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Tommy Hilfiger European retail sales soar

Tommy Hilfiger has revealed that global sales increased by 3.5% to EUR772m (£697.9m) in the six months to September 30.

In Europe retail sales rose 24.4% with like-for-likes up 2.5%. However, European growth was offset by a slowdown in wholesale sales resulting in an overall sales decrease in Europe of 6.4%.

 
 
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Levi’s posts third quarter profit slide

Levi Strauss & Co reported a 41.2% drop in net profit to $40.7m (£25.5m) for the three months to August 30.

Revenue fell 6.3% to $1.04bn (£652m) from $1.11bn (£689m) and sales declined 6.1% to $1.02bn (£64m) from $1.09bn (£684m).

 

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End of recession in sight, say young fashion buyers

Young fashion buyers are predicting the retail sector will come out of recession next year, but said they would approach the spring 10 season, which kicks off at Bread & Butter (B&B) next month, with caution.

Of the young fashion indies surveyed by Drapers, 73% said spring 10 trading would be better than spring 09. However 54% said they would hold buying budgets at existing levels until they were more certain of the future. Of the 30 indies polled, 60% said they did not plan to attend B&B, which has relocated from Barcelona to Berlin this season.

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