The department store sector had mixed news last week, with Dillard’s displaying signs of recovery and a new report showing a reversal of some of the positive trends that had led to a measured optimistic outlook. And the luxury merchandise and clothing business appears to be set for a comeback, partly fueled by the consumer shift to Digital 3.0. The evidence can be seen in Farfetch’s earnings and a Bank of America report. All this, Today in Data.
$651M: Farfetch’s digital platform gross merchandise value in Q2 (an all-time high).
560: Number of Dillard’s stores, which are located mainly in the Southeast.
$265.8M: Dillard’s operating expenses for the 13 weeks ending Aug. 1.
90%: Share of its retail square footage that Dillard’s owns.
34%: Q2 growth rate of Farfetch’s digital platform YOY.