Luxury Goods
The latest news, updates and analysis on the luxury goods segment of the the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
-
Aug- 2018 -3 August
Selfridges open ‘Christmas Shop’ four months before the festive period
Selfridges has opened its ‘Christmas Shop’ four months before the festive period, with the department store claiming the decision was made to appease overseas visitors with whom the range is popular. The shop is expected to be fully stocked by September with over 4,000 items, including souvenir pencils priced at…
Read More » -
Jul- 2018 -11 July
Burberry’s growth slows in Q1 2018
Luxury fashion house Burberry has said it has recorded a “solid performance in retail during a period of transition”, despite seeing a slowdown in its sales growth for the first quarter of 2018. For its first quarter ending 30 June Burberry reported a 3% rise in like-for-like sales a marginal…
Read More » -
Jun- 2018 -25 June
Goldsmiths jewellers owner appoints banks ahead of IPO listing next year
The parent company of British jewellery retail chain Goldsmiths has appointed two banks to manage its flotation on the stock market next year. Aurum Holdings, which also owns Watches of Switzerland, has appointed Goldman Sachs and Barclays to aid with a public listing that may take place in London next…
Read More » -
22 June
Chanel reveals profits for the first time
Fashion brand Chanel has released its profit figures for the first time in its 108-year history. Chanel saw an 18% rise in profit on last year, rising to £1.35bn and sales up by 11% to £7.5bn on the previous year. The brand, known for its luxury jackets, perfumes and handbags…
Read More » -
20 June
Hornby announces £10.1m loss
Hornby has announced a pre-tax loss of £10.1m and “lower than expected sales” leading to shares plummeting by 20% this morning. Revenue at the toy manufacturer has also dropped 20% to £37.5m and losses after tax rose to £9.9m. A Hornby spokesperson told Retail Sector a key factor in the…
Read More » -
1 June
Lush ‘anti-police’ campaign heavily criticised
Cosmetics retailer Lush has been shrouded in controversy after releasing window displays described by many on social media as “anti-police”. According to Lush the window displays are aimed at the undercover policing scandal and at highlighting the “current lack of progress of the Undercover Policing Inquiry and the granting of…
Read More » -
May- 2018 -17 May
House of Fraser landlord anger nullified by stock exchange rules
House of Fraser’s relations with a range of stakeholders worsened today after several landlords expressed anger at proposed rent reductions as part of an ongoing CVA plan. Landlords are said to be peeved by the request for rent reduction after fresh investment by Hamley’s owner C.banner. Several landlords told media…
Read More » -
4 May
1,000 jobs at risk after Calvetron enters administration
Over 1,000 jobs are on the line after fashion retailer Calvetron entered administration. The company behind Windsmoor and Jacques Vert was rescued last summer with a deal that resulted in the loss of over 700 jobs. The fashion retailer acquired a £12.5m loan from Secure Trust Bank to try and…
Read More » -
3 May
Hugo Boss reports ‘good start to 2018’ with Q1 sales growth
Hugo Boss has reported a “good start to 2018” in which it saw currency adjusted group sales up 5% to €650m (£572m). Hugo Boss in the three months to 31 March achieved strong sales growth in online (43%), Asia(11%) and Europe (4%). In Great Britain and the Benelux countries, it…
Read More » -
2 May
Clothing retailers ban mohair following PETA investigation
Clothing retailers Arcadia Group, H&M and Inditex have banned the use of mohair in their products following a PETA investigation that found workers in farms mutilating and slowly killing goats. The animal charity believes that events at the farms are “violations” of South Africa’s Animal Protection Act, 1962. Yvonne Taylor,…
Read More »
