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 — For some UK retailers, selling clothing is going out of fashion.
Department-store chain Debenhams Plc reported an unexpected rise in Christmas-period revenue, besting results from rivals Marks & Spencer Group Plc and Next Plc and sending its shares up by as much as 18 percent. Departing Chief Executive Officer Michael Sharp attributed the result to a reduced dependency on clothing sales, which have been hurt by Britons’ growing tendency to spend their disposable income on their homes.
The London-based retailer’s “very strong” quarter demonstrates the breadth of its product offer, James Collins, an analyst at Stifel, said in a note. About 55 percent of the company’s sales came outside of fashion, in categories such as homewares and beauty, up from about 52 percent a year ago, he said.
By Sam Chambers; editors: Matthew Boyle, Paul Jarvis.
The Japanese apparel chain will be launching its sister brand GU in the US later this year, targeting younger consumers with lower prices and a curated selection of trendy wares.
Canada, France and Ireland are among the countries working with home-grown fashion talent to create uniforms for their teams at this summer’s Olympic Games. For these small labels, it’s an unprecedented opportunity to capitalise on one of sports’ largest events.
The online fashion retailer plans to update China’s securities regulator on the change of the initial public offering venue and file with the London Stock Exchange as soon as this month, a person with knowledge of the matter said.
The company, under siege from Arkhouse Management Co. and Brigade Capital Management, doesn’t need the activists when it can be its own, writes Andrea Felsted.