A round up of the best fashion business stories from the weekend’s newspapers
Value fashion chain Primark is taking on 10 BHS leases as Sir Philip Green looks to trim down the department store’s portfolio. The stores, including those in Harrogate and Guildford, will close over the next 12 months, according to the Sunday Times.
The Independent on Sunday reported that Burberry, which updates the market tomorrow, is expected to reveal a crash in sales despite a like-for-like sales increase of 3.5% in its retail division in its third quarter.
The Sunday Telegraph reported that Matalan founder John Hargreaves is likely to accept offers in the region of £1.2bn for the value retail chain, despite insisting he can achieve the much publicised £1.5bn figure.
New Look, Supergroup, Matalan
Around £5bn of retail deals are on the table as New Look, Supergroup and Matalan compete with non-fashion chains Pets at Home and Ocado for investment, according to the Mail on Sunday.