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Shops report disappointing January sales results

21:04 28/01/2020

Shopkeepers in Belgium have reported disappointing results from the January sales - due to a mild winter and the success of other promotions such as Black Friday.

The sales finish on Friday, and many fashion stores are offering 70% discounts to clear stock before the summer collection arrives.

According to retail union SNI, which surveyed more than 500 independent clothing and shoe stores, revenue during the sales is down 6% compared to the same period last year.

The winter sales are one of only two periods in the year when shops are legally allowed to sell products at a loss to clear stock.

With temperatures in January staying relatively mild, fewer consumers have been looking for warm winter-wear in the sales.

SNI said pre-Christmas promotions - including Black Friday and Singles Day - meant the January sales had less impact.

"Shops' margins are already significantly reduced," said the union. "They hardly earn anything per item of clothing sold."

Written by The Bulletin

Comments

Frank Lee

"They hardly earn anything per item of clothing sold." Really? If you can't make a profit, why stay in business?

Jan 29, 2020 12:51