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UK consumer confidence on hold in July could signal deeper concerns ahead – GfK

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6 months ago

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On the surface, there appears nothing to get excited about here. July’s consumer confidence dipped one point to -19 while figures from GfK’s wider long-running Index showed two measures were down, one was up and two were unchanged in comparison to last month’s announcement.

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The holding pattern appears to reflect consumers “are in a cautious wait-and-see mood”, according to GfK’s Consumer Insights director Neil Bellamy.

But wait. He also added that “some people may be sensing stormy conditions ahead”, based on speculation growing over possible tax rises in the Autumn Budget, and price pressure contributing not just to higher inflation already but also to the likelihood of worse inflation to come… “the news is worrying,” he said.

And the importance here is that movement within its Savings Index was “significant” this month “because it does indeed suggest people are anxious”. It jumped seven points to +34 to reach the highest level since November 2007, revealing that those people who can put money aside “are building contingency funds”. 

The index measuring changes in personal finances during the last year remained unchanged at -7, one point better than July 2024 and the forecast for personal finances over the next 12 months is also unchanged at +2, one point worse than this time last year.

The measure for the general economic situation of the country during the last 12 months is down one point to -44, some 12 points worse than last July, and expectations for the general economic situation over the next 12 months dipped one point to -29, some18 points worse than July 2024.

The Major Purchase Index is also up one point at -15, one point higher than this month last year.

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Represent names former Adidas Yeezy boss as its North America president

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January 16, 2026

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January 16, 2026

British luxury streetwear brand Represent has a new country president to lead its North American ambitions. Jim Anfuso, described as a veteran of the footwear and streetwear industry with “pivotal experience” managing the high-profile Adidas Yeezy business, has joined Represent’s executive leadership team.

Jim Anfuso, Represent’s new North America president

He’s tasked with accelerating Represent’s foothold in the US, “currently the brand’s fastest-growing market”. In his new role, Anfuso will oversee all countrywide operations, including retail expansion, wholesale partnerships, and the scaling of its performance line 247. 

The role will also leverage Anfuso’s “deep experience in the footwear sector to refine Represent’s footwear strategy, a category the brand has identified as a key growth pillar”.

Represent noted the appointment “comes at a critical inflection point”, following the opening of the brand’s West Hollywood flagship and the “rapid adoption” of the 247 label.

As the brand “shifts from a cult British label to a global powerhouse”, it said Anfuso “brings a rare dual expertise in high-heat product strategy and operational infrastructure, a skillset honed during his tenure managing one of the most significant footwear partnerships in history”.

CEO Paul Spencer added: “As we enter our next phase of global expansion, the US market represents our most significant opportunity.

“Jim’s track record speaks for itself. From the minute we met… we knew he would be a great cultural fit with the wider leadership team and with [co-founder] George [Heaton] working side by side in our LA. office. Jim’s ability to navigate complex operational landscapes while maintaining brand integrity is exactly what Represent needs right now.”

George Heaton also said: “We have built Represent on ‘Relentless Effort’, and to crack the US market, we needed a leader who understands both the culture of streetwear and the mechanics of a billion-dollar operation. Jim shares our obsession with product and precision. This is a critical piece of the puzzle for the US business”

Anfuso said of his appointment: “Represent has achieved something rare: a hyper-loyal community that spans luxury, streetwear, and performance. My focus is now on operationalising that energy for the US market building the infrastructure, the team, and the strategy to take us from a ‘cult favourite’ to a dominant market leader.

“We are going to execute with the same level of precision and ambition that defined my previous work in this space.”

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Qatar fashion show postponed on regional security concerns, organisers say

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January 16, 2026

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Reuters

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January 16, 2026

The Doha Fashion Show has been rescheduled to March because of regional security concerns, organisers said on Friday after Qatar announced precautionary measures at the US-run Al Udeid Air Base amid rising tensions.

The Doha ​Fashion Show has been postponed

Organisers said the decision to delay the show was taken “out of ⁠an abundance of caution” to prioritise the safety of designers, talent, partners, media, and ⁠guests, while ensuring a high-quality experience. The show was supposed to take place from January 19 to January 21.

Qatar said on Wednesday that ‍precautionary ‌measures had been taken at Al Udeid, including the departure ⁠of some personnel, because ‌of rising regional tensions, according to its International ‌Media Office. The office said the steps were part of broader efforts to safeguard the security of citizens and residents and protect critical infrastructure and military facilities. The security ‍warning at Al Udeid was lowered one day later, three sources briefed on the situation told Reuters on ‌Thursday.

The ⁠Doha ​Fashion Show is a biannual fashion event ⁠launched to ​position Qatar as a regional hub for luxury, fashion, and creative industries. It typically features runway shows, designer presentations and ​industry networking, with a focus on emerging talent.

The show is part of Qatar’s ⁠broader effort to diversify ⁠its economy and expand its cultural and lifestyle sectors, alongside investments in tourism, sports and the arts. 

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Adolfo Domínguez narrows its losses by nearly 19% in the third quarter, lifts turnover by 2.5%

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January 16, 2026

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January 16, 2026

Adolfo Domínguez continues to progress on its path to profitability: in the third quarter of the 2025/2026 financial year, spanning September to November, it reduced its losses by 18.6%. By comparison, at the end of the first nine months of the 2024/2025 financial year it posted losses of €1.65 million, whereas at the end of the same period in the current financial year the figure stood at a net loss of €1.34 million.

Adolfo Domínguez grew sales by 2.5% in the third quarter – Adolfo Domínguez

This is, the company emphasised, the best for this period since the 2013 financial year in terms of its net result. And what about turnover? Adolfo Domínguez’s sales in the first nine months of the financial year reached €93.3 million, 2.5% more than a year earlier. Comparable sales, meanwhile, rose 4.2% year on year, while gross profit increased by 6.4% to €56.6 million.

Operating profit (EBIT) totalled €0.8 million, an improvement of €1.3 million on the previous year. EBITDA came to €12.4 million, up 24.9% year on year.

Adolfo Domínguez’s corporate finance director, Rubén Martín, highlighted the company’s efforts to “maximise the profitability of sales and the commercial network, with a notable improvement in margin, in operating profit and greater profitability of the network in Spain, a market that continues to consolidate despite the sector’s downward trend.”

43.9% of sales from international markets

The Spanish fashion company, as it did when presenting its results for the first half of the financial year, highlights the upward trend in its international sales. In the first nine months of the financial year, they accounted for 43.9% of total revenue.

The brand’s network comprises 372 points of sale in 53 countries. Notable in the third quarter were sales increases of 89% in the Middle East and 13.5% in Latin America. “In countries such as
Chile, Colombia, Uruguay, and Paraguay, revenue growth is
above 26% thanks to its connection with the market and
selection of commercial partners,” the company said. In the Mexican market, where it operates 142 points of sale, sales rose by 6.1% in the period. And what about Europe? Standouts included France (21.7%), Portugal (6.7%) and the UK (4.8%). By channel, online sales in the first nine months of the financial year increased by 8.5% compared with the same period of the previous year.

Adolfo Domínguez ended its last full financial year with revenue of €136.5 million, with 41% of its sales outside Spain. Among the group’s latest developments is the departure of its managing director at the beginning of 2026, just a few months after his appointment.

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