Sports Direct has further increased its stake in Debenhams, raising its interest in the department store chain from 23 per cent to 29.7 per cent.
Sports Direct has further increased its stake in Debenhams, raising its interest in the department store chain from 23 per cent to 29.7 per cent. This means Mike Ashley’s retail company is now just 0.3 percentage points away from the minimum stake in requires to launch a takeover bid of Debenhams. While Sports Direct now owns more than a quarter of the department store retailer, UK takeover rules stipulates that a shareholder holding shares worth 30 per cent or more of another company’s stock must launch a formal takeover bid.
Iconic department store Selfridges has opened what it purports to be the world’s first boxing gym within a department store. The Boxing Gym is a fully-functioning in-store boxing gym located inside the luxury retailer’s Oxford Street flagship in London, and will open until the end of the month
VF Corporation, the parent company of high street brands Lee, Vans, The North Face and Timberland, has announced a number of senior leadership changes within its Europe, Middle East and Africa jeanswear division. Johan De Niel has been promoted to vice president of Wrangler EMEA, while Peter Kats has been promoted to vice president of Lee EMEA. Both will lead the design, product, merchandising and marketing teams of their respective brands
Maplin has announced a new partnership with tech repair specialist iSmash as it ramps up its tech support offering to rival Dixons Carphone. Concessions in three of Maplin’s stores across the UK will be trialled, offering customers an “express tech repair service” on smartphones, tablets and laptops under Maplin’s roof.
Heritage retailer Hunter has hired Daniel Shaw to be its new design director, replacing Niall Sloan who resigned earlier this summer. Shaw’s last gig was with Christopher Raeburn, which he resigned from last year after six years with the company, starting off as in-house production manager before taking on the role of design manager for three years. He has also been an associate lecturer at the London College of Fashion since 2015
The Fragrance Shop has enjoyed another buoyant trading year, boosted by a range of big-ticket perfumes and its ongoing store expansion. Like-for-like sales increased by five per while overall sales increased by 11.9 per cent on continuing store activities on a comparative 52 week period. The Manchester-based retailer, which operates 183 stores nationwide, also said total consolidated net sales rose to £112 million while its online sales increased by 34 per year-on-year