It’s going to be a tougher-than-expected Christmas trading period, if one report is to be believed. UK shoppers are likely to spend 22% less on non-essentials in the festive run-up and other markets will see drops too.
Roger Blundell is to step down as chief finance officer at Grosvenor before the end of the year with Debbie Lee promoted to take over as CFO from January 2023. However, he will move into non-executive and advisory roles.
Frasers is doubling down on its efforts to get MySale shareholders to accept its buyout offer as it also says it’s on the verge of owning more than half of the firm’s shares, even though it’s still well below its target.
With LFW’s celebratory angle having been on hold due to the death of the Queen in September, the British Fashion Council has now unveiled a “city-wide celebration” that’s set to kick off on 6 October.
Seamm, a start-up digitising fashion goods for virtual worlds, has raised $1.7 million in funding “to scale go-to-market activities, attract and hire top talent, and accelerate the development of its platform”.
Are You Mad. No, that’s not a question but the name of Shaftesbury’s latest consumer-facing effort to promote sustainability. The London property giant has opened its first visible recycling unit on Carnaby Street.
Browns has closed its much-talked-about Browns East branch in Shoreditch with the retailer saying the branch had originally been planned as a pop-up in 2017, but “was so successful that we stayed the course for longer”.
Next is one of the most successful UK fashion retailers, so when it downgrades profit guidance that it only upgraded last month, you know the sector as a whole is facing tough times. And that’s what it did Thursday.