Jane Hali & Associates’ latest investment research focused on retail trends. Most notable was weaker consumer spending in Europe versus the U.S. Hali also said store openings and remodeling of stores in London were strongly evident.
Overall, Hali said Europe “displayed consumer strength in the luxury sector and weakness in all other categories.” In her research note, Hali said consumers “are more affected by Russia’s invasion of Ukraine due to its energy supply to Europe, inflation and recession threats.”
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Hali said consumer discretionary categories “were hit harder than in the U.S. Although we saw signs of tourism returning, most retailers were not benefiting despite strong in-store assortments across apparel, footwear and accessories.”
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As a result, Hali said her firm is “cautious of brands who have strong businesses in Europe,” such as PVH, Nike, Foot Locker, Abercrombie & Fitch, Levi Strauss & Co., VF Corp. and Crocs, among others.
Regarding the remodels and openings on Regent Street, Hali’s list included Abercrombie & Fitch, Hollister with Gilly Hicks, Fabletics, Marc Jacobs, 66 North, Gym Shark, Levi Strauss & Co., Hugo Boss, Free People and Theory, among others on Regent Street. She also noted a Gilly Hicks stand-alone on Carnaby Street and an Arcytrxy in Piccadilly Circus.
Other notable changes were a Vans on Oxford Street that replaced a Miss Selfridge and an Ikea on Oxford replacing Topshop.