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Boots has reported an 18.3% decrease in UK profits to £317 million.  The retailer’s parent company is said to be exploring the option of store closures, after putting the profit drops down to intense competition and the highly promotional retail market. The retailer is owned by US company Walgreens Boots Alliance,...

LVMH announced that it is planning to launch Rihanna’s global label in ‘Spring 2019’, and confirmed that the label would be called Fenty. This is in line with past collections that Rihanna has released under the name of her surname, including a lingerie line called Savage x Fenty, a sportswear collection...

Michael Kors has opened a new store concept located inside a six-floor townhouse on Old Bond Street. The store features a simple colour palette of grey, white and brass to signify the brands signature luxury.  It also takes some inspiration from the designer’s homes in New York City and Florida. The first...

eBay has opened a pop-up shop for small businesses to showcases and sell their products in Wolverhampton. The store will be open for a month and is located in Wolverhampton’s i10 building.  The aim for the pop-up is to experiment how physical stores can drive online sales. There will be around 40...

Kering has agreed to €1.25 billion tax payment in order to settle a dispute with Italian tax authorities. Luxury Goods International, a subsidiary of Kering, has been under investigation for avoiding tax on earnings made by Gucci in particular, in Italy between 2011 and 2017. "The group has concluded today a settlement...

Spanish fragrance and fashion group, Puig, has reported a 5% increase in net profits before taxes in 2018, even while experiencing a €2 million slip in group revenues. Pre-tax profit grew 5% to €326 million, which was a new record for the company. Puig controls five fashion houses: Carolina Herrera, Nina Ricci,...

Debenhams is set to launch a turnaround plan that will see the closure of up to 50 stores and rent reductions at the remaining stores. This comes after administrators rejected all of the takeover bids for the struggling retailer. This means that Debenhams is still owned by Celine, which is a consortium...

Select is set to enter administration this week and will likley suggest another company voluntary agreement in bid to prevent the company from collapsing. It has been making a loss after facing growing competition from online retailers, falling consumer confidence and higher business costs. The retailer is owned by Turkish entrepreneur Cafer Mahiroğlu,...

Morrison’s has posted a 2.3% growth in like-for-like sales following a strong performance in the period. In the first 13 weeks to May 5th, total sales excluding fuel where up by 2.4%. The rise marked the fourth consecutive year of first quarter growth, however it still fell below the 3.6% rise in...

German Doner Kebab, which is part of the Hero Brands fast-casual portfolio, has announced plans to expand across North America. Franchises have been signed in Canada’s Ontario and British Columbia provinces and negotiations are underway to open outlets in Manhattan and New Jersey in the USA. The brand expects five stores...