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Austin Reed departs from the British high street

Tuesday 31 May 2016 - Posted by Talya Misiri

Austin Reed has announced the closure of its 120 store estate after falling into administration in April. The menswear retailer’s entire physical portforlio along with 1,000 employees will cease trading by the end of June 2016. While no viable buyers expressed their interest in Austin Reed’s high street estate, the 116 year old brand has been acquired by Edinburgh Woolen Mill. The company will ...

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MPs to interrogate Retail Acquisitions advisers over BHS

Tuesday 31 May 2016 - Posted by Talya Misiri

As inquiries into the demise of the British department store chain BHS continues, MPs are to call upon advisers and property moguls who had an involvement in Dominic Chappell's occupation of the business. On their return from recess, the parliamentary committees are likely to summon Guy & Alexander Dellal who lead Alied Commercial Experts (Ace) which supplied Chappell with £35m to prove to Arca...

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The Hut Group adds a competitor to its portfolio

Tuesday 31 May 2016 - Posted by Talya Misiri

Online health and beauty owner The Hut Group has acquired one of its competitors Salu Beauty ahead of its anticipated flotation in 2017, according to the times. The newly purchased business is a high end US and Australian retailer that trades under www.skincarestore.com.au and www.skinstore.com from Walgreens Boots Alliance. Salu Beauty will join The Hut Group's multiple specialist trading plat...

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Online returns enough to fill "forty premier league football pitches"

Tuesday 31 May 2016 - Posted by Talya Misiri

New findings into online shopping habits has revealed that "serial returners" are accountable for hiking clothing prices. Almost two thirds of shoppers who purchased women's clothing online in the last six months returned at least one item, according to a study by Savvy Marketing for BBC Radio 4. The study questioned over 1,000 shoppers and found that 63% sent women's clothing back in the perio...

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Halfords sales get back on track

Tuesday 31 May 2016 - Posted by Talya Misiri

Prior to the announcement of Halfords' full year results this week, the bicycle and car parts retailer has noted that bike sales have returned to growth. Halfords revealed two consecutive quarters of like-for-like bike sales growth, with a 1.9% incline in the final quarter of the year. Full year revenue is expected to show a slight drop from £81.1m to £79.9m year on year. Profits are evident in...

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Tensions build as the CMA investigates Sainsbury's Home Retail takeover

Monday 30 May 2016 - Posted by Talya Misiri

The Competition and Markets Authority (CMA) has notified Home Retail Group and Sainsbury's that it will be launching an inquiry into the planned takeover. The first stage of the investigation will involve a consideration of comments concerning the deal over the next two weeks. The CMA must decide by 25 July whether a full assessment is necessary. The inquiry is like to delay the completion of S...

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BHS rescue bid nears completion

Friday 27 May 2016 - Posted by Talya Misiri

The bid for BHS by former Burton and Mothercare Managing Director Greg Tufnell is close to completion. Part of the sale proceeds have been secured by the retail veteran alongside Swiss Banker Nick de Scossa and entrepreneur José Bento, according to the Guardian. Ongoing talks regarding the deal will continue until next Monday. An announcement of the result is likely to be made half way through ...

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MPs reject Mike Ashley's warehouse invitation

Friday 27 May 2016 - Posted by Talya Misiri

MPs have rejected Mike Ashley's invitation to visit the retailer's main Shirebrook warehouse prior to his appearance before the committee on 7 June. The Sports Direct Boss has threatened to pull out and is looking for legal advice about his scheduled meeting with the parliamentary select committee. Chairman of the House of Commons Business select committee Iain Wright informed Ashley in a lette...

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The "new energy of Kenzo" to arrive at H&M

Friday 27 May 2016 - Posted by Talya Misiri

Fast-fashion retailer H&M has revealed that its next exclusive fashion collaboration will be with Parisian fashion brand Kenzo. The fashion brand famous for its bold, bright colours and vivid prints will be creating collections for both men and women at H&M. “We can’t wait to share with everyone the world of KENZO x H&M, with all of its creativity, fun and love of fashion,” said Ann-Sofie Johan...

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Consumer Confidence continues to fall among Brexit uncertainties

Friday 27 May 2016 - Posted by Talya Misiri

UK consumer confidence has continued to fall in May, despite an increase of two points from last month. GfK's Consumer Confidence Index showed that the overarching category rose to -1. The Index also recorded an unchanged score of 7 when it came to forecasting personal finances over the next 12 months, however expectations for the general economic situation over the next year rose by a point to...

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