FIRST AIRED: December 18, 2018

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COMING UP:Share Opener Variant 4

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Transcript

00:00:00
>> The sale signs used to go up once or twice a year, now they're more or less permanent at clothing stores. The world's biggest fashion chain Zara just one to report disappointing sales recently. And if you want to know who to blame, it's not just the usual culprit.
00:00:18
Yes, online retailers have taken market share, but now they're suffering too. Shares in web-only fashion store Asos down almost 40% Monday after it cut sales forecasts. Reuters correspondent Sonya Dowsett in Madrid says a new way of shopping is behind the sector's woes.>> Consumers are becoming more savvy, they're starting to check on where they can get a better price.
00:00:42
And they'll always go for the cheaper price. This means that clothing retailers are left with a great deal of unsold stock, which they then have to sell at a discount. And we're starting to see that discount period coming earlier and earlier in the year.>> European stores face a perfect storm of other problems.
00:01:02
Brexit has British shoppers increasingly worried. The yellow-vest protests have kept many French at home. For all retailers though, the going just keeps getting tougher.