Hong Kong
This coverage explores how developments in Hong Kong affect UK retail, with reporting on supply chain links, brand expansion, political and economic factors, and consumer trends connected to the region. Tailored for retail executives, sourcing managers, and strategists assessing international operations, market opportunities, and risks related to this key global retail hub.
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Feb- 2020 -11 FebruaryDepartment Stores
M&S appoints Eoin Tonge as new CFO
Marks and Spencer has appointed Eoin Tonge as its new chief financial officer. Tonge is currently the CFO of Greencore Group, a position he has held since 2016. Prior to this, he was the managing director of the Grocery Business for two years and was previously the chief strategy officer…
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7 FebruaryLuxury Goods
Burberry warns on sales impact from coronavirus outbreak
Luxury fashion retailer Burberry has warned that its sales for the year ended March 2020 will be impacted by the recent coronavirus outbreak. Burberry said its recent guidance for the current financial year “predates the impact”, and currently 24 of its 64 stores in mainland China are closed with remaining…
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Nov- 2019 -15 NovemberHigh Street
Body Shop profits rise amid ‘remarkable’ UK sales performance
The Body Shop has reported an increase in sales and profits in its third-quarter, due to a “remarkable” performance in its UK market. The ethical beauty retailer reported an 18.7% EBITDA surge to £11.6m, resulting in a 1.1% increase in revenue reaching £173.9m. Natura and Co, the parent company of…
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14 NovemberEconomy
Burberry profits rise despite Hong Kong protests ‘dampening’ sales
Burberry has posted pre-tax profit of £193m for the half-year to 28 September, despite recent protests in Hong Kong dampening its sales. Months of protests in Hong Kong have affected the British retailer, but it still managed to increase adjusted operating profits by 14% in the first half of the…
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Aug- 2019 -13 AugustHigh Street
Dr Martens profits soar in full-year results
Profits and sales at footwear retailer Dr Martens continued to rise last year, EBITDA for the period soared by 70% to £85m for the year ending 31 March. Group revenue increased by 30% to £454.4m, as the company focused on direct to consumer (DTC) channels, which now accounts for 44%…
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May- 2019 -30 MayPeople Moves
Tapestry hires new COO from VF Corporation
Tapestry, the New York-based parent company of fashion brands such as Kate Spade, Stuart Weitzman and Coach, has appointed Thomas A. Glaser as its new COO effective July 15, 2019. Glaser will have responsibility across the end-to-end supply chain and the information technology backbone for Tapestry and its brands with…
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29 MayClothing & Shoes
UPDATE: Reiss owner denies reports of potential sale
The owner of fashion retailer Reiss has called reports of a potential sale of its majority stake in the business as “categorically untrue”. According to The Telegraph Warburg Pincus was considering the appointment of bankers to administer the sale with a formal process expected to start before the summer. However…
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29 MayClothing & Shoes
Reiss owner mulls sale of majority stake
The US private equity firm Warburg Pincus is reportedly mulling over the sale of its majority state in upmarket fashion retailer Reiss. According to The Telegraph Warburg Pincus is considering the appointment of bankers to administer the sale with a formal process expected to start before the summer. Warburg Pincus…
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Apr- 2019 -24 AprilAdvice
Making faux-neon signs work for modern retailers
It’s no secret that bricks and mortar businesses need to do all they can to stand out in the modern retail landscape. But how they achieve this is becoming harder to grasp, as consumer shopping habits and industry trends are increasingly difficult to predict. Supplying innovative and high-quality products is…
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Dec- 2018 -18 DecemberEconomy
HMV’s Hong Kong operations enter liquidation following 41% revenue fall
HMV is to wind up its Hong Kong stores after entering liquidation today (18 December), the company blamed a 41% revenue fall on the previous year along with the “global development of information and economic climate”. The retailer said the company’s insolvency was also to blame for the liquidation along…
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