Articles by Huw Hughes
House of Fraser sales drop 60 percent in run up to Christmas
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Struggling UK retailer House of Fraser has suffered a difficult Christmas trading period, with sales dropping year-on-year in the 12 weeks up to December 18, according to Kantar Worldpanel figures reported by the Telegraph. In August, Sports Direct owner Mike Ashley bought House of Fraser for 90 million pounds when the company went into...
Sir Philip Green launches ‘radical review’ of Arcadia
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Retail tycoon Sir Philip Green has called in advisers from Deloitte to launch a ‘radical review’ of Arcadia, as the fashion group risks losing 100 stores when their leases come to an end in late 2020, the Telegraph reported. Arcadia, which owns Topshop and has closed more than 200 of its stores since 2016, has seen a prolonged dip in sales and...
What to expect in fashion news from week 4, 2019
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What’s going on in the world of fashion this week? FashionUnited takes a look ahead at the upcoming news and events for the 4th week of the year. Below are the main points from the editorial agenda in the period between 21-27 January, 2019. Paris Fashion Week Men’s (17-21 January) This week will begin with with the wrapping up of Paris Fashion...
Start-Rite Shoes CEO steps down
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Start-Rite Shoes Ltd has announced that its CEO, Ian Watson, is leaving the company, effective from 31st January. Watson, who joined the British children's footwear brand in 2016, was the first non-family member to run the company, and led a fundamental overhaul of the business. Commenting on the announcement in a statement, Watson said: “It’s...
Slipper brand Mahabis saved from administration by YYX Capital
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London-based slipper brand Mahabis has been saved from administration by YYX Capital, the investment group co-headed by Simba Sleep founder James Cox. The acquisition, agreed with administrators KRE Corporate Recovery, has safeguarded the jobs of all Mahabis' staff. James Cox will take over as interim CEO, and YYX Capital will lend its expertise...
John Lewis operations officer Dino Rocos to retire
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John Lewis & Partners has announced that its partner and operations director, Dino Rocos, is to retire at the end of May 2019 after 43 years in the business. From the end of January until then he will report to group finance director for the John Lewis partnership, Patrick Lewis, and will be leading the company’s ongoing work on its future...
Caroline Issa to host masterclasses at Eccleston Yards
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Belgravia’s Eccleston Yards has announced that fashion editor and style icon Caroline Issa will be curating a series of two entrepreneurial masterclasses focusing on ways of achieving a healthy work/life balance as part of a two-week ‘New Year’s Revolutions’ event. Issa will be curating a panel discussion entitled ‘Can Balance Exist in today's...
UK consumer spending falls at fastest rate in eight months
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Consumer spending dropped by 1 percent in December 2018, with the run-up to Christmas hitting the sector particularly hard, new data shows. Visa’s UK Consumer Spending Index, compiled by IHS Markit, revealed that overall expenditure continued to decline at the end of last year - with December’s -1.0 percent year-on-year reduction the fastest...
River Island to close its stores in the Netherlands and Belgium
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River Island is set to close all of its stores in the Netherlands and Belgium, a spokesperson of the British retailer confirmed to FashionUnited. The company’s stores in the Netherlands and its store in Antwerp, Belgium, will close at the end of March 2019, though the brand will remain an online retailer in the area, the company said. The news...
Jack Wills calls in advisers amid challenging times
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Lenders to Jack Wills have drafted in advisers to assess the company’s financial situation as the British retailer continues to struggle. Led by the high street bank HSBC, lenders have appointed accountancy firm EY to aid in negotiations over revisions to Jack Wills' borrowing covenants, and to examine its wider financing requirements, Sky News...