UK fashion market shows steepest sales decline in seven years - Kantar Worldpanel
Britain's fashion market has suffered its steepest decline in sales since 2009 as consumers increasingly spend their money elsewhere, according to industry data published on Monday.
Retail industry executives including Next's (NXT.L) chief executive, Simon Wolfson, reckon there has been a cyclical move away from spending on clothing back into areas that suffered the most during the economic downturn, such as eating out and travel.
Researcher Kantar Worldpanel said data for the year to Sept. 25 showed that UK fashion has seen four months of consecutive sales decline, with nearly 700 million... read more
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