Including Beyoncé’s new range with Topshop and continued strong sales for John Lewis.
The Source rounds up some of the key retail stories of the week.
Pop superstar Beyoncé is launching a new fashion line with Topshop owner Sir Philip Green. Currently called Parkwood Topshop Athletic, the range of athletic sportswear is due to launch in spring 2016. The news comes as Arcadia – which owns Topshop, as well as Dorothy Perkins and Miss Selfridge – announced a 5% increase in annual profits to £251.6 million.
Consumer confidence dipped in November, according to the GfK consumer confidence index. The news came despite shoppers showing an increased willingness to buy big ticket items, such as furniture and electrical products. The index dipped by one point to +1 during the month as three of the five measures used to calculate it decreased and one was unchanged.
Fashion retailer River Island has revealed a new ‘click and don’t collect’ service, in partnership with fulfilment specialist Shutl. The delivery service is aimed at customers who cannot pick up products ordered for in-store collection, and means they can have their item delivered within 90 minutes or at a time of their choice.
Oasis has reported its first full-year profit in three years. The fashion chain – which enjoyed success with its recent collaboration with the V&A – revealed pre-tax profit of £5.6 million for the year ending February 28. This follows a £300,000 loss the previous year.
The week ending November 21 saw a solid week’s trading for John Lewis, up 2.6% on last year with total sales of £117.2m. This marks the retailer’s second £100m of the year. Week-on-week sales were up 6.2%.
