There's a new frontrunner in the race to buy Topshop, Topman and Miss Selfridge with Asos being suggested as the lead contender on Saturday evening, which could mean the chances of saving any stores are slim.
The beauty conglomerate has announced the promotion of Stéphane Delbos, senior vice president for transformation, indirect and procurement operations, to the role of chief procurement officer, effective February 1, 2021.
The Japanese beauty giant confirmed on Friday that it is in negotiations with CVC to sell the investment fund its consumer personal care business, the value of which is reported to be over $1.45 billion.
‘Vaccination no shot in the arm for UK consumer confidence’ is Friday’s telling headline from GfK’s economic reading for January that reflects a less optimistic view from a population stuck in winter lockdown.
The company seen as the frontrunner to win the Topshop auction surprised observers late on Thursday as it emerged Next had pulled out of bidding for the most valuable name in the Arcadia basket of brands.
Selfridges weathered the 2020 storm, despite enduring the toughest retail year in decades. That’s according to company chief Anne Pitcher who admitted that it was the “most difficult” period in its 113 years.
Richemont’s third quarter — the all-important three months to the end of December — saw sales rising only 1%, although currency-neutral, they were up a healthier 5%, despite the “continuously volatile environment”.
Burberry saw another round of retail sales falls in Q3, with Europe and the Americas still being hit hard. But it said China, Korea, leathergoods, outerwear and full-price sales all headed in the right direction.