Furla and Versace are the latest retailers to implement a fur-ban, as a growing number of fashion houses acknowledge the environmental and ethical implications of using real animal fur in their collections. Luxury accessories brand Furla is poised to go fur-free from November this year, starting with its Cruise 2019 collections. All Furla products in both its women’s and men’s collections will be made using ecological fur instead.
The retailer failed to keep pace with changes, losing touch with shoppers and toymakers.
The departures of two top executives at Nike is indicative of a larger cultural problem, says Pro4ma founder Dunn.
Analysts predict Next will report a drop in full-year profits next week as the high street endures a gloomy period as a result of a decline in consumer confidence and spending. A consensus of City analysts are expecting an eight per cent fall in annual pre-tax profits to £725 million for the fashion retail giant, despite posting a rise in sales over the crucial Christmas trading period. Next said full-price sales in the 54 days to December 24 increased 1.5 per cent, ahead of expectations, with part of the improvement down to the colder weather leading up to Christmas
Online marketplaces are now accountable for tax fraud committed by online sellers on their platforms, as new HMRC powers come into effect this week. These new laws, which were first announced by Chancellor Philip Hammond during last year’s Autumn Budget, aim to level the playing field so high street and online retailers are not disadvantaged. This means online marketplaces now have the responsibility to make sure sellers on their platform pay the right tax and to make sure fraud does not happen.
Other activists are trying to oust the board of Rubbermaid's parent, but Carl Icahn says he hasn't decided which side to support.
Hammerson’s proposed takeover of rival Intu has been hit by further resistance as stock prices plummet amid warnings of a shareholder mutiny. International investment bank Credit Suisse downgraded the stock of both Hammerson and Intu, with the former dropping 4.86 per cent to 434.4p per share, the lowest level in six years. Credit Suisse cautioned the shopping centre giant that investors could revolt in a vote next month over the proposed £3.4 billion deal, first announced last December.
Tesco’s takeover of Booker has prompted multinational financial services firm JP Morgan to recommend its clients to buy shares in the grocery giant for the first time in five years.
British Land is set to complete a £96 million purchase of Royal Victoria shopping centre in Tunbridge Wells. The property giant has exchanged contracts with Hermes Investment Management to purchase the 300,000sq ft shopping centre, which has been owned by that latter since 2012
Another Nike executive is leaving the the company amid complaints about inappropriate behavior at the sneaker giant.