Newspaper retail round up

Catch up with what the national newspapers had to say about retail in the past few days; Abercrombie & Fitch, USC, Blacks Leisure, M&S, B&Q, Read more…

Pixie Geldof to front USC

Pixie Geldof is to be the new face of fashion chain USC, owned by Sir Tom Hunter. Hunter plans to relaunch womenswear at the chain with two new own-brand labels, Abandon and Miss Soviet in October.

Blacks Leisure may jettison O’Neill’s chain

Black’s Leisure is set to reveal the final stage of a restructure that could see the group jettison the O’Neill boardwear chain

From The Sunday Times

Abercrombie & Fitch under fire for discrimination

Abercrombie & Fitch is accused of discriminating against a US Muslim teenager. The US government says the 18-year-old was denied a sales job because her headscarf violated the retailer’s ‘look policy’

From The Guardian

M&S warned about internal candidate to succeed Rose

Investors have warned Marks & Spencer that it could risk further tensions with shareholders if it chose an internal candidate to succeed Sir Stuart Rose as chief executive.

B&Q boss slams return of standard VAT

Kingfisher boss Ian Cheshire criticises the timing of the planned return to 17.5% VAT on 1 January calling it ‘spectacularly inconvenient’ for retailers. The B&Q owner announced a 40% profit hike in interim results.

French Connection suffers effects of discounting

French Connection announced plans to close stores and cut back on advertising after suffering the effects of discounting, a fall in sterling and failures at retailers that stocked its clothing.

August sales slump

August sales were hit by poor summer weather as official figures showed total sales were flat during the month.

Figleaves founder returns

Michael Ross, the founder of online underwear retailer, is back with a new venture. The company aims to help high street retailers build an online presence.

From The Financial Times

Karen Millen may buy back Fashion chain

It has emerged that Aurora Fashions, the Kaupthing owned fashion group that formed after Baugur fell into administration last year, may split. Karen Millen, founder of the fashion chain says she would consider buying back the chain. Debenhams has also shown interest in buying one or more of the group’s businesses, which include Coast, Warehouse and Oasis.

Oddbins predicts a return to profits

Wine seller Oddbins is predicting a return to profitability in 2010 after the business was sold to by Castel to Simon Baile. Baile has instigated a restructure and a review of the companies stock, which has cut losses by 75%.

From the Daily Mail

Spar cashes in on local shoppers

Convenience chain Spar reported total sales were up 8.1% against a 5.2% rise like-for-like sales in the three months to July, cashing in on consumers buying last-minute treats.

From The Telegraph



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