Mike Ashley's retail conglomerate could acquire the distressed Savile Row tailor, Bloomberg reported.

Next said on Wednesday it still expected full price sales for the rest of its 2022-23 year to fall 2 percent and a full-year pretax profit up 2.1 percent to £840 million ($967 million).

“We all owe it to the country, to each other and to Rishi to unite and work together for the good of the nation,” Mordaunt said in a statement on Twitter. The ruling Conservative Party confirmed Sunak, who is due to address rank-and-file MPs at 2:30 p.m., has been elected leader.

UK Chancellor Kwasi Kwarteng’s mini-budget threw the country’s financial markets into a tailspin, and fashion is feeling the effects.

Next, which trades from about 500 stores and online, said it now expected full price sales in its second half of its financial year to fall 1.5 percent, and a full year pretax profit of £840 million ($905 million), up 2.1 percent versus 2021-22.

Riccardo Tisci’s show, which was rescheduled following Queen Elizabeth II’s death, drew an A-list crowd as the brand seeks to launch a new cycle of growth.

Britain will bring back sales tax free shopping for overseas visitors to boost the country’s flagging retail sector, finance minister Kwasi Kwarteng said on Friday.

From Harris Reed to Molly Goddard to JW Anderson, creativity and a growing sense of camaraderie ran through the first three days of London Fashion Week, writes Susanna Lau.