The best of the fashion business related headlines from the weekend newspapers...
The board of Woolworths, the high street chain facing a takeover bid from retail entrepreneur Malcolm Walker, is to revamp its executive pay scheme following a slump in its share prices, according to The Sunday Telegraph. Advisers to Woolworths said that chairman Richard North is concerned that senior managers at the company are not being given sufficient incentive to turn the business around.
The Independent on Sunday said that analysts predicted profits at French Connection, which will report its results this week, are likely to be flat for the first half of the year. Sanjay Vidyarthi, analyst at Dresdner Kleinwort told the newspaper: "We think French Connection is fixable but maintain that the scale of recovery is formidable in the current environment. We think management will be issuing another cautious statement."
Leading figures from the international fashion scene will meet this week to resolve a clash between shows in London and New York, according to The Observer newspaper. The heads of the designer councils of New York, London, Milan and Paris will discuss plans by the Council of Fashion Designers of America to push its collections preview back from next February so that some of its days overlap with those of London Fashion Week. The shift is aimed at giving New York designers more time to complete their collections.