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Crunch time as M&S expected to post lowest annual profit in four years Monday, 20th May 2013
One of Britain’s best-known brands is expected to report its lowest annual profit in four years on Tuesday, as sales continue to drag for Marks & Spencer. The department store is forecast by analysts to report a profit before tax and one-off items of £640 million to £670 million tomorrow, with a consensus of £658 million, according to a company poll.
Macy's earnings per share rise for 15th consecutive year Monday, 20th May 2013
Macy’s Inc. is keeping the pressure on to emulate rising sales figures after its earnings per share rose for the 15th consecutive year. According to WWD, Macy’s first quarter results show that they achieved a 13th straight quarterly comp gain of at least 3 per cent and sales have rose by more than USD 1 billion in each of the last three years.
Luxury watch retailers at Hong Kong report negative financial results Monday, 20th May 2013
Hong Kong which is the world's significant market for luxury watches are experiencing the effects of the fall in demand by Chinese travellers.
Mixed bag for BRC results as both footfall and shop vacancy rates rise Monday, 20th May 2013
The latest results from the British Retail Consortium revealed footfall on the high street rose 3.4 per cent year-on-year in April, the biggest increase since the run up to Christmas 2011. According to the results, which were compiled by the BRC and Springboard, the high street saw significantly more visitors in the month, compared with a 0.3 per cent rise in footfall for out-of-town centres, and a 3 per cent drop in shopping centres.
Qatar Holding linked to Versace deal Monday, 20th May 2013
Sources say Qatar Holding is “carefully looking at” Versace as the sovereign wealth fund is linked once more to a fashion industry acquisition. According to financial sources cited by Italian paper Il Sole 24 Ore on Saturday, the Qatar Holding and an Italian state-controlled investment fund are investing in the Italian fashion house.
Prada plots 80 new stores for 2013 Saturday, 18th May 2013
Prada Group is set to continue its steady rate of global expansion as it looks to open up to 80 new stores in 2013, focusing on Asia, the Gulf countries and North America. The Italian fashion house’s Miu Miu brand will also launch a bevy of new stores in China, despite the fluctuating market conditions in the region.