Newspaper retail round-up

A round-up of retail stories in the newspapers this week… Austin Reed, Abercrombie & Fitch, French Connection

Austin Reed targets younger customers

Austin Reed has recruited entrepreneur James Hibbert, who runs tailoring company Dress2kill, as development director with a mission to attract younger shoppers.

From the Financial Times

George Davies invests more in GIVe retail chain

George Davies, the man behind the success of Next and George, has had to put an extra £9m into the company behind his GIVe retail venture. Auditor Grant Thornton said that group liabilities exceeded assets by £1.4m in accounts for parent company S’Porter.

From The Sunday Telegraph

French bakery Paul plans UK expansion

Patisserie and bakery outlet Paul plans to open 50 new shops in Britain in the next four years. It has just appointed James Fleming as its new UK chief executive.

From The Independent

Majestic sees profits fizz

Majestic Wines has posted profits up 20% to £7.3m for the six months to 27 September. The company says that it is benefitting from the trend for people to entertain at home.

Lingerie chain Gilly Hicks scheduled for UK

Abercrombie & Fitch is to open its first international shop for lingerie chain Gilly Hicks in the UK. The brand competes with Victoria’s Secret, which is also opening in the UK.

From The Guardian

French Connection seeing rise in wholesale revenue

French Connection says that own-store sales of its autumn range fell 6.1% in the 15 weeks to 13 November but wholesale sales through other stores rose by 13%.

From The Times

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