A round up of the best fashion business stories from the weekend’s newspapers.
- JJB Sports is this week expected to announce £70m losses for the year to January, as new chief executive Keith Jones sets out his turnaround plans, reported the Mail on Sunday. Jones will assure investors that the World Cup and the 2012 Olympic Games in London will reverse the fortunes of the group, the Sunday Express reported.
- Sir Philip Green spoke to The Sunday Telegraph about why the government needs to act fast. He said that government spending could be made far more efficient. “The government haven’t even got central procurement. Imagine if I let my 2,500 store managers buy the stock individually. That would be a good idea wouldn’t it?” he joked.
- Rising cotton prices and supply shortages have ended the era of cheap clothing, the Mail on Sunday reported. In the 12 months to April this year prices of clothing and footwear shot up 6.7%, while the RPI rose by 5.3%.
- Marc Jacobs spoke to The Financial Times about the stresses of his role as creative director of Louis Vuitton. He told the paper: “I can sit there the night before a show and think ‘What if they hate it? What if my life is over and I am homeless?’”
- Mamas & Papas is expanding into Greece, The Sun reported. It is opening in Athens next month, insisting the country presents a “long-term opportunity”.
- Ebay users are demanding that the online auction site reviews the protection it offers to buyers. This includes the requirement for the purchaser to pay the cost of returning the item, which is not refunded, if they cannot resolve the issue with the seller, reported the Mail on Sunday.