Reiss boosts sales on the back of international expansion January 16, 2017 Reiss, the high-end fashion retailer favoured by the Duchess of Cambridge, reported a robust sales increase over Christmas. In the six weeks to 7 January, sales growth in the UK was 11.6 per cent, which the company said was "driven by like-for-like growth and e-commerce". Read more: Reiss rocks the high street after doubling full-year [...]
Palamon buys a majority stake in colourful Swedish retailer Happy Socks January 16, 2017 Palamon Capital Partners today announced its acquisition of a majority stake in Happy Socks, a leading whimsical sock designer. The European growth investor's transaction valued the Swedish sock company at SEK 725m (£67.1m), with SEK 40m of growth capital to be injected to support the continued expansion of the business, leading to a SEK 765m enterprise value. [...]
Brexit vote boosts Hugo Boss January 16, 2017 Hugo Boss has staged a partial recovery thanks to a sales boost in Britain and China. The German fashion house said its operating profit for 2016 will fall less than expected due to a 20 per cent increase in like-for-like sales in China in the fourth quarter, and a two per cent increase in Europe, which was [...]
Burberry confirmed its new chief executive Marco Gobbetti is set to head the company from July January 16, 2017 Burberry today confirmed Marco Gobbetti is set to become the boss of the company this summer as part of the company's ongoing restructuring drive. Gobbetti is slated to join the luxury brand as executive chairman of Asia Pacific and Middle East on 27 January until 4 July. From 5 July, he will join the board and take on his role [...]
UK high street celebrates first December rise in footfall for five years January 16, 2017 The UK high street has benefited from the first December rise in footfall for five years. Footfall increased 0.8 per cent year-on-year in December, according to figures from Springboard and the British Retail Consortium, as consumers sought some festive cheer on the high street. Read more: Debenhams share price jumps as it reveals sales hike [...]
Better Capital boss Jon Moulton on Brexit, his firm’s exit and why he still hasn’t forgiven Liam Fox January 16, 2017 Bald, bold and bespectacled, private equity veteran Jon Moulton has had more than his fair share of knocks as well as high points during a long career. He was branded the Christmas Scrooge in December 2014 when City Link collapsed into administration leaving nearly 2,700 jobs at risk. “We made a very bad decision to [...]
Latest ONS data expected to show inflation at 1.5 per cent January 15, 2017 Data released by the Office for National Statistics this week is likely to show an uptick in inflation, a sign that the fall in the value of the pound is having an impact on prices. An inflation rate of 1.5 per cent in the consumer prices index for December would be a significant increase on [...]
Burberry leads another week of key retail updates January 15, 2017 British fashion house Burberry is widely expected to report an uplift in sales this week after the fall in the value of the pound made its products more attractive to foreign buyers. Burberry posts its third quarter trading update on Wednesday, and Barclays analysts have predicted the company will announce a like-for-like sales increase of two per [...]
London’s Burlington Arcade is for sale January 15, 2017 London's iconic covered shopping gallery the Burlington Arcade has gone on sale. The arcade, which was established in 1819, links Piccadilly and Bond Street and is home of high-end brands such as Manolo Blahnik and Chanel. Industry sources said it would sell for around £400m. Read more: Central London take ups surge on the back of [...]
Why banks could actually prove a less stressful part of your portfolio January 13, 2017 Market consensus tells us the banking sector remains a risky place for investors to put their money. After all, the prevailing wisdom runs, banks are cyclical, poorly capitalised and in lousy shape for the next downturn, as and when it comes. Of course, as contrarian investors, we believe market consensus and prevailing wisdom primarily [...]