Debenhams announced its expected CVA on Friday with 22 underperforming stores to shut and 1,200 jobs to be affected. But the firm is upbeat and its Redesigned strategy continues, even though sales have continued to fall.
Unibail-Rodamco-Westfield, which owns two of London’s largest malls, said tenants at its European properties did well in Q1, even though the late Easter worked against them as Easter-related sales fell into Q2 this time.
LA-based sustainable denim brand Boyish will set foot in the UK this summer with a launch in Selfridges in London on June 16. The debut will also see it offering a number of exclusive styles at the upscale retailer.
The US on Thursday added China’s third-largest e-commerce platform to its list of “notorious markets” for violations of intellectual property rights and kept China on its priority watch list for counterfeiting concerns.
French luxury group Kering is close to agreeing to pay between €1.3 billion (£1.1 billion) and €1.4 billion to settle a dispute with Italian authorities over unpaid taxes by its fashion brand Gucci, sources said.
Under-pressure Scandinavian retail giant Stockmann Group issued a profit warning on Wednesday on the back of “the weakened outlook” for its Stockmann Retail operation that should last for the rest of the year.
The luxury menswear label closed 2018 with net income of €34 million (+4%) and is forecasting further growth in 2019, after acquiring a stake in Thom Browne and striking e-tail partnerships with Farfetch and Tmall.
The global appeal of the Dazed brand was underlined on Tuesday with news that it is to launch in China. Dazed Media has signed an agreement with Yoho Group, China's “largest streetwear platform” to launch Dazed China.