Australia’s No. 1 department store chain Myer Holdings said on Wednesday CEO Richard Umbers would step down after its third profit warning in a year, boosting demands from its biggest shareholder for a board overhaul.
Large shareholders in British online fast-fashion retailer boohoo see market concerns over the company's profit margins as overblown and are making the most of a share price rout to add to their holdings.
It’s always encouraging when a retailer headlines its trading update with words like “record first half” and that’s just what London-listed e-tailer MySale did Thursday, with H1 boosted by its try-before-you-buy offer.
Asos is firing on all cylinders, beating off the weak market in early autumn and December as both its international and domestic businesses saw surging sales, while Try Before You Buy and same-day delivery were popular.
As the UK gets ready for a spate of trading updates, it seems that the week before Christmas saw a late shopping surge with fashion sales rising year-on-year, but it's unlikely to have rescued an otherwise weak season.
UK fashion e-tailer Missguided saw a sales surge in its latest year but that didn’t help profits and the firm, which recently moved into physical stores, swung to a pre-tax loss on investment spending.