Saks Fifth Avenue owner Hudson’s Bay Co is in discussions with Austrian property and retail group Signa Holding GmbH about a joint venture for its German retail chain Kaufhof, two sources said on Monday.
In shock news Monday, UK footwear specialist Clarks confirmed that its CEO Mike Shearwood “has resigned following an investigation into complaints of conduct contrary to the company’s Code of Business Ethics.”
Shares in UK online Fashion retail giants remain depressed after falling late last week on the back of a US Supreme Court ruling that ended the restriction on states collecting sales tax from webstores.
House of Fraser will live to fight another day. Despite doubts around its CVA plan, creditors voted in favour of it on Friday which means it will now close 31 stores, reducing its size by more than half in the process.
Fashion chain Esprit issued a profit warning on Thursday based on a preliminary review of its management accounts. The group expects to end the financial year 2017/18 with a loss of 2.27bn Hong Kong dollars (US$289m).