The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
LONDON, United Kingdom — Britain's John Lewis Partnership said sales at its department store chain could decline by around 35 percent over the full year in a worst case scenario due to the coronavirus crisis, it said on Tuesday.
The employee-owned group, which also owns the Waitrose supermarket business, said sales at John Lewis were down 17 percent year-on-year since the middle of March and down 7 percent since 26 January. Waitrose sales are up 8 percent since January 26.
The company, which has shut all its department stores in the national lockdown, said it had seen a surge in online demand but said many of the most sought after items were in less profitable lines. "We are buying more Scrabble but fewer sofas," it said.
By Kate Holton; editor: James Davey.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.