business.
In this episode Matt Bell, a specialist in B2B marketing and co-founder of MessageUp talks about how companies can get better visibility – even with scarce resources.
You’ll Learn
- How B2B companies can maximize their impact when they have limited resources.
- How companies can leverage thought leadership and brand content.
- Best practices for optimizing the buying experience for digital-first B2B customers.
TRENDING NOW
She’s a Gem
In a sea of similar products, how can a brand stand out from the competition?
Adding a bit of sparkle and shine can instantly catch the customer’s eye. People are attracted to ‘shiny objects’ and want to buy them.
This is why designer brands through to mass market continue to add a touch of sparkle to their collections. Get the trend
RETAIL & BRANDS
Why Mango is Beating Other Fast Fashion Brands
A focus on better quality and more timeless design is appealing to an underserved market that has spending power.
In this brand analysis we break down why Mango is winning, including what consumers are saying about the brand – in their own words. Read more
MARKETS
- US Treasury Secretary Janet Yellen said she is “feeling very good” that the nation’s economy won’t enter a recession as inflation recedes, per Bloomberg.
- The ECB said that if current rates are “maintained for a sufficiently long duration” they will bring inflation to target levels.
- Analysts, however, have not ruled out further rate adjustments.
US retail sales accelerated at above consensus pace of 0.6% in August, mainly on rising gasoline prices, per US Census Bureau data.
- Excluding gas, sales rose 0.2% over the month, the slowest growth since March.
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