Two leading property industry trade bodies, the British Property Federation (BPF) and British Council of Shopping Centres (BCSC) are following in the footsteps of the Confederation of British Industry and urging the government to significantly overhaul the current business rates system. In a joint statement, […]

London - Hudson’s Bay, the owner of US retailer Saks Fifth Avenue, is buying Germany’s biggest department store chain, Galeria Kaufhof for 2.82 billion euros including certain liabilities, according to a statement from Metro, the current owner of Kaufhof. Toronto-based Hudson’s Bay, which operates its […]

According to an agreement between garment makers and the Southern African Clothing & Textile Workers’ Union (SACTWU), South African garment workers will receive a pay hike from September 1, the industry's due date for annual wage increases. This means that in metro areas like Durban, Cape Town, Johannesburg […]

The business rates system must be reformed in order to boost growth and investment, according to the Confederation of British Industry, the UK’s leading business group. The organisation is calling for an overhaul of the “decades-old” business rates model, which it claims is the most damaging to retailers […]

After five years, Richemont Group has seen its investment in Net-a-Porter bear fruit. The online luxury fashion platform has posted a pre-tax profit of 11 million pounds in the year to March, 31 from a 9.7 million pounds loss last year. The Net-a-Porter group said revenues had risen 22.8 percent to […]

REPORT The H&M Group’s sales including VAT increased by 10 percent in local currencies in May 2015 compared to the same month the previous year. Sales in May have been negatively affected by calendar effects of approximately 3 percentage points. In the second quarter of 2015, from March 1 to May 31, […]

REPORT Bonmarché, one of the UK’s women’s value retailers, reported its preliminary results for the year ended March 28, 2015. Group profit before tax was 12.4 million pounds (19.2 million dollars), an increase of 55.3 percent on last year’s statutory figure, or 10.4 percent on an underlying basis. […]

REPORT Ted Baker announced a 24.2 percent increase in group revenue for the 18 week period from February 1, 2015 to June 6, 2015, compared to the same period last year. Retail sales for the period increased by 18.9 percent or 18.1 percent in constant currency) and average. Retail square footage rose […]

REPORT Cherokee Global Brands, for the first quarter fiscal 2016 ended May 2, 2015 said the revenues increased approximately 3 percent to 10.2 million dollars, compared with 10 million dollars in the prior-year period. The increase in revenues was principally due to increased sales from Cherokee-branded […]

REPORT Mulberry Group, for the year ended March 31, 2015 said that the company’s total revenues were 148.7 million pounds (229.5 million dollars), down 9 percent from 163.5 million pounds (252.5 million dollars) last year, reflecting a small growth in retail sales which was offset by a decline in wholesale […]

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