ASOS' lowering of its FY2021/22 sales growth & profit expectations this morning, and Missguided’s recent tumble into administration (though arguably one of the drivers of its demise was the success of boohoo and PLT) demonstrate the difficulties facing the online fashion segment.

Primark's click & collect trial is a step in the right direction for the retailer but could be perceived as too little too late for many consumers who have already established value online favourites.

This is unsurprising as boohoo's profitability has taken a big hit from the cost of returns. Returns will be free for boohoo Premier shoppers, but many consumers will be reluctant to spend on such schemes with the rising cost of living, pushing them to rivals, especially Primark.

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In The Style sold for £1.2m - share price has tanked since its IPO and though shift back to stores and away from fast fashion is partly to blame, it has also lost its USP of influencer collbas meaning it fails to stand out. A new owner will not be enough to revive its fortunes.

Adidas needs to act quick to fix the fallout from Yeezy departure. FY2022 sales still 4.8% behind FY2019 despite global sportswear market growing 9.6%. Brand set to lose £1.2bn in FY2023 if it does not sell remaining Yeezy inventory. My thoughts in Sky News below:

Big queues for the opening of Sephora in Westfield today, some arriving at 6.30am for an 11am ribbon cutting

Resale is still outperforming retail by a significant margin. However, it isn't immune from consumer pressures which is one of the reasons growth rates are slowing a bit after a pandemic boom. Great to chat with Vogue about the trends... voguebusiness.com/companies/as-c…

Just seen that Zara is now offering clothing donations by home collection as well as drop offs in store, but is charging £1.95 for it. Who is going to pay that when plenty of charities collect for free?!

Our What's Happening in Retail newsletter is out today. In this edition we take a look at the rise and rise of resale, and talk to thredUP CEO, James Reinhart, about current and future trends. You can sign up here: news.whir.media/subscribe Neil Saunders

The new, more simplified ownership structure will be beneficial for all parties, with Reiss more able to draw on Next's retail prowess, and Next reaping greater benefits from Reiss' strongly growing position within the market, after its FY2022/23 soared 26.4%.

As per GlobalData's latest forecasts, Shein is expected to be the 10th largest UK apparel retailer in 2023 with a market share of 2.2% - a mere 0.2ppts away from ASOS!

Controversy around the boohoo group is unlikely to have a drastic impact on its shoppers’ actions. A recent GlobalData survey showed that almost 90% of UK apparel shoppers consider price and value for money to be important, compared to just 57% valuing retailer ethics.

While fast fashion players like the boohoo group and ASOS have lost market share over the past couple of years, this is not due to their ethical practices, but instead a result of shifting consumer preferences and rising competition from more dynamic players like Shein.

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