-
Recent reports indicate a mixed landscape for retailers as sales figures fluctuate. While overall retail sales in the US rose by 0.4% from August to September, UK retailers like Fenwick and IKEA are grappling with significant declines. Both companies are adjusting strategies to attract cash-strapped consumers amid rising competition and economic pressures.
-
Boohoo's CEO John Lyttle is stepping down as the company initiates a strategic review of its brands, including Debenhams and Karen Millen. This comes as Boohoo faces declining sales and increased competition, with a 15% drop in revenue reported for the last six months. The company is exploring options to maximize shareholder value.
-
London Mayor Sadiq Khan has announced a £150 million proposal to pedestrianise Oxford Street, aiming to revitalize the iconic shopping area. The initiative seeks to enhance foot traffic and economic activity while addressing pollution concerns. Approval from the London Assembly and local government is required for the project to proceed.
-
More than 20 women have accused the late Harrods owner Mohamed Al Fayed of sexual assault and rape in a recent BBC documentary. Former Harrods CEO James McArthur acknowledged Fayed's inappropriate behavior but claimed he was unaware of any sexual abuse during his tenure in 2008. Harrods is now investigating potential staff involvement in the allegations.