Retail Roundup
A roundup of retail news from the past few days…
Hermes to move into Bond Street
Hermes is to buy to Bond Street store currently occupied by the jeweller Asprey. It is thought the luxury French fashion house has also acquired the ailing jeweller.
No recession at Harvey Nichols
Harvey Nichols has sold a £15,000 handbag y US designer Lana Marks showing that well heeled consumers area still willing to pay above the odds for the ‘it bag’.
George Davies prepares to launch Give
George Davies is set to open the doors of his latest fashion venture Give this week, on the same day as rival Marks and Spencer publishes second quarter results. Davies has invested £20m of his own money into the venture.
Who will replace Rose at M&S?
The Observer draws up a list of potential contenders Sir Stuart Rose’s M&S throne. The list includes: Morrisons chief executive Marc Bolland, Asda chief executive Andy Bond, Sainsbury’s chief exec, Justin King, Jaeger chief executive Belinda Earl, and John Lewis chief executive Charlie Mayfield, Charles Wilson, Booker chief exec as well as internal candidates, Kate Bostock who heads up general merchandise at the retailer, John Dixon, director of food and current finance director Ian Dyson.
From The Observer
M&S cuts returns deadline to 35 days
Marks and Spencer has reneged on its long-standing policy of offering a 90-day return period for unwanted goods. The retailer has cut its generous returns period to 35 days.
The retailer is also expected to report a 15% fall in like for like sales on Wednesday and a decline in market share of its food business.
NearLondon to launch before Christmas
NearLondon, the 3D virtual representation of London’s West End shopping district is set to launch in November, in time for a virtual Christmas. Shoppers can walk down the virtual streets and browse the stores online. John Lewis, Marks and Spencer and Liberty have all signed up to the online retail world.
From The Times
New Look planning to float
Fashion retailer New Look is said to be planning a £1.7bn-plus stock market float. The company, which is backed by private equity firms Permira and Apax, could list on the stock market as early as January.
The Sunday telegraph
Tesco in bra wars
Tesco is to double the size of its lingerie range Diamond Boutique in a bid to take market share away from Marks and Spencer which holds 26% of the market.
From The Sunday Times
Low-alcohol wines on the way for Christmas
Supermarkets are looking to stock a wider range of low-alcohol wines in the run-up to the festive season in response to growing consumer demand and increasing health concerns about drinking.
Jessops secures deal with HSBC
Jessops the UK’s biggest camera retailer has unveiled a deal with HSBC to secure 2,000 jobs but leaves its bank owning almost half of the firm.
From The Guardian
Dunelm increasing its market share
The home furnishings retailer is growing its marketing share at an exponential rate, and plans to grow the chain from 87 to 150, with 12 new stores planned this year. says chief executive Will Adderley
Gap founder dies
Don Fisher the co-founder of Gap has died, 40 years after he and his wife opened the first Gap store in California.
Self Service checkouts to double
Supermarkets are planning to double the number of self checkouts within three years, led by Tesco which increased self service till points by 30% last year.
Borders to cast off Books etc.
Borders is to sell its struggling Books etc chain and revert to a single brand model. Earlier this year the bookseller closed its Oxford Street store along with four other stores following a management buyout in July.
From the Financial Times
