The best of the fashion business headlines from the weekend papers…
According to The Mail on Sunday, school uniform sales at Tesco are up 20% this summer against last year. The big three supermarkets, Tesco, Sainsbury’s and Asda, have been flexing their muscles to gain ground from clothing retailers in the fierce back to school uniform race by offering cheaper prices and quality promises this summer.
The world’s second largest luxury goods group, Hermès trimmed its 2009 investment budget for the second time this year after missing profit forecasts for the first six months to June 30, according to The Financial Times. The Paris-based maker of handbags and ready-to-wear fashion said wholesale sales fell 22% over the period.