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Chanel endures tough 2020 but recovery is on track

Chanel endures tough 2020 but recovery is on track

Chanel expects to be riding high again this year after a tough 2020, with sales forecast to rise in double-digits. That’s according to the company’s CFO on Tuesday after it released its pandemic-hit 2020 figures. 
Luxury
H&M Group sales rise in Q2, but pandemic restrictions are still an issue

H&M Group sales rise in Q2, but pandemic restrictions are still an issue

​H&M Group’s net sales rose as much as 75% in local currencies during Q2 (the March to May period), although given the strengthening Swedish Krona, its revenues translated into ‘only’ a 62% rise on a total basis.
Fashion
Boohoo sales surge in Q1, but some markets are challenged

Boohoo sales surge in Q1, but some markets are challenged

Boohoo’s trading update on Tuesday showed that the pureplay e-tailer continued to prosper in Q1, even after UK physical stores reopened in April, although there were challenges in some markets and margins were squeezed.
Fashion
​UK weekly footfall suffers as shopper numbers dip

​UK weekly footfall suffers as shopper numbers dip

Footfall across all UK retail destinations couldn’t maintain some impressive gains made at the start of the month, falling 6.7% week-on-week in the seven days spanning 6-12 June, latest Springboard data shows. 
Fashion
Ted Baker hit hard by lockdowns but is now "in a much stronger place"

Ted Baker hit hard by lockdowns but is now "in a much stronger place"

​Ted Baker’s twice-delayed full-year results looked grim on Monday as the fashion retailer announced a 44%+ drop in revenue and a pre-tax loss that widened by almost 39%. But its CEO was upbeat about its prospects.
Fashion
Fear factors prevent UK shoppers from buying online from EU, says study

Fear factors prevent UK shoppers from buying online from EU, says study

Fakes, delays, customs and foreign languages. These are the biggest fears preventing UK e-commerce consumers making cross-border purchases from the EU, according to a new report commissioned by Weglot.
Fashion
John Lewis improves employee support programme, extending parental leave

John Lewis improves employee support programme, extending parental leave

John Lewis Partnership, the UK’s largest employee-owned retailer, has improved its support package for working families and young people leaving the care system.
Fashion
​Gee joins Grosvenor Group, set to become chair of its Britain & Ireland board

​Gee joins Grosvenor Group, set to become chair of its Britain & Ireland board

Grosvenor Group has appointed Melanie Gee, initially as a non-executive director, with a view to her becoming chair of the Grosvenor Britain & Ireland (GBI) board. She is set to succeed Jonathon Bond from September.
Fashion
Klarna raises new finance, value approaches $46bn

Klarna raises new finance, value approaches $46bn

​Buy-now-pay-later (BNPL) giant Klarna has raised new capital in a deal that not only values it at a massive $45.6bn but gives it a valuation as much as $14bn higher than its last fundraising round as recently as March.
Fashion
Cult Beauty sales surge as it gains new customers in UK, Europe

Cult Beauty sales surge as it gains new customers in UK, Europe

​Beauty e-tailer Cult Beauty has filed its full-year results for the 12 months to May 31 2020 and they show that it enjoyed what it called “another great year”, despite the pandemic affecting over two months in the year.
Beauty
Selfridges owners reportedly mull sale with £4bn price tag

Selfridges owners reportedly mull sale with £4bn price tag

​Selfridges is reportedly up for sale — or at least its owners are exploring their options — after a mystery buyer approached the business with an offer, reports claimed on Friday.
Luxury
RangeMe sourcing platform launches in UK

RangeMe sourcing platform launches in UK

​Sourcing platform RangeMe has launched in the UK. It offers retailers instant access to over 200,000 suppliers and more than 750,000 products from around the world, with beauty being one of its big categories.
Beauty
Large number of Oxford Street units are empty - report

Large number of Oxford Street units are empty - report

Some 17% of Oxford Street’s properties are currently standing empty, it was claimed on Thursday, with the reason being about the rise of online shopping as well as the pandemic.
Fashion
Lockdown end means UK online sales drop, but fashion is still on a high

Lockdown end means UK online sales drop, but fashion is still on a high

​Online sales in the UK fell 9.1% year-on-year last month, although this was against a 61% increase in May 2020. And even with the fall, spend remain strong with sales volumes rising 46% compared to May 2019.
Fashion
Former Sports Direct exec Forsey is MD of Revolution Beauty

Former Sports Direct exec Forsey is MD of Revolution Beauty

​Former Sports Direct boss Dave Forsey, 55, has become managing director of fast-growing Revolution Beauty, five years after he left the sports retailer that he’d joined at the age of 18.
Beauty
Inditex recovery under way in Q1, latest quarter starts strongly

Inditex recovery under way in Q1, latest quarter starts strongly

​Inditex bounced back with a vengeance in Q1 with the Spanish fashion retail giant reporting higher profits and saying its sales grew 50% year-on-year. Sales in Q2 so far have also exceeded those of Q2 2019.
Fashion