French fashion group SMCP , owner of brands Sandro, Maje and Claudie Pierlot, on Wednesday reported a 18.6% rise in adjusted core profit for 2017 and forecast margins would further increase in 2018 to around 17%.
Moss Bros has seen a perfect storm of problems. Its supplier consolidation has backfired in the short term causing stock shortages, while bad weather and consumer caution have hurt turnover and led to a profit warning.
British fashion brands like Victoria Beckham, Vivienne Westwood and Wool and the Gang are set to benefit from an advertising campaign running across three major Chinese and Hong Kong e-tailers next week.
Macy's CEO Jeff Gennette announced that the retailer is rolling out mobile checkout through its app to all stores in the US by the end of the year. It is also launching a VR feature for furniture shopping this spring.
On the heels of its Athleta brand achieving Benefit Corp certification, Gap, Inc. has announced a sustainability goal of saving 10 billion liters of water, the daily drinking need for 5 billion people, by 2020.
Chinese e-commerce platform Alibaba is reportedly considering acquiring Pakistani fashion e-tailer Daraz, owned by German start-up company Rocket Internet, in a bid to gain a foothold in the South Asian country.
Following the bankrupt toy retailer’s announcement that it plans to shut down its US locations, the e-commerce giant is said to have considered taking over some of the spaces to expand its brick-and-mortar footprint.
LK Bennett surprised the retail sector when it named Darren Topp, ex-boss of failed BHS, as its CEO, but now it seems that Topp is leaving and Erica Vilkauls, who recently ran the failed East chain, is on board.
John Lewis must be hoping for a big sales uplift in the current week as it opens it 50th department store today at Westfield London. But for last week, it saw a total company sales increase of only 2% to £206m.