A round up of the best fashion business stories from the weekend’s newspapers.
- Next’s online and catalogue Directory business is expected to have provided a welcome boost to sales when the fashion chain issues its latest quarterly trading statement this week, the Mail on Sunday reported. Directory sales could be as high as 5% above the same period last year. City forecasts for the full-year put profits at between £525m and £565m, the Scotsman reported.
- Young fashion brand Fly 53 is getting ready to land in 10 of Britain’s biggest cities, including Bristol and Leeds, the Independent on Sunday reported. Fly 53, which is backed by Key Capital Partners, employs 40 people, has 290 wholesale stockists and sells in House of Fraser.
- PPR chairman and chief executive François-Henri Pinault said the huge profit hike reported last week by the luxury goods group had lead to “significant signs of interest” in the retail businesses it had put up for sale, which include the Redcats catalogue group. The Financial Times covered the story.
- US department store Saks Fifth Avenue will stock plus-sized womenswear by working with well-known designers who have created autumn 10 pieces up to a US size 16 or 18 (a UK 20 or 22) in some of their branches, the Independent reported. Cutting-edge designers such as Chanel, Dolce & Gabbana, Fendi and Yves Saint Laurent are rumoured to be involved in the project.
- John Lewis’ chief Andy Street talked about expansion plans and why Scottish shoppers are lagging the UK in the Scotsman. Last week, Street pledged to open a John Lewis department store in Birmingham.