A round up of the best fashion business stories from the weekend’s newspapers.
- Sir Stuart Rose is expected to reveal that Marks & Spencer’s fourth quarter like-for-like sales have risen by 1.7% this week, according to the Sunday Express. Analysts expect the focus to be on the retailer’s food sales following pressure from rivals such as Waitrose, the paper said.
- The Times reported that fast fashion retailer Uniqlo may target India and Brazil if its expansion into Russia is successful. Uniqlo opened its first Russian outlet in Moscow on Friday and aims to open ten stores over the next three years.
- The £350 million sale of Net-a-Porter to Swiss luxury goods group Richemont has created about a dozen millionaires, according to The Sunday Times. The luxury online retailer’s founder Natalie Massenet made about £50 million from her 18% stake. Turnover at the group was £81.5 million last year.
- The BBC has cleared its flagship current affairs programme Panorama of faking a key scene in Bangalore during a documentary about primark“>Primark, said The Guardian. However, the editorial complaints unit did criticise the programme makers for inaccuracies in the scene.
- Collapsed Icelandic bank Kaupthing has rejected £2.3 billion in compensation claims by former client and retail entrepreneurs Robert and Vincent Tchenguiz. The brothers are expected to take their battle through the Icelandic and UK courts, said The Sunday Telegraph.