France
This coverage focuses on retail developments in France that are relevant to UK retail professionals, highlighting market trends, store openings and closures, cross-border strategies, leadership moves, and regulatory changes. Reporting provides insights into how French retail dynamics influence and intersect with UK businesses, supporting managers and executives monitoring international opportunities and challenges.
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Nov- 2024 -5 NovemberNews-In-Brief
Today’s news in brief-5/11/24
Primark’s profits surged by 51% to £1.1bn in FY24, as its parent company, Associated British Foods, credited a significant rise in profitability and returns amid ongoing investment efforts. Total group sales grew by 6% to £9.4bn, despite summer fashion sales being dampened by poor weather in H2. Notably, Primark reported…
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5 NovemberClothing & Shoes
Primark profits rise by 51% to £1.1bn in FY24
Primark has seen its operating profits soar by 51% to £1.1bn in the year ended 14 September 2024, as the group hailed a “substantial” improvement in profitability and strong returns amid ongoing investment. Associated British Foods reported that sales for the group rose by 6% to £9.4bn over the year,…
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1 NovemberComment
From side hustle to global costume leader – The story of Fraser Smeaton’s costume empire
In 2009, Fraser Smeaton, CEO and co-founder of MorphCostumes, saw an unusual potential in what seemed like an ordinary moment. While walking the streets of Dublin with a friend sporting a bright blue spandex suit, he noticed that people couldn’t help but stop and stare, with many even approaching to…
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Oct- 2024 -29 OctoberNews-In-Brief
Today’s news in brief-29/10/24
The British Retail Consortium (BRC) has urged the chancellor to prioritise keeping prices low as shop price deflation reached 0.8% in October, marking its lowest rate since August 2021. Food inflation also eased, with fresh food and ambient food prices falling. BRC’s CEO Helen Dickinson stressed that although this trend…
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29 OctoberClothing & Shoes
Dr Martens owner acquires stake in K-Way
Permira Growth Opportunities II, a fund advised by global investment firm and owner of Dr Martens Permira, has entered into an agreement to acquire a significant minority stake in K-Way, a premium French outerwear brand, from BasicNet SpA, led by the Boglione family. Founded in 1965 in Paris, K-Way has…
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25 OctoberClothing & Shoes
Vinted eyes expansion beyond clothes amid €340m secondary share sale
Vinted has closed a secondary share sale of €340m (£283.5m) at a valuation of €5bn (£4.17bn) and is now looking to expand beyond clothes. In recent weeks, Vinted has begun the roll-out of a new category for electronics. The transaction, led by TPG, a leading global alternative asset manager, “validates…
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Sep- 2024 -17 SeptemberDIY
Kingfisher HY profits improve despite weak sales
B&Q owner Kingfisher has revealed that its statutory pre-tax profits rose 2.3% to £324m for the six months ended 31 July 2024, up from £317m in the same period last year. The performance comes despite the fact the company’s sales fell 1.8% to £6.8bn, down from £6.9bn. Like-for-like sales in…
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6 SeptemberNews
La Redoute appoints new CEO
La Redoute has announced the appointment of Fabien Versavau as chief executive officer, effective from 9 September. In his new role, he will be responsible for defining the company’s strategic roadmap and overseeing its operations, particularly supporting growth in France and internationally, strengthening the home segment, and optimising performance. Versavau…
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5 September
Today’s news in brief-5/9/24
Asos has sold a majority stake in Topshop and Topman to Heartland, a move valued at £135m. Heartland, owned by Bestseller, will acquire a 75% stake while Asos retains 25%. The deal includes rights for Asos to continue marketing the brands online under a new joint venture, aiming to streamline…
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5 SeptemberClothing & Shoes
Primark UK sales drop amid weak footfall and bad weather
Primark’s parent company, Associated British Foods (ABF), expects like-for-like sales for Primark UK to fall by around 2% in the second half of the year, with total sales to be around 0.5% lower. This follows a like-for-like decline of 0.6% in the third quarter, which is projected to drop further…
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