One clear trend from London Fashion Week? The tourist tax is failing retail February 21, 2024 London's fashion scene is envied globally, but getting rid of tax-free shopping is an own goal for our retail sector, writes Dee Corsi.
Burberry shares climb as group clings onto profit during pandemic November 12, 2020 Burberry shares climbed almost four per cent at market open this morning as the luxury retailer announced it had clung onto profit during the coronavirus crisis. The results The pandemic dealt a heavy blow for Burberry, with revenue sinking 31 per cent in the 26 weeks to 26 September, as the fashion retailer was forced [...]
Scrap tourist tax before it’s too late, Fortnum & Mason boss warns November 20, 2023 The UK will lose retail sales to France if the government fails to scrap the tourist tax in the autumn statement, the boss of Fortnum & Mason has warned.
Chancellor ‘misses a trick’ by not re-introducing tax-free shopping for overseas tourists November 17, 2022 West End business leaders have slammed the Chancellor for not changing his mind on an introduction of VAT free shopping for overseas tourists. Despite calls from luxury retailers this month, Jeremy Hunt made no mention of the prospect of introducing tax-free shopping for overseas visitors making trips to London’s shopping heartlands. Last month, Hunt announced [...]
WPP appoints former Burberry chief June 11, 2020 Media giant WPP has appointed the former chief executive of Burberry and ex-head of retail at Apple to its board. Angela Ahrendts will become a non-executive board member at WPP after ending a five-year run as one of the most senior figures at Apple. Ahrendts led British fashion brand Burberry from 2006 to 2013, during [...]
Selfridges losses narrow amid calls for return to VAT-free shopping October 11, 2023 The net loss for the year was £38.9m a stark improvement from an £83.9m dip it posted in the same period last year.
Blackstone: New York asset manager splurges on luxury London West End space April 11, 2024 New York-based asset manager Blackstone has paid £230m for a 31,000 sq ft retail space on the affluent New Bond Street strip in the West-End.
Most shorted companies revealed: Petrofac takes top spot February 12, 2024 Seven investment firms held short positions in Petrofac, with Helikon Investments Limited holding the largest position at 3.5 per cent.
Burberry shares sink as it warns of ‘continued coronavirus impact’ July 15, 2020 Burberry shares sank more than seven per cent this morning as sales slumped 45 per cent during lockdown and the group warned that it will “take time” to recover from the severe impact of coronavirus. The British fashion staple said it sees no immediate end in sight to dented sales, as the pandemic continues to [...]
Retail sales crash 3.2 per cent in December as struggling high street hits Covid-era low January 19, 2024 UK retail sales plummeted 3.2 per cent in December, well below analyst expectations and the largest monthly fall since January 2021 when coronavirus restrictions pushed down sales. Analysts had expected sales to fall by 0.5 per cent in the last month of the year, but a significant drop in both food and non-food store sales [...]