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Coats Group weathers turbulent year with improving H2, outlook positive
After a “turbulent” trading year, it certainly wasn’t all bad news for Coats Group despite delivering mostly negative numbers in its 12-month trading statement to 31 December on Thursday.
Fashion
Selfridges sales were rising but pandemic meant huge challenges for retailer
Selfridges had already flagged the fact that its sales rose and its net profits fell in the year to February 2020, but it has now officially filed its annual results and the full extent of that performance can be seen.
Luxury
Oxford Street regeneration plan fails to convince property sector
Some property experts have dismissed the Westminster City Council plans for the revitalisation post-pandemic of Oxford Street and the surrounding areas.
Fashion
Gucci sales fall in Q4, but Bottega Veneta, Saint Laurent are on a roll
Sales at Kering's leading brand, Gucci, suffered a bigger-than-expected drop in Q4 as Covid continued to dent luxury shopping and crimp tourist spending in particular.
Luxury
Skinnydip dives into AI-powered merchandising and A/B testing to boost online sales
It took the pandemic to shift all sales operations online. So clothing, lifestyle and accessories retailer Skinnydip London introduced automated merchandising and A/B testing technology to boost its digital operations.
Fashion
Shaftesbury launches Chinese New Year campaign
A distinct lack of tourists in London to celebrate this year’s Chinese Lunar New Year hasn’t stopped Shaftesbury from forging ahead with a related promotion.
Lifestyle
Strong recovery possible for West End says Mayor's report, but more support needed
Although Central London has been “profoundly” impacted by Covid, the capital’s Mayor Sadiq Khan has said a “rapid recovery is possible” in his report on future challenges and opportunities.
Fashion
Covent Garden landlord slashes property value again as pandemic weighs
Stores closed, no tourists. That pandemic-induced combination has meant one of London’s leading retail attractions, Covent Garden, continues to suffer more than most.
Fashion
Selfridges gets through 2020 in good shape, pre-pandemic sales rose
Selfridges weathered the 2020 storm, despite enduring the toughest retail year in decades. That’s according to company chief Anne Pitcher who admitted that it was the “most difficult” period in its 113 years.
Luxury
Richemont sales edge up, but fashion struggles while jewellery surges
Richemont’s third quarter — the all-important three months to the end of December — saw sales rising only 1%, although currency-neutral, they were up a healthier 5%, despite the “continuously volatile environment”.
Fashion
Burberry sales fall again due to Covid but full-price and Asia are strong
Burberry saw another round of retail sales falls in Q3, with Europe and the Americas still being hit hard. But it said China, Korea, leathergoods, outerwear and full-price sales all headed in the right direction.
Fashion
Kering sponsors renovation of Florence’s Palazzo Vecchio courtyard
Kering is sponsoring a key element of the renovation of the famed Michelozzo courtyard of Florence’s Palazzo Vecchio, the city hall of the Renaissance capital.
Luxury
Harvey Nichols COO steps up to chief executive role
Harvey Nichols has promoted its COO to its top job with Manju Malhotra becoming CEO. She now runs the UK and international stores, plus the online business, at the toughest time for luxury retail in decades.
Luxury
Liberty performance improved pre-pandemic, but 2020 has been tough
Liberty's sales rose and its losses narrowed in the year to February, it said this week. But since then, lockdowns have put it under heavy pressure and while its owners are supportive, times are tough for the flagship.
Luxury
Heathrow could lose 2,000 jobs as tax-free shopping changes
The world’s (usually) busiest airport, Heathrow, could lose up to 2,000 jobs if the UK’s decision to change the rules around tax-free shopping for tourists goes ahead, the airport’s CEO claims.
Luxury
Via Outlets has strong year with 100+ lockdown leasing deals
The outlets sector remains one of the most resilient retail channels at present and Europe-based Via Outlets has completed more than 117 new leasing deals since the start of the pandemic.
Fashion