After months of speculation about who would become the new owner of the UK health and beauty Boots business, the answer is… nobody. Its current owner has pulled it from sale with buyers unwilling to pay a premium price.
The sports market continues to grow and that means we’re seeing plenty of launches and deals at present with the latest deal being for a UK business and a French one that are combining to create a major sports group.
The British economy could be in line for a “painful inflation spiral”, the Bank of England’s chief economist Huw Pill has warned. He points to a shortage of workers and businesses’ willingness to pass on higher costs.
Nike beat estimates for quarterly revenue on Monday, as strong demand for its athletic apparel and sneakers in Europe helped the company counter lower sales in China following pandemic-related lockdowns in the country.
Prosus will gradually sell down its massive 28.9% stake in Chinese software giant Tencent, owner of WeChat, as the group announced a major share repurchasing programme.
British indie eyewear brand Kirk & Kirk is targeting fast growth and has announced “major expansion plans after a boom in demand following the pandemic”.
Beauty specialist Warpaint London's update on Monday and said “the group has experienced strong trading in 2022 to date with the brands' proposition resonating with customers, both in the UK and internationally”.
It looks like Cath Kidston could be up for sale just two years after the company's pandemic-linked collapse saw it retreating from much of its physical retail chain and cutting close to a thousand jobs.
At Kering’s Imagination Lab in Paris, Grégory Boutté, the luxury group's chief client & digital officer, spoke to the press about cryptocurrencies, AI, test-and-learn and his vision for the metaverse and Web3.
The brand owned by the Kering group is putting its youth line on hold, which may well be discontinued for good, due to changes in the market.
After leaving his position as CEO of French event sales site Showroomprivé in December, Thierry Petit has sold his 17.61% stake in the company. Eric Sitruk, soon to own a 7.5% stake, is set to become a board member.
German online fashion e-tailer Zalando has been forced to revise its guidance for the year. It cited a further deterioration in macroeconomic conditions as the EU consumer confidence index fell further in June.
The first monthly retail sales report for June is out and it doesn’t look good. The Confederation of British Industry has released its regular report and said retail sales volumes fell slightly in the year to June.
London-based Threadology has secured a seven-figure loan from HSBC UK, as the formalwear supplier and retailer scales up operations as demand grows with weddings and formal events returning after restrictions ended.
Birks Group announced on Thursday revenues for the fiscal 2022 year surged by more than 25%, on the back of a hefty increase in comparable store sales, with revenues for the year outperforming pre-pandemic levels.
