A round up of the best fashion business stories from the weekend’s newspapers.
- Uniqlo posted a 50.2% rise in sales to £48.5m for the 12 months to August 31, according to accounts filed at Companies House, the Saturday Independent reported. UK losses were also halved to £5.4m over the period, better than the previous year’s £11.6 deficit.
- John Joakim, key shareholder in Sadie Frost and Jemima French’s fashion venture FrostFrench, is understood to want to put his 28% stake up for sale to concentrate on his new north London fashion store Louie Louie, the Mail on Sunday reported.
- Tesco and Sainsbury are likely to confirm that sales across the supermarket sector have slowed markedly when they release trading updates this week, the Sunday Telegraph reported. Tesco is expected to announce like-for-like sales over its first quarter rose between 0 and 1.5% and Sainsbury’s equivalent figure is expected to be between 0.5% and 1%.
- UK retail sales will be boosted by £987m if England reach the last 16 in the World Cup, estimated by the Centre for Retail Research, the FT Weekend reported. This is expected to rise to £2.1bn if England get to the final.