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Daily Round Up: Peacocks; Westwood, Jaques Vert, BCC, Coach, The British Fashion Council

peacocks

From around the web and the nationals

PEACOCKS, the value clothing retailer, is in talks with investment bank Goldman Sachs, which looks set to take control of the value chain. The Independent reports that the US investment bank is expected to become the majority shareholder as part of discussions to reduce Peacocks £240m debt pile.

GEORGE OSBORNE, the chancellor, will unveil credit easing schemes to release up to £40bn in loans to small firms when he delivers Tuesday’s autumn statement, reports the BBC.

DAME VIVIENNE WESTWOOD is donating £1m to fight climate change having expressed frustration that money pledged by the government three years ago has yet to be distributed, according to the Telegraph. She’s urging donations to the charity Cool Earth and intends to secure funding from the fashion industry. 

JACQUES VERT, the mainstream womenswear retail group, has warned on profits after unseasonably warm weather and weak consumer confidence took its toll. The retail said sales in the first 29 weeks of the current financial year were 0.8% ahead of the previous year in total, but down 0.3% like-for-like.

THE BRITISH CHAMBERS OF COMMERCE has cut its forecast for UK economic growth for the fourth time this year, according to the BBC. It is now forecasting growth of 0.9% this year and 0.8% in 2012, and said growth will be “very weak” for the next two to three quarters. Two months back, the organisation expected growth at 1.1% for 2011 and 2.1% for 2012.

COACH, the US luxury leather goods business, will list shares in Hong Kong on Thursday. The company will retain its primary stock listing in New York.

NIKE is continuing its collaboration with Madrid footballer Cristiano Ronaldo. The CR7 collection, inspired by Ronaldo, comprises Mercurial Superfly III and Nike5 Street Gato football boots, t-shirts, a vest, a hooded zip-up jumper, a jacket, a polo shirt, chinos, shorts and football socks.

US RETAILERS saw a record Thanksgiving weekend with sales rising by 16% to $52.4bn (£33.66) and the average shopper spending $398.62 (£256) compared with $365.34 (£234) this time last year the National Retail Federation said. The number of shoppers rose to a record 226m.

JOHN LEWIS sales were down by 1.2% in the seven days to Saturday as unseasonably warm weather continues to affect sales. However, week-on-week, sales shot up 15.9% to £98.7m. Non-clothing sales including china, table decorations and Christmas trees, as well as lighting, bedding and linens all saw “strong” sales uplifts.

THE BRITISH FASHION COUNCIL has added the category, New Establishment Award, to its British Fashion Awards, taking place this evening. The category will recognise new designers bringing innovation to the luxury market. This year’s nominees are Christopher Kane, Erdem and Jonathan Saunders.

 

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