Fashion, beauty and home retail giant Next reached a milestone on Wednesday as its shares rose and its market capitalisation topped £10 billion. It also has the opportunity to capitalise on the Debenhams collapse.
PVH's Tommy Hilfiger opened applications for the third edition of its Fashion Frontier Challenge on Wednesday with an aim this year "to amplify and support black, indigenous and people of color entrepreneurs".
Harvey Nichols has promoted its COO to its top job with Manju Malhotra becoming CEO. She now runs the UK and international stores, plus the online business, at the toughest time for luxury retail in decades.
Footfall to UK stores declined by as much as 23.2% last week compared to the week before. The biggest drop was seen in shopping centres that fell nearly 32%, while high streets were down 22%, and retail parks 17%.
As many as 177,000 jobs were lost from UK retail last year, a new study from the Centre for Retail Research (CRR) showed on Friday. That’s up by a quarter on 2019 and CRR's predicting another 200,000 to be lost in 2021.
Primark’s owner ended 2020 on a low note “in the light of [the] announcements by the UK and Ireland governments regarding increased restrictions", with it upping the amount of lost sales it expects to £650m
British lawmakers approved Prime Minister Boris Johnson’s post-Brexit trade deal with the EU on Wednesday, as both sides looked to begin a new chapter of relations just days before their divorce becomes a reality.
Lockdown measures are being extended in England due to the surging rates of coronavirus infection. And it means that more than three quarters of the country will be in Tier 4, with almost the rest of it in Tier 3.