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UK launches pared-back job support scheme as Covid cases rise

UK launches pared-back job support scheme as Covid cases rise

UK finance minister Rishi Sunak on Thursday unveiled fresh plans to help the pandemic-hit economy with a jobs support scheme to help people employed on shorter hours, but warned he could not save every business or role.
Fashion
Icon Outlet outperforms as post-lockdown sales and footfall rise

Icon Outlet outperforms as post-lockdown sales and footfall rise

​UK retail seems to be recovering in a very uneven way with some destination types recovering faster than others and local high streets faring better than city centres. Outlet malls in particular seem to be doing well.
Fashion
India's Reliance Retail in 'talks' on Debenhams

India's Reliance Retail in 'talks' on Debenhams

​Ailing department store chain Debenhams is reportedly in the sights of India’s richest man, Reliance Retail's Mukesh Ambani. He’s among the parties that have approached the firm’s advisers.
Fashion
Consumers hold brands to account over pandemic actions - report

Consumers hold brands to account over pandemic actions - report

​The ethical behaviour of online brands during the pandemic is lingering in the memory of consumers and will have a lasting impact on customer loyalty in the UK and Ireland.
Fashion
Luxury spend within China to soar says Boston Consulting

Luxury spend within China to soar says Boston Consulting

​As luxury reels from the effects of the pandemic as much as other sectors, there’s some good news in that Chinese demand for luxury goods is predicted to grow as much as 30% this year.
Luxury
Joules recovery starts, sales beat expectations, led by e-tail

Joules recovery starts, sales beat expectations, led by e-tail

​Joules had reasonably upbeat news on Wednesday, saying that its performance in its first quarter has been encouraging, despite the challenging trading conditions. 
Fashion
French presidential palace requested LVMH letter - sources

French presidential palace requested LVMH letter - sources

France's presidential palace asked Foreign Minister Jean-Yves Le Drian to send luxury goods company LVMH a letter advising it to defer its acquisition of U.S. jeweller Tiffany, two sources said.
Luxury
Unilever clears first hurdle in planned unification move

Unilever clears first hurdle in planned unification move

​Unilever NV shareholders have approved plans to end the Anglo-Dutch company's dual-headed corporate structure and form a London-based entity, which it says will make dealmaking simpler.
Beauty
UK footfall stays weak, Central London still down more than half

UK footfall stays weak, Central London still down more than half

​Visitor traffic to retail destinations rose in the latest week, up 2.4% compared to the week before. But that wasn't the good news it might have been as the previous week had seen a footfall drop of 6.3%. 
Fashion
UK retail in shock as government to end tax-free shopping for non-EU tourists

UK retail in shock as government to end tax-free shopping for non-EU tourists

The UK government is being urged to reconsider its decision to almost completely opt out of tax-free shopping at the end of the year with retailers and the bodies that represent them saying it would be a catastrophe.
Fashion
'Local' London destinations almost back to full health but West End slumbers

'Local' London destinations almost back to full health but West End slumbers

​Footfall to London’s West End remain down by around half year-on-year even though visitor traffic to more ‘local’ London retail destinations is on its way to a full recovery.
Fashion
Regent Street landlord Crown Estate hangs on to cash to survive the pandemic

Regent Street landlord Crown Estate hangs on to cash to survive the pandemic

​The Crown Estate, like other major landlords, is aiming to conserve as much cash as it possibly can and has delayed the payment of its annual income to the Treasury in the face of a shortfall in rent payments.
Fashion
Aspinal of London CVA to mean store closures

Aspinal of London CVA to mean store closures

​Aspinal of London is the latest British retailer to launch a CVA proposal as the effects of a pandemic have made its current business model unviable.
Fashion
Westfield owner boosts finances, says sales and footfall improve

Westfield owner boosts finances, says sales and footfall improve

The French shopping centres giant has updated on footfall, sales and rent collections, as well as announcing a plan to “strengthen its balance sheet and increase financial flexibility to execute its long-term strategy”.
Fashion
Next is strong despite lockdown sales falls, online and beauty power ahead

Next is strong despite lockdown sales falls, online and beauty power ahead

​Next delivered a well-received set of half-year results on Thursday and as well as demonstrating its relative strength during the pandemic, they highlighted some very encouraging current trading. 
Fashion
Retail entrepreneur Claudio Antonioli acquires Ann Demeulemeester

Retail entrepreneur Claudio Antonioli acquires Ann Demeulemeester

​Italian fashion entrepreneur Claudio Antonioli has acquired Antwerp-based Ann Demeulemeester. The designer, who exited her label in 2013, welcomed the news that the New Guards Group co-founder has taken control.
Fashion