Fashion
Dutch consumer confidence improves further in November: CBS
With a headline figure of -27, the consumer confidence indicator for November is positioned well below its long-term average for the previous twenty years (-10). The indicator reached its all-time high (36) in January 2000, while the all-time low (-59) was reached in September and October 2022. Statistics Netherlands has monitored consumer confidence every month since April 1986, based on its consumer survey. Consumer confidence is assessed using five questions, where the balance of positive and negative responses is taken from each question. If all consumers are positive, the balance is 100. If all consumers are negative, the balance is -100.
Consumers were less pessimistic about the economy in November than they were in October. This component of the indicator rose from -46 to -34. Consumers were less negative about the economic outlook for the next twelve months, in particular.
Consumer confidence in the Netherlands improved in November, rising from -27 to -21—its biggest jump in 4.5 years—though still below the long-term average.
Economic sentiment strengthened notably, and willingness to buy increased from -14 to -12.
Consumers were less pessimistic about both future economic conditions and their personal finances, and slightly more open to major purchases.
In November, willingness to buy was -12, up from -14 in October. Consumers were more positive about their personal financial situation for the next twelve months, and were less negative about their financial situation over the previous twelve months. Consumers were also less negative about making large purchases in November than they were in October.
Fibre2Fashion News Desk (RR)
Published
November 21, 2025
ASOS full-year results on Friday showed the fashion e-tail giant still with lots of negative numbers although its gross margin has grown and it seems closer to a return to growth if things go right for it.
The results report contained a lot of words in which the company reviewed its strategy overall and highlighted the improvements it has made, but jumping directly to the figures, it remains loss-making.
Looking first at adjusted figures for the 52 weeks to the end of August, gross merchandise value (GMV) was down 12% at £2.456 billion while adjusted group revenue dropped 14% to just under £2.465 billion. But the adjusted gross margin increase to 47.1% from 43.4%.
Adjusted EBITDA was up from £80.1 million to £131.6 million but this was below analysts’ expectations. However adjusted EBIT narrowed almost 50% at a loss of £32.2 million. The adjusted loss before tax improved almost 28% to £98.2 million.
Moving on to the statutory numbers, group revenue fell 15% to a little under £2.478 billion while the statutory gross margin at 47.1% was up from 40% the year before. The operating loss narrowed from almost £332 million a year ago to a loss of just over £212 million this time and the loss before tax also showed a strong improvement going from last year’s £379 million to a loss of just over £281 million this time.
The company said that for the current financial year (FY26), enabled by the strategic and financial progress made throughout its turnaround, it expects GMV to show an improving trajectory throughout the 12 months with the performance 3-4ppts ahead of revenue performance.
This will be driven by continued growth of flexible fulfilment models and reflecting its mix shift it has moved to GMV as the primary indicator of its top-line performance.
It will see further gross margin improvement reaching between 48% and 50% and further adjusted EBITDA growth to between £150 million and £180 million.
The company has been intensively restructuring its operations with an aim to deliver trends faster. Its Test & React model has successfully scaled to more than 20% of own-brands sales. And its partner brand product portfolio has been transformed. It has also put a number of operational efficiencies in place and strengthened its balance sheet significantly. It also referenced the successful relaunch of the Topshop brands, key leadership appointments during the year and important collabs such as the one with Adidas.
ASOS said its priority for FY26 is to deepen its relationships with customers and to make it not just a place to shop but a destination for inspiration and style. It’s leaning into what makes it distinctive, which it says is its unique assortment of the best own-brand and partner brand products, fuelled by speed and flexibility, styling that helps customers create outfits they love, and increasingly personalised experiences. It believes the most difficult work is now behind it.
FY25 deep dive
So looking back at the results for the past year, the GMV decline of 12% was quite significant, but it reflected actions taken to improve order profitability against a soft consumer backdrop. The top line performance was lower than expected but it said the quality of sales improved and the full-price mix increased with own-brand also gaining share within the mix. Its flexible fulfilment models gained significant traction and this broadened its product range without adding inventory risk, also ensuring that GMV growth outpaced revenue growth.
Its performance by individual markets saw the UK with GMV falling 7% while total revenue was down 9%. The number of visits and the number of orders both fell 12% and conversion was flat. But average basket value (ABV) was up 6%.
The company said the UK performance was more resilient than other regions during the year and while active customers declined by 8%, customer retention is improving.
In Europe, GMV declined 16% with total revenue down 19%, or 17% like for like (LFL). Visits dropped 17% and orders dropped 20% with conversion down 10bps. But ABV was up 3%, or 5% LFL. The company said this was partly due to its actions taken to limit unprofitable orders and also due to macroeconomic pressures.
In the US, GMV fell 18% with total revenue down 25%, or 22% LFL. Visits were down 17% while orders dropped 24% and conversion was down 20 bps. But as with other regions ABV rose, in this case by 4%, or 8% LFL.
Again, in this market the full-price mix improved and the rate of decline narrowed from 31% in H1 to 21% in H2.
In the rest of the world, GMV was down 15% with total revenue falling 16%, or 14% LFL. Visits dropped 14%, orders dropped 17% and conversion fell 10bps. But ABV rose 1% or 3% LFL.
