Author: Dave Antrobus
As the festive shopping season approaches, fashion businesses must prepare their stores and staff for peak trading.A key focus is enhancing communication between headquarters and store associates to improve coordination.Automation of task tracking is essential to save time and reduce errors during busy periods.Equipping store staff with the right resources can significantly enhance their performance and customer service.Effective visual merchandising is crucial to draw in customers and boost sales during this peak period.With the festive shopping season on the horizon, fashion retailers are urged to fortify their stores and teams for the impending peak trading period. The importance of physical…
Frasers Group has reported a £12.5 million loss following the acquisition of Matches earlier this year.Despite a rise in adjusted profit, the group experienced a significant dip in overall profits and operating income.The acquisition, aimed at boosting the group’s ‘elevation strategy’, resulted in substantial trading losses.Further financial support for Matches was deemed non-viable by the group, leading to its administration.The brand name and intellectual assets were later acquired for £20 million to offset some losses.Frasers Group, the retail conglomerate, has announced a £12.5 million loss after acquiring Matches, a decision which contributed to a 20.5% decrease in profit before tax,…
Club L London elevates Richard Wing to CFO amidst global expansion.Wing, previously a group finance director, steps up to CFO after joining in 2022.Under his leadership, the brand aims to launch two new market websites this year.The company shows impressive growth with a 96.87% CAGR, marking it as a fast-growing entity.Wing’s vision focuses on sustainable, profitable growth and innovation.Club L London, a prominent womenswear brand, has strategically promoted Richard Wing to the pivotal role of Chief Financial Officer (CFO) to steer its ambitious global expansion. This transition marks a significant development in the company’s journey, as Wing brings a wealth…
Adidas has once again raised its profit expectations for 2024.The guidance now anticipates an operating profit of €1bn (£840m) by year end.This marks a significant increase from the initial €500m (£427m) forecast.Second-quarter revenues witnessed a 9% growth, reaching €5.8bn (£4.9bn).The decision follows a notable €50m (£42m) gain from Yeezy inventory sales.Adidas, the German sportswear powerhouse, has elevated its full-year operating profit forecast to €1 billion (£840 million) for 2024, marking the second upward revision this year. This adjustment comes on the back of better-than-expected performance in the first half of the year, indicating robust financial health and strategic efficiency within…
Sosandar is set to open physical stores in Marlow and Chelmsford this autumn, marking its entry into brick-and-mortar retail.The fashion brand reported a 9% rise in revenue to £46.3m, despite a £300,000 loss before tax for FY24.The shift in strategy includes a reduction in price promotions to focus on margin growth, resulting in a profitable second half.Sosandar plans to expand to 50 stores in five years, enhancing its presence in premium retail locations.Third-party partnerships remain strong, with successful international ventures providing a positive outlook.Sosandar is poised to launch its first physical stores in Marlow and Chelmsford this September, a strategic…
Burberry faces a CEO change as Jonathan Akeroyd steps down amidst financial struggles.The company’s revenue dropped by 22% to £458m in the first quarter.Share prices plummeted by 16%, reaching a 14-year low.Industry reactions suggest the leadership change is unsurprising given recent performances.Joshua Schulman, with extensive experience, steps in as the new CEO with immediate effect.Burberry has announced a strategic leadership transition as Jonathan Akeroyd steps down as CEO, following a significant 22% decline in revenue to £458 million for the 13 weeks ending 29 June. This unexpected departure comes amidst financial turmoil, with share prices dropping by 16% to their…
Spanish fashion retailer Mango has achieved its highest half-year revenue in history, exceeding €1.5bn as of June 2024.The revenue milestone marks a 6.3% growth compared to the same period in the previous year, driven by international sales.Mango’s womenswear division remains dominant, contributing 79% of total revenue, with menswear showing the highest growth in the period.The retailer has significantly expanded its global footprint, adding 57 new stores, aiming for 2,800 stores by year-end.CEO Toni Ruiz highlights the performance as the best in Mango’s 40-year history, emphasising the brand’s commitment to its value proposition.Mango, the prominent Spanish fashion retailer, has reported a…
Represent, a renown British streetwear brand, is marking its presence locally by opening its inaugural UK store.The store is strategically situated at Unit 2 New Cathedral Street, nestled between notable brands Canada Goose and Paul Smith.Founded by George and Mike Heaton in 2011, Represent has built a global reach with over 150 stockists, including high-end names like Selfridges and Harrods.Prior expansions saw the brand opening its first physical location in Los Angeles and a planned future site in London.Creative director George Heaton expressed excitement and pride in establishing a store in the brand’s hometown, emphasising its significance.Represent, a prominent name…
June’s retail sales increased by 3.2% year-on-year, marking a recovery.Online sales showed significant growth, up by 9.8%, bolstering retail figures.In-store fashion sales declined by 6.7%, contrasting other sectors.Lifestyle and homeware sectors recorded growth of 7.5% and 3%, respectively.The government’s new plan aims to revitalise struggling high streets.June saw a notable 3.2% increase in retail sales compared to the same month the previous year. This marks the most significant sales growth since August 2023, as reported by BDO’s High Street Sales Tracker. This positive trend follows a difficult period of five consecutive months of negative results, highlighting a shift in consumer…
Mulberry announces Andrea Baldo as the new CEO, succeeding Thierry Andretta.Baldo previously led Ganni, expanding its global footprint and gaining B Corp certification.The leadership change aims to leverage Baldo’s expertise in international fashion management.Chris Roberts praises Baldo’s strategic vision for sustainable growth in Mulberry’s next chapter.The transition is effective immediately, highlighting the brand’s forward-looking strategy.British luxury brand Mulberry has named Andrea Baldo as its new chief executive officer. This pivotal decision marks the conclusion of Thierry Andretta’s tenure. The appointment, announced on 9 July 2024, is effective immediately, with Baldo set to officially join the board on 1 September 2024.Andrea…
