Marks & Spencer has reported a 2.8% drop in Clothing & Home sales in the 12 months to 1 April 2017 as it continues to reduce promotions and clearance sales.
Posted In Around the Web
By Alys Keys at City AM
Premium womenswear chain Karen Millen will raise prices by 5% this year in response to the weakened pound.
But chief executive Beth Butterwick told the Press Association that shoppers will not notice the change as it will only affect the middle of the range rather than the top and bottom ends.
Read the full article at Cityam.com
By Oliver Shah at The Sunday Times
Marks & Spencer is set to report a 3.3% drop in fashion sales, underlining the scale of the challenge facing its new chairman.
Wednesday’s results are expected to confirm a decline in M&S’s annual clothing and homeware sales, despite an improvement over Christmas.
Read the full article at Times.co.uk
By Mark Kleinman at Sky News
The upmarket jeweller Theo Fennell has been forced to call in administrators four years after a takeover by a consortium of high-profile investors.
Sky News has learnt that BDO, the professional services firm, was appointed as administrator to Theo Fennell on Thursday.
Read the full article at News.sky.com
Menswear retailer Moss Bros achieved a 3.7% increase in sales (2.3% like-for-like) in the 15 weeks to 13 May despite a tough trading environment.
Mr Porter managing director Toby Bateman, designer Oliver Spencer and Thread head of business development Terry Betts will be taking part in a panel discussion on the impact of technology on the menswear’s market at London Fashion Week Men’s on 12 June 2017.