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Burberry has said it is “encouraged” by the initial progress from its transformation plan but highlighted that trading conditions remain “challenging”. The London fashion house revealed that retail revenues fell by 6% to £433 million for the 13 weeks to 28 June, compared with a year earlier, amid a drag from currency rates. However, it reflected a slowdown in the group’s sales decline amid efforts to turn around its fortunes after coming under pressure from weaker luxury spending. Last November, the group launched a £40 million cost-cutting programme after first sinking to a loss. In May, the company announced proposals to cut about 1,700 jobs worldwide over the next two years as part of the shake-up. In its fresh update, Burberry said it has made some progress in its transformation efforts but is still in the “early stages” of the potential turnaround. The company said: “In the first half, we are continuing to prioritise investment and expect to see the impact of our initiatives build as the year progresses.” It pointed towards efforts to simplify its operations and improve productivity in a bid to improve profit margins. In the latest quarter, Burberry said there were improvements across its main regions, amid strong sales of “outerwear and scarves”. Comparable retail sales grew by 1% in Europe, the Middle East, India and Africa (EMEIA) as positive local spending helped to offset declines among tourists. Meanwhile, its Americas business reported growth of 4% for the quarter. However, it said sales in Greater China fell 5% for the quarter, while its Asia Pacific division saw a drop of 4%, driven by a “challenging performance in Japan”. Joshua Schulman, Chief Executive of Burberry, said: “The improvement in our first quarter comparable sales, strength in our core categories, and uptick in brand desirability gives us conviction in the path ahead. “Our autumn 2025 collection is being well received by a broad range of luxury customers as it arrives in stores. “Although the external environment remains challenging and we are still in the early stages of our transformation, we are encouraged by the initial progress we are starting to see.”

Scoop London is not your usual trade show. That much is clear from the moment you step into the door where visitors are greeted by the sight of mannequins in expertly styled, brightly coloured outfits perched on fairground horses.  All of this is set against a backdrop of surreal artwork featuring whimsical creatures, one of which is the dog of show founder Karen Radley. The presence of her dog is a symbol of how personal this show – which this season has been dubbed “The Magical Edition”– is to Radley. While Scoop is owned by exhibitions giant Hyve (which also owns Source Fashion, Spring Fair, Pure and Moda), Radley is still given full creative control of the show. She retains a firm hand on the curation choosing designers who fit her vision. Radley leans towards designers that offer quality, individuality and that certain something you can’t put your finger on. Everything on display warrants a closer look as there are always surprising details. This being a summer edition there was plenty of resort wear on offer, along with ready to wear, accessories, footwear, jewellery and plenty of add-on buys for boutiques and department stores in the form of beauty and lifestyle products from candles to umbrellas. More than 200 premium, contemporary designer collections were on display and, over the three days of the show, buyers flocked from big name independents and department stores from across the UK, Ireland and Europe (and some from even further afield.  Buyers came from across the UK, Ireland and Europe (and some from further afield) Representatives from Cordelia James, Chattertons, Cavells, The Dressing Room, Bob & Ted, Sister, Anya, Doyle’s, Sass & Edge, Browns and The Mercantile along with El Corte Inglés, Galeries Lafayette, Printemps, Anthropologie, Le Bon Marche, Fenwick, John Lewis, Frasers, Voisins, Morley Stores and Macbees were all present and writing orders. Beloved independent retailer Pamela Shiffer commented, “The layout is gorgeous as it is calm and spacious so you can see clearly what’s on offer and easily get to the designer stands. There has been a really good edit of collections, put together in a way that is easy to work with and lots of price points which is great. I have placed orders with new designers as well as some top ups with quite a few existing collections. The food was amazing too, kept us fuelled up!” The hospitality and staging of Scoop sets it apart from other trade shows Whether it was the food (Scoop always does the best food), the uplifting fashion or the nice weather, there was certainly a sense of positivity in the air, which was refreshing. Radley said: “There’s been a real sense of discovery and optimism, and it’s been wonderful to see so many new connections made, and relationships strengthened. One of the most rewarding parts is discovering new collections and giving emerging and international designers a platform, helping to support them as they grow and enter the UK market. This season, we’ve welcomed buyers from all over the UK, Europe and Far East which has added to the vibrant, international buzz of the event. The Magical Edition has been one of our most vibrant yet, and I’m already excited for what’s to come next season.” TheIndustry.fashion walked the floor to speak to some of the interesting exhibitors that caught our eye.   Benjamin Sumner, Co-founder, Future Fwd Agency, representing Blunt Umbrellas Future Fwd (representing Blunt Umbrellas and Sleepers flip flops) was one of the first stands visitors came across upon entering Scoop, but its presence was felt even before you walked through the door. Scoop team members who had been strategically placed outside the train station and the venue to ensure visitors found their way in, were all carrying Blunt umbrellas to provide shade from the sun or protection from the odd rain shower. The brand hails from New Zealand offering high quality, durable umbrellas with specific design details to prevent them from blowing inside out and breaking in the wind. Their sophisticated colours and design elevate them from the ordinary. The brand also fits in with Future Fwd’s ethos of representing B Corp or sustainable businesses. Co-founder of the agency Benjamin Sumner had an “amazing” show. “We wanted to see a lot of independent businesses and we have. As an agent, you are quite often out and about and on the road quite a lot, so it’s good to be in one place where everyone comes at once and also they’re in the mindset of buying. “For us as a new agency – we’ve only been going for just under two years now – getting people to come into our showroom space is not always easy. For buyers, we always know that their schedule is super hectic. They have to travel across London from tube station to tube station. The showrooms are so spread out, so I think it’s great to have all the brands under one pyramid, under one umbrella. “For us, we have been getting in front of new people. Also we have seen a lot of our connections that we know anyway, just from our wholesale background. The show’s been great from our side, and we’ve done well on the press and PR as well – it’s great brand awareness. “I also think there are definitely a lot of conscious buyers. The people that bought from the stand have been really focused on B Corp and sustainability and that’s what we really believe in as a brand.” Estelle Bauer, Stephane Kélian Estelle Bauer was at Scoop for the first time showing premium French footwear brand Stephane Kélian, best known for its intricately woven leather designs. The brand is in its second year of revival under footwear veteran Bauer, who approached its former owner Groupe Royet to ask of she could take it on. Royet had bought the brand from the designer in 2007 but in recent years it had more or less fizzled out. Having had the go-ahead from

