Faith news and archive

Financial performance Debenhams

Department store Debenhams increased its gross transaction period over the 42 weeks to 19th June by 8.9% compared with the previous year including Magasin du Nord (“Magasin”) and by 1.1% excluding Magasin. Like-for-like sales decreased by 0.4% over the 42 weeks. and continued to be impacted by c.1.5% by increasing the penetration of own bought...

Fashion

Faith shoes in administration

Faith shoes, the 78-store footwear chain have collapsed into administration. As one of Britain's largest footwear companies, more than 1,700 jobs are at risk. Faith, which also has 120 concessions, mainly in Debenhams, failed to achieve a solvent sale and appointed the accountancy firm Mazars as administrator, reported the Independent. Heath...

Fashion

Faith Shoes focus online

Faith Shoes are the latest high street name to use MetaPack to manage their online delivery. With more and more brick and mortar retailers going multichannel and capturing a piece of the growing online market, they are now starting to discover that they require more automated and intelligent processes in order to manage their fulfilment. With...

Fashion

Trade Bids Unlikely For Faith

Footwear chain Faith is unlikely to attract interest from trade bidders, according to industry sources, after it emerged owner Jonathon Faith was looking for around GBP50 million for the business. Rival retailers said the price was inflated and footwear players were unlikely to get involved in a bidding war with private equity groups. Last May,...

Fashion

Faith Profits Up

Fashion footwear multiple Faith reported profits up 23.8 per cent to GBP 2.6m for the year ended June 29, 2002. Turnover was up 4 per cent to GBP 38m. The last of its Topshop concessions will close in August 2004. Profits and turnover are not expected to be hit until year-end June 2003 and June 2004.