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Wet June forces fashion retailers to slash prices

Fashion retailers are offering discounts of up to 75% as the wet summer weather continues.

Braving the weather: sales volumes rose across the fashion sector despite incessant rain

River Island, Topshop and Urban Outfitters are among those offering 70% to 75% off selected lines this week, while Debenhams had up to 60% off.

Fashion retailers have been struggling to attract shoppers over the past few weeks, despite launching summer Sales.

Around 86% of UK high street fashion retailers are now on Sale, retail analyst Richard Hyman reported: “This has crept up steadily from around 50% so we’re already in Black Friday territory.

“These discounts are deeper and more widespread than we’d typically see at this time of year. What is already a weak market is now going to be a lot weaker.

“People are cutting prices and lowering margin, but are they going to make up in volume what they lose on margin? I doubt it.”

The fall in fashion sales drove retail sales down by 0.5% year on year in June, this week’s British Retail Consortium and KPMG Retail Sales Monitor showed.

“With May sunshine a distant memory, summer wardrobes remained bare as sales of women’s fashion and footwear plummeted following one of the wettest and dullest starts to a UK summer since records began,” said David McCorquodale, head of retail at KPMG

 

Readers' comments (1)

  • The U.K has increasingly inconsistent weather, especially in the summer months, so this is nothing new. The weather cannot be blamed.

    The problem here is largely down to the buyers. They have overbought as per usual, particularly in too many summer items for a country that has poor summers. This happens time and time again and will no doubt be promoted because of their incompetence at their respective employers.

    If retailers are badly managed, with ridiculously optimistic forecasts and buyers who cannot see beyond the boardroom, then this scenario will happen time and time again, with excuses that make Network Rail look plausible.

    They has been plenty of money about this June for the retailers that have got it right.

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