Deloitte, the appointed administrators of fashion retailers Bank, have revealed that 35 members of staff at the retailers head office in Bury, Lancashire have been made redundant, after the fashion retailer went into administration on January 5, 2015. The head office redundancies are the first to be […]

Swedish fashion giant H&M is listed among the 37 firms which have been 'named and shamed' by the government for failing to pay hundreds of UK staff the national minimum wage. The list is said to be the biggest group of firms caught by the Department for Business, Innovation and Skills. H&M was exposed […]

REPORT The H&M Group’s sales including VAT increased by 15 percent in local currencies in December 2014 compared to the same month the previous year. The total number of stores amounted to 3,537 on December 31, 2014 versus 3,176 on December 31, 2013. The full-year report, covering the period December […]

REPORT Primark, a part of Associated British Foods, during the 16 weeks to January 3, 2015 reported sales 15 percent ahead of last year at constant currency driven by increased retail selling space and very high sales densities in stores opened during the last year, with exceptional trading from the […]

REPORT In its trading update for the third quarter ended December 31, 2014, Richemont said that its sales in the quarter were flat at constant exchange rates; and increased at 4 percent at actual rates. In Asia Pacific, the decline in sales reflected an unfavourable basis of comparison and a difficult […]

The Florida-based company is reportedly working with the accounting and consulting firm Richter to prepare to enter bankruptcy. Body Central, which said earlier this week that it was facing “significant liquidity challenges,” received a notice of default on 18 million dollars in debt and is assessing […]

Tuesday witnessed another myriad of quarterly and Christmas trading updates, with the likes of Asos and Debenhams leading the pack. Record sales in the week before Christmas helped Debenhams avoid another disastrous festive season, although the retailer’s shares tumbled as it warned of falling profit […]

SuperGroup said a strong performance over the peak Christmas period saw total retail sales for the 11-week period from 26 October 2014 to 10 January 2015 increase by 17.8 percent. Like-for-like sales grew by 12.4 percent against softer comparatives than the first half. Although all channels and geographies […]

REPORT At 604 million pounds (915.8 million dollars), Burberry’s retail revenue in the third quarter increased by 15 percent underlying and 14 percent at reported FX. Comparable sales growth was 8 percent. By region, there was double-digit percentage comparable sales growth in the Americas and EMEIA. […]

Hong Kong has overtaken traditional big investors like Japan, Singapore and Taiwan and secured second place after South Korea when it comes to investments in Vietnam in 2014 according to the Vietnamese Foreign Investment Agency (FIA). Most of these investments have gone into the textile and apparel […]

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