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Daily Round Up: Supergroup; UK Manufacturing; John Lewis; West End Shoppers; ASOS; Victoria Quarter

From around the web and the nationals

SUPERGROUP, the young fashion business, has seen its shares dip below their 2010 flotation price. According to reports, shares in the Superdry and Cult parent company have been hit by a slowdown in sales and a warehouse problem closing at 503p on Friday. On Wednesday (December 14) Supergroup will report its half year results.

UK MANUFACTURING has expressed concern that it could lose position on issues such as deregulation and competitiveness as David Cameron outlined his intentions to protect the City from tighter fiscal or financial arrangements, regulated by Europe. According to reports in The Guardian, trade body, the CBI, is monitoring the situation.

JOHN LEWIS has recorded its largest ever sales week, driven by Christmas shopping and cold weather. The department store chain reported sales in the week to Saturday rose to a record of £123.5m, beating the previous record achieved in the same week last year by 2%. The rise represents an 8.7% increase on last week and a 12.2% rise in sales over the same week in 2009.

TAKINGS in London’s West End fell over the weekend despite a traffic-free promotion designed to entice Christmas shoppers to the area. Shoppers spent around 10% less than last year on Oxford Street and Regent Street, figures from retailer representative New West End Company revealed. Around £180m was spent on Saturday, down from £200m of revenue on the same day in 2010.

ASOS marketing director Claire Dobbie has left the etailer after just under two years into the role, according to reports. Dobbie, who joined Asos from marketing agency Mother in January 2010, was responsible for Asos’s £14.3m marketing budget. It is not known whether she has another job to go to or if she will be replaced.

A BID by German fund manager Deka to buy the Victoria Quarter shopping centre in Leeds has fallen through at the eleventh hour, according to Reuters. The Grade II listed north of England shopping centre had an asking price of £135m and houses 76 stores including designer brands Louis Vuitton and Vivenne Westood, as well as Harvey Nichols. It is not clear why the deal fell through.

FRENCH embroider Francois Lesage who embroidered designs for the likes of Balenciaga, Chanel and Karl Lagerfeld has died aged 82 according to reports in The Independent. Lesage was famed for his high quality embroidery skills and includes the creation of Yves Saint Laurent’s Van Gogh jackets as one of his many achievements. He passed away in Versailles, France on December 1.

 

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