Mike Ashley’s Frasers Says It’s Taken Control of Hugo Boss
The British retail group has pushed its stake in the German apparel brand above 50 percent in a move that will turn Hugo Boss into a subsidiary of Frasers.
John Lewis
Latest News & Analysis
Retail
John Lewis To Cut 1,500 Head Office Jobs
The British retailer said the move was part of its strategy to return to sustainable profit by 2025.
Workplace & Talent
Power Moves | Nike Names New Diversity Chief
This week, Felicia Mayo, former head of diversity at Tesla, replaced Kellie Leonard in a similar role at the American sportswear giant.
Retail
John Lewis Set to Close Eight Stores and Cut 1,300 Jobs
The move follows as the British department store chain focuses on e-commerce, which is set to represent around 60 to 70 percent of its total sales this year and next.
Workplace & Talent
Power Moves | Hunter Creative Director Departs, LOVE Names Senior Editor
This week, Alasdhair Willis exited the British heritage brand, while LOVE appointed Pierre A. M’Pelé, aka Pam Boy, as its senior editor.
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Retail
John Lewis Full-Year Sales Could Fall 35%
Sales at the department stores were down 17 percent year-on-year since the middle of March.
Retail
John Lewis Poaches Boss of Telecoms Regulator to Be New Chairman
Sharon White will be John Lewis' sixth chairman and the first woman to hold the high-profile position in the retailer's 155-year history.
Retail
John Lewis Cuts Employee Bonus to Lowest Since 1953
The cuts underscore the depth of Britain's current retail crisis.
Financial Markets
Last-Minute Demand Boosts John Lewis Christmas Sales
Britain's biggest department stores operator said demand was 'very strong' on Christmas Eve, indicating that shoppers had delayed rather than cut spending.
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Retail
John Lewis Profits Evaporate as Struggling Rivals Slash Prices
The group said profit before one-off items slumped 99 percent in first half of 2018, hit by its stores' pledge to match prices at rivals.
Retail
Department Stores to Take Toll on John Lewis Profit
The warning comes after it reported a 22 percent drop in core profit to £289 million for its last financial year in March.
Sustainability
Social Goods | ASOS Bans More Animal Fibres, Fashion Assistants Resist Verbal Abuse
This week, ASOS bans silk, mohair and cashmere, while fashion assistants stand up for their rights.
Retail
John Lewis Wants to Be the Anti-Amazon
The retailer wants to build more personalised relationships with its customers through concierge-style services, doubling down on everything it says Amazon can’t do.
The News in Brief
Shein Agrees to Pay $100 Million to Settle US FTC Probe
The settlement, equivalent to 44 percent of the ultra fast-fashion company’s second-quarter profit, is the latest blow amid regulatory and tax crackdowns in Europe and the US that have hampered Shein’s growth.
Kering Drops 12% as Luxury Braces for Tough Winter
The recovery long promised by luxury brands seems nowhere in sight, as the expansion of war in the Middle East, along with China’s tax crackdown on the wealthy, piled further pressure on the world’s biggest luxury conglomerates in the third quarter, and executives buckled in for a tough winter.
UK Retail Sales Fall 0.4% in September, More Than Forecast
Sales fell in September as above-average temperatures hit demand for autumn clothing.
Elle Launches Moroccan Edition
Hitting newsstands in October, the magazine marks Elle’s 51st international edition, published under licence by the Geomedia group.
David’s Bridal Plans Spinoff and IPO of AI Wedding Planning Platform Pearl
Pearl, a subsidiary of David’s Bridal, will own David’s Bridal and license its intellectual property back to the bridalwear brand. David’s Bridal CEO Kelly Cook will serve as Pearl’s CEO.
L’Oréal Sales Beat Expectations as Premium Products Surge
The French giant handily beat expectations on strong demand for hair products at salons and premium skincare from its dermatological division.
P&G Beats Revenue Estimates, Flags Bigger Hit to Annual Profit
The maker of Pantene shampoo was helped by strong personal care demand, but expects higher commodity costs to reduce profit by about $1.4 billion this year.