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
Retail
Sales at John Lewis Hit by Snow Storm
The snow storms that blasted Britain last week also battered the department store chain, with weekly sales slumping more than 14 percent.
Retail
UK Retailers Endure Worst July in Eight Years
British shops saw a dip in sales last month, adding to evidence consumers are cutting back spending on discretionary items.
Workplace & Talent
Power Moves | Designer Duo Departs Carven, Balenciaga Names CEO
This week, co-artistic directors Alexis Martial and Adrien Caillaudaud have parted ways with Carven, and Balenciaga has appointed Cédric Charbit as chief executive officer.
News & Analysis
John Lewis Profits Hit by Competition and Higher Pay
"Pre-tax profits for the six months to July fell by 14.7 percent to £81.9 million and are expected to remain under pressure."
Workplace & Talent
Power Moves | Justin O'Shea to Brioni, Richemont Co-CEO Retires, Nike Hires Dave Dombrow
LONDON, United Kingdom — BoF compiles the most important professional moves of the week.
Financial Markets
John Lewis Provides Holiday Cheer as Store’s Online Sales Soar
John Lewis captured British shoppers’ online buying habits over Christmas, fueling sales growth at the UK department-store chain.
Retail
Christmas Delivery Delays Hit E-Tailers
The Christmas rush is exposing the limitations of internet-only retailers as surging orders cause delivery delays, allowing Europe's shops to fight back with "click and collect" services and more in-store theatre.
Retail
Marks & Spencer Taps Rival John Lewis for New Finance Chief
Marks & Spencer Group hired Helen Weir to succeed Alan Stewart as chief financial officer, recruiting from one of its main UK retail competitors.
Global Markets
Department Stores Fight Back from Online Challenge
PARIS, France — Department stores are starting to enjoy a renaissance after finding ways to attract a new generation of consumers in an age of global
Technology
In-Store Tech, Sales Driver or Hype?
Fashion retailers are increasingly integrating slick interactive technology into their physical flagships. But is all this in-store technology actually making the tills ring or merely providing opportunities for short-term PR?
News & Analysis
Retailers’ Christmas Cheer Tempered by Fragility of Recovery
PARIS, France — Retailers in Europe are predicting their best Christmas since the financial crisis, though optimism is laced with caution in the face
China
The China Edit | Mall Vacancies, John Lewis Asian Concessions, Moschino, Apple iWatch Trademark Worries
The China Edit is a weekly curation of the most important fashion business news and analysis from and about the world’s largest luxury market.
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.