News that ASOS CEO Nick Beighton has stepped down rather put the firm’s results statement in the shade. But there’s no denying the company remains one of the most successful in fashion retail, even if growth is slowing.
UK property giant British Land has said it has received “encouraging interest” from potential “high-quality” replacements to fill the still-vacant former Debenhams site at its part-owned Meadowhall centre in Sheffield.
Just how tough UK retail’s pandemic mauling has been — especially for fashion — came into stark focus on July 30. More than one in seven stores are now vacant on UK high streets, retail parks and in shopping centres.
Kurt Geiger-owned women’s footwear and accessories retail brand Carvela has opened a standalone store at the Landsec-operated Bluewater mall in Kent. It becomes Carvela's seventh UK store and first in the South East.
Taxpayers will take a major hit following the demise of the Arcadia Group, the UK fashion group that fell into administration last year. And just £30 million will be shared by heavily-out-of-pocket unsecured creditors.
ASOS has formed a North American joint venture with US-based multi-channel retailer Nordstrom, which will take a minority interest in the Topshop, Topman, Miss Selfridge and HIIT brands "to help drive their growth”.
Positive news for giant retail landlord Landsec. The UK’s largest commercial property firm said Friday it has made “good progress” on rent collections following over a year of widespread pandemic-induced disruption.
ASOS released its interim results on Thursday and the fashion e-tail giant confirmed just how strong it is, as its own brands and Arcadia labels boomed. It saw sales rising globally and profits soared.