British retail sales have suffered their most widespread annual drop since May this month, according to a survey published on Tuesday which suggests that the latest lockdown is taking a heavy toll on many shops.
French luxury goods group LVMH reported a 3% drop in comparable sales for the fourth quarter, as a boom in revenues at its big fashion brands like Louis Vuitton offset a weak performance at its duty free shops.
Quiz reported its interim results on Tuesday and while the company had been struggling for some time, it faced even bigger challenges in the period to the end of September. And the pain has continued since then.
Boohoo on Monday confirmed that it has bought the Debenhams brand for £55m. It will use it to move into beauty and homewares, extend its own brand offering, operate a giant online marketplace and grow internationally.