There may be concerns about UK retail as Brexit talks loom and shoppers are hit by higher inflation, but international tourist spend appears to be going from strength to strength with tax-free shopping up 55% last month.
So just how bad were Next’s full-year results? Well, they were not great and the outlook was discouraging with the firm talking about a “sectorial shift” as consumers move their spend away from the fashion sector.
The big news in recent weeks has been all about who will buy struggling Jones Bootmaker from Alteri. But today it seems that the private equity investor’s other footwear business, Brantano, is also a bid target.
Brands concerned about the impact of Brexit-related price rises on sales can draw encouragement from new research showing Britons will continue to buy premium brands. Yet they may also cut the amount they buy overall.
Pittards, the UK-based maker of technically advanced leather and luxury leathergoods, endured a tough 2016 that saw a new management team, a writedown and strategy changes, all resulting in a pre-tax loss of £4.1m.