It’s not all doom and gloom for the embattled luxury sector. Despite cuts in spending in the previously lucrative Asian markets and a Eurozone still in recovery, there’s gains to be made from fashion houses who know how to play to their strengths.
Marks & Spencer on Thursday announced sales in its final quarter to 28th March rose 1.9 per cent, with general merchandise sales, including women’s clothing, up 0.7 per cent on a like-for-like basis.
Game Digital saw its share price fall more than seven per cent in morning trading after revealing an 18.5 per cent drop in profits for its interim results.
Swedish fashion retailer H&M today revealed positive news - a larger first-quarter pretax profit than was predicted, along with a 9 per cent boost in local currencies for sales between March 1st and the 21st.
The Scottish economy felt a sharp slowdown in the three months to the end of February this year, according to the latest report from the Bank of Scotland’s business monitor.
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