H&M shrugs off January blues with double-digit sales growth February 17, 2014 HENNES & Mauritz, the world’s second largest retailer, said yesterday that total sales accelerated in January, rising 15 per cent compared with the same time last year. The Swedish clothing giant, which competes with its bigger rival Zara-owner Inditex, said this was in line with its forecasts and compared with a 10 per cent rise [...]
Abercrombie & Fitch announces chief executive Michael Jeffries’ retirement December 9, 2014 Embattled teen retailer Abercrombie & Fitch has said Michael Jeffries will step down from his roles as chief executive and board member with immediate effect. Jeffries, who had long been out of favour with investors, already lost his chairmanship role in a board restructuring earlier this year. Its shares surged nearly seven per cent in pre-market trade [...]
Rihanna vs Topshop: Three things businesses need to know about using celebrity images and endorsements January 23, 2015 Rihanna's “We Found Love” was one of the biggest hit songs of the autumn of 2011. Some readers may remember the furore surrounding the video shoot when the farmer, whose land the video was shot on, took a dislike to Rihanna’s dancing style and dress sense. Yesterday, we saw the next instalment in another dispute [...]
11 of the world’s 100 most sustainable companies are in the UK: Marks & Spencer, BT, and the London Stock Exchange January 22, 2015 The UK is home to 11 of the world's 100 most sustainable companies with Marks & Spencer, BT, and the London Stock Exchange all making it into the prestigious ranking. The other UK-based companies listed were Reckitt Benckiser, Centrica, Unilever, British Land, Sky, Pearson, BG Group and Electrocomponents. Each year media company Corporate Knights produces the ranking which measures companies' sustainability in terms [...]
Football Comment: Relegation battle alive but I fear for Burnley, QPR and Sunderland April 21, 2015 THE BEAUTY of this season’s battle to avoid relegation from the Premier League is that no team is adrift. With one win any of the sides scrapping for survival could take a big step towards safety. I think Newcastle and Aston Villa are safe, and that it’s between the bottom five. The Magpies have lost [...]
French Connection, Conde Nast and Champneys named and shamed for failing to pay minimum wage March 24, 2015 French Connection, Conde Nast and Champneys have been named and shamed by the government for failing to pay their workers the minimum wage. In total, 48 companies spanning fashion, publishing, hospitality, health, car, care and retail have been identified today by the Department for Business, Innovation and Skills. They owed workers £162,000 in arrears between [...]
H&M profits miss forecasts after splashing out on its new brands January 30, 2014 HENNES & Mauritz (H&M) yesterday blamed “substantial long-term investments” in new brands, technology and its online business for lower than expected profits. The Swedish retailer said pre-tax profit rose 11 per cent to 7.3bn Swedish crowns in the year to 30 November, missing analyst forecasts of around 7.6bn crowns. Gross margin also disappointed, falling to [...]
Pluto flyby pictures: Nasa’s New Horizons probe sends back “best image of Pluto yet” as it whizzes past dwarf planet July 14, 2015 A multi-billion-kilometre flight, taking nine years to complete, has culminated in a major win for space science: the Pluto flyby. The US probe shot past Pluto at 12.49pm UK time on a trajectory that brought the spacecraft within 12,500km of the body’s surface. The probe was travelling at 45,000 km/h (28,000 mph). Nasa [...]
H&M sales warmed by the cold December 16, 2013 SWEDISH retail giant H&M delivered better-than-expected sales in November as the cold weather prompted shoppers to stock up on winter clothing. The world’s second largest clothing retailer, which has 3,132 stores worldwide, said yesterday that total sales jumped by 21 per cent in November compared with the same time last year thanks to the “favourable [...]
H&M reports good Christmas as starts making clothes in Africa January 15, 2014 SWEDISH budget fashion retailer Hennes & Mauritz (H&M) said yesterday its total sales rose 10 per cent in December, right in line with market expectations. H&M said it would no longer report comparable sales for stores open at least a year, saying total sales were more relevant. December is the first month of H&M’s fiscal [...]