Arcadia has filed a new set of accounts at Companies House and it gives an insight into how bad trading has been at the business, with a swing to a loss last year. But it's talking up its growth focus for the future.
HanesBrands has announced that its Champion sportswear brand posted sales growth of more than 50% outside of the U.S. mass channel in the second quarter of 2019, helping the company achieve better than expected earnings.
The departure of M&S’s clothing, home and beauty head Jill McDonald, has been followed up by news that the retailer has headhunted Maddy Evans, the fashion director of Topshop, as it targets younger shoppers.
It’s difficult to think of a harder working designer in fashion than Kim Jones, creative director of Christian Dior’s men’s division; globetrotter; uber-collaborationist and, most recently, magazine editor.
Arcadia is moving fast following the approval of its CVA and it has said it will cut 170 jobs at its HQ. The company is “proposing to make some structural changes in order to support and deliver the turnaround plan.”
Double the number of Arcadia shops expected could close with the axe to fall heavily on Miss Selfridge and Evans, the former to lose its London flagship as it can command a rich rent from other retailers.
Arcadia revealed some details of its long-rumoured CVA plan late Wednesday afternoon with an exit from its US stores and closures in the UK and Ireland that will affect 520 jobs. It will also focus more on digital.