Evidence of red-hot inflation seeping into the American economy is sending a chill through investors after major U.S. retailers reported people are cutting back on buying bigger-ticket items as they just try to get by.
Kohl's Corp cut its full-year earnings forecast on Thursday, joining some of the largest U.S. retailers in warning that red-hot inflation is starting to erode profit margins and consumer spending power.
Six months after a neighborhood fire scarred the center of Paris, destroying Benetton’s main French boutique, the Italian marque reopened its flagship this week, repainted in pink, expressing a newfound optimism.
Yet more strong numbers from the commercial property sector on Thursday. Major London landlord Great Portland Estates joined its peers British Land and Landsec this week in delivering an upbeat performance for the year.
French Connection has become the latest retailer to join the blossoming rental service sector, but with a difference. It will become first major UK brand to operate its own dedicated standalone rental operation.
UK-based threads manufacturer Coats has cut a number of domestic jobs and replaced other roles as part of its new global strategy. The move comes after the the company recently sold its Brazil and Argentina business,
M&S’s premium Jaeger brand has named Suzi Avens as head of product. The ex-Cath Kidston and Boden exec joins as M&S continues its relaunch of Jaeger and puts plenty of support behind it both in-store and online.
Lingerie Specialist Bravissimo has filed accounts for the year ending October 2021 with it saying it was the second year in which it felt the impact of the pandemic. But it managed to increase revenue and profits.
Landlord Grosvenor has launched an interesting project, unveiling “an innovation challenge seeking to find new technologies and partners that are putting customer experience at the heart of bricks and mortar retail”.
ASOS Chairman as Ian Dyson is to take up the same post at electricals retailer Currys. He'll remain with ASOS for now and the firm will replace him once it has appointed a new CEO, with its CEO search still under way.