Debenhams has announced profit warnings, suggesting that its annual profits will fall from the forecast £50m to £35m to £40m. Sales remain strong but heavy discounting in the face of its rivals heavily discounting, in some cases for their very survival have hit profits. Debenhams CEO has said that the company is...
John Lewis have announced they will be buying back worn and unwanted clothing from its customers in a UK industry first that aims to reduce the 300,000 tonnes of fashion waste going into landfill each year. The pilot scheme has been developed with Stuffstr, a social enterprise. “We already take back used sofas, beds and large...
Luxury fashion brand Bottega Veneta has appointed Daniel Lee as its new creative director. Lee was most recently director at Céline where he worked from 2012. He also held design roles at Maison Margiela, Balenciaga and Donna Karan prior to this. Claus Dietrich Lahrs, chief executive of Bottega Veneta, said: "Daniel Lee...
In celebration of the 2018 World Cup, New Balance and Paul Smith have joined forces to create a limited-edition collection of football trainers, boots, and soccer balls. The sporty range, titled New Balance x Paul Smith, is available to purchase in selected Paul Smith stores and online. The collection boasts three new pairs of sneakers — a New...
H&M have reported flat sales growth for a second straight quarter on Friday. The retailer's shares fell 3.5%. Over the past few years H&M has seen sales stall, pre-tax profits shrink and its shares slide, mainly due to slowing traffic at its budget H&M stores, which account for the bulk of group business....
Tesco have explained their growth plans are on track after it reported a 10th consecutive quarter of rising sales. UK like-for-like sales, which strip out the impact of new stores, rose 2.1% in the 13 weeks to 26 May. Tesco chief executive Dave Lewis said he was "delighted with initial progress on Booker", the food...
Argos have launched a brand new augmented reality feature in their iOS app which enable's customers to view an animated version of a variety of TV models in their own homes using their smartphone. Sainsbury’s have also commented and said the new functionality could revolutionise the way large TVs are purchased by giving...
Mothercare’s non-executive directors Richard Rivers and Lee Ginsberg are looking to step down after the company’s annual general meeting next month. Rivers would be entering his 11th year in the role but will not be standing for re-election. Mothercare said it will be commencing a search for a senior independent non-executive...
Inditex's current Q1 results are coming out as poor, this is because of a variety of European fashion retailers that are indicating how tough 2018's first quarter actually was. They underlined the poor results on Wednesday with net sales expanding to only 2% to reach €5.7 billion in the first three months of its financial year. But...
Tomas Maier, the Creative Director of Bottega Veneta has left the company after 17 years. "It's largely due to Tomas's high-level creative demands that Bottega Veneta became the House it is today. He put it back on the luxury scene and made it an undisputed reference. With his creative vision, he...
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