French Connection this morning revealed a 2.4 per cent drop in group revenues for its half year as it continued to battle “tough retail trading” in the UK. French Connection closed two more underperforming stores in the half year to July 31, as the brand re-iterated its intentions to have just 30 UK stores by the end of the year
Target is teaming up with Chrissy Teigen: The model and social media star is launching a cookware collection in stores later this month, The Business Journals reports.
Zalando’s share prices have dive-bombed nearly a fifth after the company warned that full-year earnings were likely to be over €70 million less than previous estimates.
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Coast’s owner Aurora Fashions has ramped up its search for a buyer as the fallout from House of Fraser’s demise weighs on its margins. According to Sky News Aurora has been reaching out to potential buyers in the last two weeks in an effort to offload Coast
John Lewis’ prized Oxford Street flagship will see its business rates tax rise 57 per cent from last year’s £12.68 million to £19.91 million under last year’s controversial revolution. According to real estate advisor Altus Group, the Oxford Street store will pay £41.01 million in business rates over the next 4 years of the business rates cycle, until the next revaluation in 2021. READ MORE: John Lewis rocked by 99% drop in HY profits That means John Lewis will be forced to pay an extra £14.82 million compared with the 2016-2017 tax levels, given the change in rateable value
In what ways has brand licensing contributed to M&Co as a business? Brand licensing has contributed to the M&Co business by enhancing our own brand offering and enabling us to increase our width of selection and choice for our customers.
Debenhams shares plunged 17 per cent yesterday in the wake of news that KPMG was called in to help draft emergency plans to save the embattled retailer. Reports indicate that the department store was considering a list of options, including a CVA, an insolvency procedure used by struggling retailers to shut under-performing shops, cull staff numbers, and restructure the business in order to save it from complete collapse. According to The Sunday Telegraph , Debenhams reportedly called in KPMG to help draw up the turnaround plans
One of House of Fraser’s major suppliers has backed Mike Ashley’s call for an Insolvency Service investigation into its former directors. Tea Terrace co-founder Ehab Shouly told The Sunday Times that House of Fraser’s former chairman Frank Slevin and former chief executive Alex Williamson “kept vital information from us and kept telling us that news about the impending collapse was not true”. READ MORE: House of Fraser’s website to reopen as loans are offered to struggling suppliers Shouly has now joined Mike Ashley’s demands for an investigation into the department store’s former directors, who they claim failed to disclose the extent of the retailer’s financial problems.
Rapha has announced a string of job cuts which are expected to increase as it embarks on major new cost cutting initiative. The upmarket cycling retailer has launched a redundancy programme resulting in the loss of 15 jobs, and insiders told The Telegraph the number could rise significantly