A round up of the best fashion business stories from the weekend’s newspapers.
- Kurt Geiger will more than double its number of overseas outlets in the next five years, taking the total to 50, The Sunday Times reported. The retailer is expanding into Russia, Turkey and Malaysia via joint venture partners in each territory.
- JJB Sports has been fined £455,000 by the FSA for breaching disclosure and transparency rules in relation to an apparent breach of its banking covenants in the run-up to its interim results in 2008, the Daily Telegraph reported. Those results were accompanied by a “going concern” warning by Deloitte & Touche, JJB’s auditor.
- Shoppers will feel the full force of January’s VAT rise, but can expect to pick up many bargains this Christmas, according to Marks & Spencer outgoing chairman Sir Stuart Rose, the Sunday Express reported. Speaking at the opening of One New Change, the Square Mile’s first major shopping mall, he warned: “Retailers will have to pass [the VAT rise] on.”