Following the success of Nike Rise in China and Korea, the sportswear giant is bringing the concept to London in a bid to get closer to the customer with a community focus and sports insights. Nike’s vice president of direct for EMEA exclusively speaks with @VogueBusiness about the plans. [Inside Nike Rise: The new London store concept – Vogue Business]
Athletic footwear sales declined to start the year, and promotions could define the back half of 2022. For the first three months of 2022, athletic footwear sales totaled $6.09 billion, according to The NPD Group retail tracking service, down $546 million from the $6.65 billion mark the year prior. [Athletic Footwear Sales Have Declined — and the Market Is About to Get Promotional- FN]
How to maneuver in the recession driven by the COVID-19 pandemic, Russia's unprovoked invasion of Ukraine and the cost-of-living crisis: perspectives of the retail evolution’s great acceleration in the example of the UK, where booming clothes shops buck retail decline in February.
Retail sales in Germany declined at the end of 2021, falling sharply due to the increase in coronavirus cases and the reintroduction of restrictions, german statistical office Destatis said. (Germany Retail Sales Tumbled in December Amid Renewed Restrictions – MarketWatch). Sales fell 5.5% from December, after a 0.6% increase in November.
Chinese manufacturing activity slowed this January, thanks to a return of COVID-19 and severe lockdowns that cut off supplies. The National Bureau of Statistics Manufacturing Purchasing Managers Index fell to 50.1 from 50.3 in December. Reuters reports that the PMI remained above 50 points, but government data contradicts a private survey, which shows that factory activity has declined at the fastest pace in 23 months.
Nearly 8.8 million people fell ill earlier this month, exacerbating labor shortages. FN reports it. That’s the highest recorded number of workers getting sick since the peak of 6.6 million recorded last January, according to the Wall Street Journal. FN reports that Lululemon, Nike, Starbucks and Macy’s are adopting new reduced hours in some locations, as retailers struggle to retain store staff during the pandemic.
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