Mike Ashley’s Frasers Group has described the business relief package announced earlier this week by the government as “near worthless” support for bigger businesses. Chancellor Rishi Sunak announced Wednesday the 100 percent business rates holiday would be extended until June, after which a discounted […]

Nordstrom, Inc. reported earnings per diluted share for the fourth quarter of 21 cents, which reflected an income tax benefit related to the CARES Act. The company said, net sales decreased 20 percent, which improved sequentially by 600 basis points relative to the third quarter, after adjusting for […]

British fashion e-tailer In The Style is reportedly planning to float later this month on AIM, a sub-market of the London Stock Exchange. The Manchester-based e-tailer intends to float on March 17, according to a release seen by The Industry.Fashion. Founder and CEO Adam Frisby said the decision marked […]

In 2020, the Hermès group’s consolidated revenue reached 6,389 million euros, a 6 percent decrease at constant exchange and 7 percent at current exchange rates. The company said, revenue returned to growth in the second half, with an acceleration in the 4th quarter of 16 percent. The revenue generated […]

In 2020, Moncler recorded revenues of 1,440.4 million euros, a decrease of 11 percent at constant exchange and of 12 percent at current exchange rates. In the fourth quarter, the company said in a statement, despite the persistence of the negative effects of the measures undertaken to contain the pandemic, […]

Total revenue generated by Kering’s Houses in 2020 amounted to 12,676.6 million euros, down 17.6 percent reported and 16.5 percent on a comparable basis. The company said in a statement that while the health crisis and lockdown measures took a heavy toll on the Houses’ first-half sales (down 30.2 percent), […]

UK’s department stores chain Debenhams will shut downs its doors for good after 242 years a high street staple. Market experts analyse what has gone wrong with the British retailer. Boohoo’s acquisition of Debehams’ brand out of administration marks the end of an era, that of the department store chain […]

Clarks has reported an 8 percent drop in sales for the year ended February 2020, prior to the full force of the pandemic reaching the UK. The British footwear retailer saw revenue drop to 725.3 million pounds for the year, compared to 790 million pounds in 2019, which it said reflected “continued difficult […]