Fashion retail sales rebound as shoppers invest in post-lockdown outfits



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Fashion retail sales soared last month as the sector, which has struggled during the coronavirus pandemic, was buoyed by shoppers investing in post-lockdown outfits.

Total like-for-like fashion sales jumped 57.5 per cent in March – from a base of minus 25.9 per cent in the same month last year.

Read more: Asos bags record profit as pandemic continues to drive sales

This marks the first positive result for fashion since before the pandemic hit the UK, buoyed by three weeks of growth in March.

Lifestyle sales also rose last month, jumping 14.7 per cent and

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Up to 10,000 retail stores could close this year due to coronavirus pandemic

As many as 10,000 U.S. storefronts could disappear by the end of 2021, as consumers increasingly favor the convenience and safety of shopping online during the COVID-19 pandemic, according to a new report.

That would mark a 14% jump in retail industry closures from last year, when a record number of major vendors closed more than 8,700 stores, according to a forecast from Coresight Research, which tracks the sector.

Businesses that sell apparel accounted for the most store closures in 2020. More than 3,000 clothing, footwear and accessories stores were shuttered since the start of the pandemic last

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Fashion vs. the Economy: Retail Faces Double Dip

Click here to read the full article.

The economic roller coaster isn’t over — and fashion can just hold on as tight as possible.

As horrible as the first phase of the coronavirus crisis was, it was relatively straightforward (and straight down). Almost everybody was forced to shut down and go home, leading a projected contraction of more than 30 percent in second-quarter gross domestic product and an unemployment rate of more than 11 percent.

Even though the initial shock passed, that sinking feeling hasn’t gone away. No one knows what’s coming next. For retailers and brands, that means

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