Retailers
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May- 2019 -22 May
Watches of Switzerland seeks £660m valuation in London IPO
Watches of Switzerland said it is seeking a market capitalisation of up to £660m in its upcoming London public listing. According to reports the retailer intends to sell shares in a range of 250-277p as it seeks to pay off some of its debts. The retailer is now focusing on…
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22 May
Online retail sales see subdued growth in April
Online retail sales saw sales growth of just 5.2% year-on-year (YoY) in April, according to the latest IMRG Capgemini eRetail Sales Index. The group said this compares “poorly” to the strong performance seen in April of last year (+12.5%), but continued an ongoing trend of subdued growth seen since the…
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20 May
Richemont Group sales jump 27% in 2018
The Richemont Group, which owns Cartier, IWC and Jaeger-LeCoultre, has reported a 27% increase in group sales to €13,989m (£12,261m) for the year ending 31 March 2019. Excluding Yoox Net-A-Porter and Watchfinder, sales rose by 8% at actual and constant exchange rates, and the brand saw growth in all business…
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15 May
Ora Pearls launches new store in Chelsea
Ora Pearls has opened its first store in Chelsea located at 304A Fulham Road, London. The “elegant store” design and interiors have been created to reflect the brand’s identity as a fashion-focused modern approach to pearls. Ora Pearls was founded by pearl expert and designer, Bibi Southwell. Southwell personally selects…
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13 May
High street footfall drops 2.9% in April
Footfall fell by 2.9% year-on-year in April, quieter than the forecast of -0.3%, according to the latest Ipsos Retail Performance Retail Traffic Index. Footfall over the Easter fortnight was 8.5% lower than last year, despite falling three weeks later this year. However, when compared with March, average weekly footfall was…
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13 May
Swarovski launches new design initiative with Central Saint Martins
Swarovski has launched its inaugural Conscious Design programme in collaboration with Central Saint Martins, UAL. Swarovski’s Conscious Design initiative is focused on how the company can “inspire others to spark positive change in the world” by motivating the next generation of designers to create their products and collections responsibly, and…
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9 May
Pandora posts ‘weak’ Q1 results
Jewellery retailer Pandora has reported “weak” financial results for the first quarter of 2019, impacted by the commercial reset initiated as part of its ‘Programme NOW’. Total like-for-like sales-out growth (like-for-like) was -10%, driven by lower traffic in physical stores, and online like-for-like sales was 7%. Organic growth ended at…
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8 May
Retail sales ‘below expectation’ in April
Retail sales fell below expectations in April, despite a total sales increase of 4.1% against the decrease of 3.1% the previous year, according to the latest BRC-KPMG Retail Sales Monitor. This was due to figures being “distorted” by the timing of the run-up to Easter, which was in April this…
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Apr- 2019 -26 April
Debenhams to close 22 stores with 1,200 jobs at risk
Department store chain, Debenhams has announced it is to close 22 stores putting 1,200 jobs at risk. The closures come as part of a revival plan for the department store laid out by lenders including Barclays and Bank of Ireland. Terry Duddy, Debenhams executive chairman, said: “Debenhams has a clear…
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25 April
74,400 retail jobs lost in first three months of 2019
The retail sector saw a 2.4% year-on-year drop in the number of employees in the first quarter of this year, equating to a loss of 74,400 jobs. According to the British Retail Consortium (BRC), this is a higher reduction than the 2.2% drop seen in 2018. The trade organisation said…
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