John Lewis Partnership sales fell in the latest week with a 1.9% drop taking them just below £207m. But while the supermarkets operation sales edged up slightly, the John Lewis department stores weren't so strong.
Shoppers may not be in the mood for lavish spending at the moment, but the retail sector is being “propped up” by spending on the part of international tourists. And luxury fashion is a key beneficiary of this.
Laura Ashley may have made a loss in the last year but its fashion ops powered ahead and proved to be the most successful part of the business. The company also has a new deal to help it expand in China.
Hong Kong is on the verge of its first recession in a decade as increasingly violent anti-government protests scare off tourists and bite into retail sales in one of the world's most popular shopping destinations.
Macy’s cut its full-year earnings forecast on Wednesday after missing estimates for quarterly profit for the first time in at least two years, as it discounted merchandise heavily to clear spring inventory.
Steinhoff said on Wednesday it had refinanced some 9 billion euros of debt in its overseas operations which include Poundland in Britain and France's Conforama, after pushing the deadline date back repeatedly.
South African retailer Steinhoff said on Tuesday its only hope for survival is to sell off assets to become a retail-focused investment holding firm, as it fights to contain the fallout of a $7 billion accounting fraud.
Lifestyle retailer White Stuff’s results showed the company has returned to sales growth for the 2018/19 financial year. But its investments to drive that growth dented its profits with a sharp decline.
Groupe GM, a French specialist in the hotel welcome kit sector, is broadening its horizons, opening new overseas markets to further bolster its global presence following its entry in Hong Kong in 2018.
Global shopping malls giant Unibail-Rodamco-Westfield has reported solid results, but its UK operations (the London Westfield malls) suffered from the same problems we heard about at rivals Hammerson and Intu this week.