Former Kingfisher CEO Gerry Murphy to replace Sir John Peace as next Burberry chairman April 13, 2018 Former Kingfisher boss Gerry Murphy will be the next chairman of Burberry. Shares in the FTSE 100 fashion label were up 1.3 per cent just after lunchtime after Burberry confirmed a Sky News report revealing the appointment. Murphy will replace Sir John Peace, who took Burberry onto the stock market as chairman in 2002. He [...]
Consumer sentiment hits eight-month high despite Brexit uncertainty June 1, 2019 UK consumers reported an improvement in their personal finances and more positive outlook for the year ahead in May, according to the monthly survey by market researchers GfK. The economy has continued to grow slightly thanks to solid demand from households, despite businesses pausing any major investments as they await the latest in the Brexit [...]
How global markets will cope with a second wave June 13, 2020 Fears of a second wave of coronavirus have stubbed out hopes of swift economic recovery around the world, as the possibility of further lockdowns hangs heavy on global markets. While many countries seem to have a grip on the coronavirus crisis, the prospect of new infections in the US hinted in Wednesday’s Federal Reserve meeting [...]
Wall Street shares plummet after Apple warning over China slowdown January 3, 2019 Wall Street shares have plummeted in response to Apple’s warning over a slowdown in China. All three major US indices tumbled on opening as Apple’s nine per cent fall caused another painful day for investors. The tech giant said lower demand for its products in China and the country’s economic deceleration were to blame for [...]
Vivienne Westwood sales up as luxury brands resist retail troubles November 22, 2018 Luxury fashion label Vivienne Westwood saw a rise in sales last year as high-end designers defy tough conditions for UK retailers. The designer brand’s turnover was £40.8m in 2017, up from £37.5m the year before, though profit remained flat at £1.9m. The company said 2017 was a “challenging year”, with retail conditions putting pressure on [...]
M&S, Tesco and Primark bosses to face MPs over fast fashion ‘waste’ October 5, 2018 Parliament's environmental audit committee has asked the bosses of 10 UK clothing retailers to reveal their environmental records, amid concerns about serial clothes dumping. High street staples Marks & Spencer, Primark, Next, Tesco, Asda and Sports Direct – among others – will also be summoned to parliament to face questions from the committee in November. Fast fashion is shorthand [...]
Advertising Week Europe begins today, so let’s remember that the creative industries are the unsung heroes of the UK economy March 18, 2019 When people think about television, they probably think of the BBC and UK programmes with global appeal, like Downton Abbey and Killing Eve. And even in literature and film, British characters are at the top of any list of the most memorable and loved creations – from James Bond to Harry Potter. Past and present, [...]
Burberry share price dips as Christopher Bailey says he will step down October 31, 2017 Shares in Burberry fell today after Christopher Bailey, its chief creative officer who also acted as the fashion brand’s chief executive until earlier this year, will leave the company by the end of 2018. Shares fell as much as three per cent after it announced Bailey has decided to pursue other projects after 17 years [...]
Burberry shares continue to drop over UBS downgrade and lack of Christopher Bailey successor November 10, 2017 Burberry reported solid growth for the first half of the year yesterday, but its shares closed down almost 10 per cent at 1,787p. Investors were unconvinced by new CEO Marco Gobbetti’s ambitions to take the brand more upmarket, with optimism dented by memories of rival Mulberry’s failed move away from affordable luxury to a high-end [...]
Luxury retailers hit by Apple warning over Chinese slowdown January 3, 2019 Shares in luxury retailers have plunged after Apple blamed a Chinese economic slowdown for its worse than expected sales performance. The tech giant said lower demand for its products in China and the country’s economic deceleration were to blame for its second revenue warning last night. Luxury retailers have subsequently suffered as analysts said investors [...]