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Source Fashion, Europe’s leading responsible sourcing show, returns to Olympia London from 13-15 January 2026 with its most internationally diverse edition to date. Bringing together exhibitors from across more than 20 countries, the show continues to strengthen its position as the global meeting place for ethical and sustainable fashion manufacturing. From established sourcing destinations to emerging artisan communities, Source Fashion’s expanded line-up of country pavilions will offer buyers an unparalleled opportunity to discover craftsmanship, creativity, and conscious innovation from every corner of the world. As the gateway for global manufacturers and suppliers to access the UK fashion industry, the show provides a direct route for international exhibitors to connect with leading British brands, retailers, and designers.
Source Fashion, Europe’s leading responsible sourcing show, is set to return to Olympia London from January 13–15, 2026 with its most globally diverse edition.
Exhibitors from 20+ countries, including major pavilions from India, Bangladesh, China, Sri Lanka, Africa, South America, Portugal and the UK, will showcase ethical, innovative and circular manufacturing for brands and buyers.
This January, Source Fashion will welcome an impressive line-up of global pavilions, each celebrating the distinctive strengths, skills, and materials of their regions. From established sourcing powerhouses to emerging production hubs, the 2026 edition reinforces the show’s reputation as the world’s most comprehensive and responsible fashion sourcing destination.
Across Asia, sourcing excellence and sustainability continue to advance. This year marks the largest India Pavilion ever seen at Source Fashion, with more Indian exhibitors than any previous edition of the show. India and Bangladesh showcase their strength in large-scale production paired with innovation in sustainable processes, fabrics, and trims. Among India’s standout exhibitors, Coton Code Garments brings a strong reputation for high-quality woven and knitted apparel, supported by responsible production standards and modern manufacturing capabilities. Their presence reflects India’s continued leadership in scalable, ethical fashion manufacturing. China demonstrates precision, speed, and a growing commitment to environmental accountability, while Sri Lanka’s pavilion is recognised for its consistent quality and ethical craftsmanship, with exhibitors specialising in high-tech manufacturing, sustainability-led innovation, and world-leading compliance standards that have earned the country a reputation as a trusted sourcing destination for global brands.
From Africa, a dynamic collective of Kenya, Ethiopia, Egypt, and Tanzania highlights the region’s growing role in global sourcing. These pavilions emphasise ethical production, expanding capacity, and fair-trade practices, underpinned by modern facilities and competitive solutions for brands seeking authentic, sustainable partnerships. Representing the ITC pavilion, Handmade From Tanzania showcases community-driven craftsmanship rooted in traditional techniques and heritage textile skills. Their socially led, women-centred supply chains bring authentic, handmade artistry to the global stage, connecting African creativity with brands seeking meaningful, ethical partnerships.
South America’s rich tradition of textile craft and its growing role in responsible fashion is highlighted through Peru’s innovative, transparent manufacturing capabilities. SH Sourcing brings expertise in premium knitwear and jersey manufacturing, integrating full supply-chain transparency, reduced-impact dyeing, and rigorous fair-work certification into every order. Their commitment to low-impact craftsmanship makes them a key destination for brands seeking elevated, responsibly made essentials.
Portugal continues to set the benchmark for premium European manufacturing, combining exceptional craftsmanship, short lead times, and sustainable innovation that make it a preferred choice for brands seeking quality and proximity. Adding to the European presence, the new British Pavilion makes its debut at the January show, spotlighting design-led, circular, and traceable production for brands looking to source responsibly and locally.
Together, these diverse global showcases make Source Fashion 2026 a truly international platform, where creativity, responsibility, and opportunity intersect, and where buyers can discover the future of fashion sourcing under one roof.
Suzanne Ellingham, Event Director at Source Fashion comments, “Source Fashion has grown into a truly global community, one that reflects the way the fashion industry itself is evolving. Our January 2026 edition brings together makers, manufacturers, and artisans from every corner of the world who share a commitment to creativity, quality, and conscious production. The expansion of our international line-up, from Asia and Africa to Europe and the UK, shows that responsible sourcing is no longer a niche, it’s the new standard. We’re proud to provide a platform where brands can build meaningful, transparent partnerships and discover the future of fashion with integrity.”
Reflecting the show’s growing international appeal, Fibre to Fibre, a pioneering Dutch company specialising in post-consumer circular production, is among the exhibitors joining the January line-up. Known for its innovation in fibre-to-fibre recycling and circular textile systems, the company is helping redefine what’s possible for scalable, sustainable manufacturing in Europe and beyond.
Tom Atkin, UK Business Development Lead at Fibre to Fibre said, “Fibre to Fibre removes the usual barriers to entry for post-consumer circular production. We’ve proven our products and service in the Netherlands, and now we’re offering them to the UK market. Rather than overpaying for poor quality, we offer a service that guarantees quality at a price competitive with organic cotton and recycled polyester. Source Fashion is the perfect place to take this to market with brands attending from all over the world. Source allows us to have global reach in one room, and to focus on making circular manufacturing the norm. We can’t wait.”
Taking place at Olympia London from 13-15 January 2026, Source Fashion offers buyers, designers, and brands a unique opportunity to connect directly with global manufacturers committed to ethical and sustainable practices. As the gateway to responsible sourcing, the show brings together the entire fashion supply chain, from raw materials and fabric innovation to finished garments and accessories, all under one roof. With its expanding international line-up and dedication to conscious creation, Source Fashion continues to shape the future of global fashion sourcing.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (HU)
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