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ABG to buy Ted Baker for £211m, will restructure firm and target US growth

ABG to buy Ted Baker for £211m, will restructure firm and target US growth

​Ted Baker and Authentic Brands Group announced on August 16 that ABG will be buying the British fashion retailer for an agreed price of around £211m ($254m). It will mean a major push into North America for the label.
Fashion
Joules names Jonathon Brown as new CEO

Joules names Jonathon Brown as new CEO

​Lifestyle retailer Joules said it has found a new CEO to replace Nick Jones. Jonathon Brown will join on 7 September 2022 and will take over fully at the end of next month “following a short handover period”.
Fashion
Starboard slashes stake in Kohl's after seeking to buy it in January

Starboard slashes stake in Kohl's after seeking to buy it in January

Activist hedge fund Starboard Value, which had offered to buy Kohl's Corp for roughly $9bn early this year, slashed its stake in the department store by more than 80% in Q2, according to a regulatory filing.
Fashion
Tophsop founder and ex-Debenhams chief Halpern dies

Tophsop founder and ex-Debenhams chief Halpern dies

​British retail titan Sir Ralph Halpern has died at the age of 83. The executive, who launched the Topshop chain and once ran Debenhams, was one of the highest-profile retailers during the Thatcher era in the 1980s.
Fashion
Primark creates customer chief role, names Michelle McEttrick to post

Primark creates customer chief role, names Michelle McEttrick to post

​Primark has named Michelle McEttrick to the new Chief Customer Officer role, “to develop the Primark brand and customer strategy as the business continues its expansion across new markets, channels and products”.
Fashion
Most US consumers reluctant to spend due to inflation, but still buying office-wear

Most US consumers reluctant to spend due to inflation, but still buying office-wear

Around four out of five consumers (80 per cent) in the US say that they are less confident about spending, while 62 per cent of them believe that the county is currently experiencing a recession.
Fashion
Walmart's long-lasting challenge: luring budget shoppers back to its stores

Walmart's long-lasting challenge: luring budget shoppers back to its stores

Walmart Inc could face an uphill battle to reclaim U.S. shoppers who opted for the neighborhood dollar store or Aldi rather than driving farther to a Walmart Supercenter when gasoline was $5 a gallon.
Fashion
UK shoppers surprisingly ready to spend during heatwave, fashion stays strong

UK shoppers surprisingly ready to spend during heatwave, fashion stays strong

Hot weather drove Britons to buy summer fashion, as well as outdoor goods, in July. But they also reined-in spending on foreign travel and eating out as the cost-of-living squeeze made itself felt, two surveys show.
Fashion
Shopify merchant growth falters as weak consumer spending hits businesses

Shopify merchant growth falters as weak consumer spending hits businesses

​Businesses stung by rising costs and lower consumer spending are shying away from Shopify's platform, creating a roadblock in its plan to fix past missteps in overestimating e-commerce demand.
Fashion
Abercrombie & Fitch reveals new "getaway-inspired" store design concept

Abercrombie & Fitch reveals new "getaway-inspired" store design concept

​Abercrombie & Fitch on August 8 announced a “refreshing new store experience inspired by the brand’s intention of making every day feel as exceptional as the start of a long weekend”. 
Fashion
Next in talks to buy 25% stake in troubled Joules

Next in talks to buy 25% stake in troubled Joules

​Next has been busy buying up stakes in both strong and struggling businesses and the latest example of the latter is Joules, at least according to a news report.
Fashion
India's DLF mulls auction bid for New Delhi mall with base price of $366m - sources

India's DLF mulls auction bid for New Delhi mall with base price of $366m - sources

India's biggest real estate developer DLF is evaluating a bid for a prominent New Delhi shopping mall that has a starting auction price of $366 million, according to two sources and a public notice seen by Reuters.
Fashion
Walmart cuts jobs at corporate level - report

Walmart cuts jobs at corporate level - report

​Walmart Inc is cutting hundreds of corporate roles in a restructuring effort, the Wall Street Journal reported on August 3, citing people familiar with the matter.
Fashion
UK retailer Next lifts outlook on strong clothing demand

UK retailer Next lifts outlook on strong clothing demand

​Retailer Next, a mainstay of Britain's shopping streets, defied the economic gloom on Thursday to lift its full-year sales and profit forecasts after warm weather in June and July spurred better-than-expected trade.
Fashion
Eurozone retail sales drop more than expected in June as prices rise

Eurozone retail sales drop more than expected in June as prices rise

Euro zone retail sales plunged more than expected in June as prices at factory gates continued to rise, data showed Wednesday, signalling a weakness in consumer demand that could herald a recession in H2.
Fashion
India’s export orders 20% lower due to recession, brands’ sales down

India’s export orders 20% lower due to recession, brands’ sales down

Global recession is knocking at the doors of Indian textile industry. The impact of recession is clearly visible on new orders received by Indian exporters.
Fashion