Suit hire sales boost Moss Bros March 30, 2011 FORMAL menswear retailer Moss Bros has narrowed its full-year underlying losses thanks to a record result in its suit hire division. The firm posted an underlying loss of £2.7m for 2010, compared to £3.9m a year earlier, after like-for-like sales rose by nine per cent. But its full-year pre-tax loss widened to £7.5m from a [...]
Moss Bros narrows loss March 30, 2011 Suit retailer Moss Bros has posted a second full-year loss but reduced it to £2.7m from £3.9m in 2009 as sales rose almost ten per cent in 2010. The suit sale and hire specialist saw underlying group revenues rise six per cent in the year, to £136.4m while like for like sales rose 9.1 per [...]
Wolseley says it will restart its dividend March 29, 2011 Wolseley, the world’s largest plumbing and building merchant, yesterday showed it was confident of growing in patchy construction markets by reinstating its payout to shareholders. The company said although markets have broadly stabilised it faced fragile economies in several regions and pressure from competitors to cut prices. “The group expects to continue to grow in [...]
SVG halves stake in retailer New Look February 14, 2011 NEW LOOK’S private equity owners have slashed the value of their stake in the retail chain after tough high street conditions caused a fall in sales, according to figures. Investment group SVG Capital – an investor in New Look through buyout group Permira, which owns a 27.7 per cent stake in the retailer – revealed [...]
SVG sees asset value soar February 14, 2011 Private equity firm SVG Capital’s net asset value soared by almost 42 per cent in 2010, it said. The net asset value per share rose from 222.9p to 315.9p and shareholders’ funds grew 51 per cent to 298.9p a share. The share price was up 66 per cent over the period as net asset value [...]
Moss Bros in Boss sell-off February 7, 2011 MOSS BROS yesterday sold its 15 Hugo Boss outlets in a move to concentrate more on its own brands. The £16.5m deal sees Hugo Boss taking back the stores, two of which are in the City. Moss Bros, which also trades as Savoy Taylors Guild and Cecil Gee, has run Hugo Boss stores under franchise [...]
Moss Bros sells Hugo Boss franchise February 7, 2011 Moss Bros today agreed to sell its 15-strong Hugo Boss franchise stores back to the fashion giant for £16.5m in order to concentrate on its own brands. Moss has held the franchise since 1995, with stores selling include Regent Street, Bond Street, Brent Cross and two in the City. Chief executive Brian Brick said that [...]
FASHION NEWS December 16, 2010 DUNHILL’S NEW DIGITAL COOL Alfred Dunhill has launched a new app called Day 8, a content hotspot for “images, articles and film housed within an online interface”, giving the Dunhill view of the world by showing the best of luxury and aesthetic taste. www.dunhill.com HUGO BOSS WRIT LARGE IN DUBAI Hugo Boss’s prominence in the [...]
FASHION NEWS IN BRIEF November 5, 2010 TIFFANY COMES TO THE WHARF Canary Wharf workers are in for a treat, with the opening of a Tiffany & Co. boutique at Cabot Place. Set to open on 12 Nov, the store – London’s ninth – will be in the Cabot Place East mall and occupy 2,000 square feet. To celebrate, Tiffany will be [...]
EX-SEYMOUR PIERCE BOSS TO LAUNCH NEW ADVISORY VENTURE November 1, 2010 A FEW short months ago, this column brought you murmurs that corporate financier Richard Feigen – who resigned as managing director of broker Seymour Pierce at the beginning of the year after an internal investigation, admitting that errors had occurred in a transaction he was overseeing – was mulling a return to the City. Fast [...]