H&M is hit by rise in costs of materials September 29, 2010 SWEDISH fashion group Hennes & Mauritz (H&M) said profit margins weakened in its third quarter, as costs rose. While H&M boosted profit by 20 per cent thanks to popular sales campaigns and its wide geographical spread, analysts worried about how the world’s third biggest clothing retailer – behind Gap and Inditex – will cope with [...]
Moss Bros in office suit push September 29, 2010 MENSWEAR retailer Moss Bros is hoping demand for suits from office workers will help it narrow full-year losses. Moss Bros made a pre-tax loss of £3.3m for the six months to 31 July versus a loss of £3m in the same period last year, as costs increased faster than sales. However, revenue rose 7.9 per [...]
Topps Tiles back on track after bleak summer sales September 29, 2010 TILE and wood flooring retailer Topps Tiles said yesterday full-year underlying profit would be within the range of analyst expectations following a pick-up in fourth-quarter sales growth. Topps Tiles, which trades from over 300 stores, said sales at stores for open over a year rose about four per cent in the last quarter of its [...]
Domino’s given boost as online revenues shoot up September 29, 2010 DOMINO’S Pizza said yesterday its online sales have surged by 69 per cent – mainly due to its new iPhone app. The chain said overall same-store sales rose 9.9 per cent in the 13 weeks to last Sunday taking its sales growth for the year to 12.5 per cent. Including new stores, total sales rose [...]
H&M September 29, 2010 H&M is a company built for recession. You can splurge on outfits for under a tenner, and it specialises in fast throwaway fashion – stocking the latest look, but making it cheap enough to ensure you return for more when it’s no longer in trend. Investors have lapped up this apparently slump-proof stock – sending [...]
Forever 21 in UK launch September 29, 2010 US fashion retailer Forever 21 is opening stores in Birmingham and Dublin in November as it tries to break into the European market for the first time. The retailer will take on around 550 staff for the launch. The company, which aims to sell designer-styles at cheaper prices has its flagship store in New York’s [...]
Theo Fennell dismisses VAT rise September 29, 2010 Jeweller Theo Fennell said yesterday January’s VAT rise is not a worry as most of its affluent customers are from overseas and not liable for the tax. Chairman Rupert Hambro said the business had performed well over the last six months, while both its flagship Fulham Road and City stores have been upgraded. The company’s [...]
New chief for jeweller Signet September 29, 2010 Jewellery giant Signet has appointed the president of watch brand Fossil as its new chief executive. Mike Barnes will replace Terry Burman, who is retiring next January after ten years at the helm of the Anglo-American company, which owns H Samuel and Ernest Jones in the UK. Barnes joins on 1 December and will be [...]
SAINSBURY’S OPENS BIGGEST EVER STORE September 29, 2010 Sainsbury’s, headed by Justin King (inset), yesterday opened its largest store under plans to increase its UK floorspace. The supermarket, in Crayford, near Dartford, is more than 100,000 square feet, and will dedicate half its space to food and drink products. The retailer also opened its largest store in Scotland at Darnley, which is 90,000 [...]
Nintendo 3DS not ready in time for Xmas September 29, 2010 NINTENDO has failed in its bid to rush its new 3DS handheld games console out in time for Christmas. The Japanese firm announced yesterday the device, which claims to create a 3D effect without the need for glasses, will be released in February in its home country and March in Europe and the US. The [...]