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ABG to buy Ted Baker for £211m, will restructure firm and target US growth

ABG to buy Ted Baker for £211m, will restructure firm and target US growth

​Ted Baker and Authentic Brands Group announced on August 16 that ABG will be buying the British fashion retailer for an agreed price of around £211m ($254m). It will mean a major push into North America for the label.
Fashion
Joules names Jonathon Brown as new CEO

Joules names Jonathon Brown as new CEO

​Lifestyle retailer Joules said it has found a new CEO to replace Nick Jones. Jonathon Brown will join on 7 September 2022 and will take over fully at the end of next month “following a short handover period”.
Fashion
Tophsop founder and ex-Debenhams chief Halpern dies

Tophsop founder and ex-Debenhams chief Halpern dies

​British retail titan Sir Ralph Halpern has died at the age of 83. The executive, who launched the Topshop chain and once ran Debenhams, was one of the highest-profile retailers during the Thatcher era in the 1980s.
Fashion
Primark creates customer chief role, names Michelle McEttrick to post

Primark creates customer chief role, names Michelle McEttrick to post

​Primark has named Michelle McEttrick to the new Chief Customer Officer role, “to develop the Primark brand and customer strategy as the business continues its expansion across new markets, channels and products”.
Fashion
Most US consumers reluctant to spend due to inflation, but still buying office-wear

Most US consumers reluctant to spend due to inflation, but still buying office-wear

Around four out of five consumers (80 per cent) in the US say that they are less confident about spending, while 62 per cent of them believe that the county is currently experiencing a recession.
Fashion
UK shoppers surprisingly ready to spend during heatwave, fashion stays strong

UK shoppers surprisingly ready to spend during heatwave, fashion stays strong

Hot weather drove Britons to buy summer fashion, as well as outdoor goods, in July. But they also reined-in spending on foreign travel and eating out as the cost-of-living squeeze made itself felt, two surveys show.
Fashion
Shopify merchant growth falters as weak consumer spending hits businesses

Shopify merchant growth falters as weak consumer spending hits businesses

​Businesses stung by rising costs and lower consumer spending are shying away from Shopify's platform, creating a roadblock in its plan to fix past missteps in overestimating e-commerce demand.
Fashion
Next in talks to buy 25% stake in troubled Joules

Next in talks to buy 25% stake in troubled Joules

​Next has been busy buying up stakes in both strong and struggling businesses and the latest example of the latter is Joules, at least according to a news report.
Fashion
UK retailer Next lifts outlook on strong clothing demand

UK retailer Next lifts outlook on strong clothing demand

​Retailer Next, a mainstay of Britain's shopping streets, defied the economic gloom on Thursday to lift its full-year sales and profit forecasts after warm weather in June and July spurred better-than-expected trade.
Fashion
Sales and profit boom at Hermès in H1, China bounces back at end of period

Sales and profit boom at Hermès in H1, China bounces back at end of period

​Hermès saw a sales boom in Q2 as — like its luxury peers — it enjoyed strong growth in Europe and the US with China also recovering during June towards the end of the quarter.
Luxury
Campaigners step up efforts to prevent M&S Marble Arch demolition

Campaigners step up efforts to prevent M&S Marble Arch demolition

​M&S can expect yet more opposition to its long-running bid to demolish and rebuild its flagship Marble Arch, London, store. Heritage campaigners have begun crowdfunding to oppose the plans in an upcoming public enquiry.
Fashion
Hammerson returns to profit with footfall almost back to pre-pandemic levels

Hammerson returns to profit with footfall almost back to pre-pandemic levels

Hammerson listed three key positives in its half-year trading update on Thursday. The commercial property giant returned to pre-tax profit as footfall recovered to near pre-pandemic levels and costs fell.
Fashion
Landsec chair set to "retire", Bluewater operator seeking replacement

Landsec chair set to "retire", Bluewater operator seeking replacement

​Landsec is on the lookout for a new chair. The vacancy arises because Cressida Hogg is set to "retire" next year from her positions of both chair and director of the property giant. She was appointed chair in 2018.
Fashion
URW stronger in first half as Westfield owner says Q2 tenant sales beat pre-Covid levels

URW stronger in first half as Westfield owner says Q2 tenant sales beat pre-Covid levels

​France-based malls giant Unibail-Rodamco-Westfield (URW) has reported “continued recovery across all business divisions” and on Thursday said that Q2 tenant sales are exceeding pre-Covid levels.
Fashion
UK July retail sales volumes slip again but August’s a concern - CBI

UK July retail sales volumes slip again but August’s a concern - CBI

UK retail sales volumes continued to fall month-on-month, albeit slightly, in the year to July, according to the latest CBI Distributive Trades Survey. Online sales volumes also painted a similar picture.
Fashion
Trends service Stylus unveils new platform and brand refresh

Trends service Stylus unveils new platform and brand refresh

Stylus has released a new platform and refreshed its branding “to signal a new phase of growth under CEO Victoria Rennie”. It worked with Re Design on its brand strategy, and Matter Of Form on the new platform.
Fashion