From around the web and the nationals
ARCADIA pre-tax profits are set to drop by a third following the sales slump caused by last year’s harsh winter. Profits in the year to August 28 are set to slump by more than £70m to £140m in results to be unveiled on Thursday, according to The Sunday Times.
KPMG is advising more than a dozen high street retailers, including Peacocks, on restructuring their business, according to Financial Mail. Peacocks has informed its suppliers that it intends to restructure in the New Year.
MARKS & SPENCER has said customers have returned a number of bags including a £25 metallic shoulderbag , a Per Una clutchbag and a croc-skin print shopper due to undesirable smells emanating from linings and other parts. A M&S spokesman told The Daily Mail, “we encourage customers to return the product to our stores to enable us to investigate”.
CONSUMERS are being advised to withhold spending during the heavily advertised “Black Friday” sales week as the fragile economy will ensure that prices continue to fall right up until Christmas, The Telegraph reports.
JACK WILLS, the youth fashion brand is set to open two stores in Hong Kong, according to the Financial Times. The stores will act as a springboard for further Chinese growth and is the preferred option to a public listing.
SIR PAUL SMITH will receive The British Fashion Awards’ Outstanding Achievement in Fashion Design next month, reports The Sunday Telegraph.
PANTHERELLA, the 74-year old British-made luxury socks brand, has won the international development category at the Midlands Family Business Awards. The gong recognises family businesses which have successfully launched their brand abroad over the past two years.
THE UK GIFT CARD AND VOUCHER ASSOCIATION said online vouchers have been worth £160m a year to its members. Use of digital gift cards has become popular with a surge in smart phone use and as more shoppers go online to buy presents. Some retailers offer digital gift cards delivered over email and text which can be redeemed using a smartphone.
SANDRO, the French fashion label, will launch its first menswear concession in Selfridges London today. The concession will feature 60 square meters of signature looks from Sandro Homme on the department store’s Contemporary floor. The brand (pictured) uses slim cut 60s Mod-style suiting, eveningwear paired with rugged parkas and tailoring mismatched with denim and luxe fabrics such as cashmere, fine cottons and distressed denims.
KACHING!, a mobile POS system that works off “the cloud”, rather than an in-store system to process and track sales launches this week. The portable device, which offers cash management and trading statements accessed through wifi or 3G, is looking to appeal to pop-up shops and large retailers wanting to reduce queues.