Buy now, pay later providers will have to check that people can afford to repay their loans and offer support if they get into financial difficulty under a consultation put forward by the Financial Conduct Authority (FCA). Borrowers will also be able to complain to the Financial Ombudsman Service if something goes wrong. The rules, giving consumers more transparency over what this type of borrowing involves, would take effect when buy now, pay later (BNPL) comes under the FCA’s remit next year. The new oversight by the FCA would mean that BNPL borrowers will have key protections that already exist for other types of lending. The FCA also oversees the Consumer Duty, which requires financial firms to put consumers at the heart of what they do, including when designing products and communicating with their customers. Sarah Pritchard, Deputy Chief Executive at the FCA, said: “We have long called for BNPL products to be brought into our remit, so people can benefit from BNPL while being protected. “Our regulation will help consumers navigate their financial lives, with checks on whether they can afford to repay, support when things go wrong and access to the right information to make informed decisions. “We’re mainly relying on existing requirements, including the Consumer Duty, rather than proposing to make lots of new rules, supporting growth and allowing firms to innovate.” BNPL products are a way for people to spread the costs of purchases without paying interest. BNPL options regularly pop up at online checkouts. But concerns have been raised that some people could end up taking out loans that they cannot afford to pay back on time, incurring charges. According to the FCA’s research, one in five (20%) UK adults – equating to 10.9 million – had used BNPL at least once in the 12 months to May 2024, up from 17% in 2022. In May 2024, 2% of UK adults (equating to 1.1 million) had £500 or more outstanding unregulated BNPL debt, and 11% of UK adults (5.3 million) had £50 or more outstanding, the regulator found. The FCA’s consultation is open for feedback until 26 September 2025. A temporary permissions regime will be open for firms to register two months before the regime comes into force on 15 July 2026. Firms will then have six months from the date the regime comes into force to apply for full authorisation. BNPL is a broad term which can include some credit agreements that are already regulated, the FCA said. Its new proposals relate to unregulated BNPL agreements, referred to as deferred payment credit (DPC). The Government has made legislation to bring DPC products under FCA regulation. DPC refers to unregulated interest-free credit, which finances the purchase of goods or services and that is repayable in 12 or fewer instalments within 12 months or less. Lenders who only provide DPC do not currently need to be FCA authorised, leading to concerns that some borrowers may not be receiving enough information about what credit agreements involve. Alison Walters, Interim Director of Consumer Finance at the FCA, said: “Our proposals are aimed at ensuring that consumers get good consumer outcomes and that there is an appropriate degree of consumer protection. “And by that, we mean that consumers get the right information, in the right way, at the right time, so that they can make an informed decision about their buy now, pay later lending.” She continued: “What we’re asking in our rules is for firms to carry out an affordability check, to ensure that consumers are able to pay. And if they get into financial difficulty to provide them with an appropriate level of support. “We also want them to give more information in relation to late fees, consequences if they miss a payment, and impacts, for example, if it may affect credit ratings. “And also information about their withdrawal and cancellation rights.” She added: “If something goes wrong, consumers will be able to refer their complaint to the Financial Ombudsman Service.” Walters said that in terms of supporting those in financial difficulty: “Under our existing rules, firms can offer forbearance to consumers if they get into financial difficulty.” She said that could include changes in the payment plan and people can also be signposted to debt advice or other support mechanisms. Walters added that under the new rules “we still think that this market will be viable and profitable”. She pointed out that the BNPL market has already grown in size and popularity. According to the regulator, DPC lending has grown from £0.06 billion in 2017 to more than £13 billion in 2024. A Klarna spokesperson said: “After five years of constructive work with HMT (HM Treasury), we’re entering the home straight to make BNPL regulation a reality – a major win for UK consumers. “We’re looking forward to working with the FCA on rules that protect consumers while keeping choice and innovation at the heart of the UK credit market.” A spokesperson at BNPL provider Clearpay said: “We will support the FCA as it consults on and finalises its specific rules for the sector.” The spokesperson said regulation “will establish a consistent operating environment and clear compliance standards for all providers,” adding: “Clearpay research highlighted that nearly half of UK adults (48%) are more likely to use BNPL once regulation is passed, and with 71% believing that it is important for BNPL to be subject to UK financial legislation, today’s announcement will help foster trust among consumers. “It will also create a more sustainable foundation for the future of BNPL as it continues to grow as an everyday payment option for consumers.” Vikki Brownridge, Chief Executive of StepChange Debt Charity, said: “It’s incredibly reassuring to see the FCA’s consultation on its proposed approach to regulating buy now, pay later.” She added: “Whilst BNPL can be a useful budgeting tool, it can deepen debt problems, and it is important struggling consumers are afforded the same level of protection as for other forms of credit. “Bringing BNPL