Debenhams said on Tuesday it had rejected a “highly conditional” last-minute offer by its biggest shareholder Mike Ashley/Sports Direct to underwrite an increased £200m rights issue and it has filed for administration.
Two regular reports on Tuesday highlighted the weakness of UK consumer spending at present but also how tough it is to judge overall consumer sentiment given tricky comparisons with a year ago and the impact of Easter.
As athleticwear and beauty continue to be strong trends among Gen-Z consumers, Piper Jaffray has released its semi-annual “Taking Stock With Teens” report, revealing strong progress for Vans, Lululemon and Ulta Beauty.
As Arcadia looks at store closures in its key UK market, the company is also planning to close a raft of stores abroad, setting the seal on the failure of its once-ambitious global expansion plan, according to reports.
Woolworths Holdings has launched a limited edition makeup line in collaboration with Beyonce’s makeup artist Sir John on Thursday, seeking to strengthen its private label brand in its first international collaboration.
UK retail failed to recover from the weak sales of a year ago during March and fashion was among those not bouncing back sufficiently. But online boomed as gifting continued to switch to digital channels.