Including M&S teaming with Alexa Chung and Kitbag being sold.
The Source rounds up some of the key retail stories of the week.
Marks & Spencer is teaming up with model and TV personality Alexa Chung for a new capsule collection. Launching in-store from April, the range will be called Archive by Alexa and will include 31 styles. The tie up will be the first in M&S’ new ‘M&S &’ series.
John Lewis reported a slight sales increase of 0.6% to £69.97 million for the week to January 30. It was a quiet week for the retailer, with its flagship Oxford Street outlet reporting a 6.6% fall in sales. Fashion sales were down 2.3%, although home and electricals rose 2.9% and 1.7% respectively. Online sales grew 6.4%.
Waterstones saw its full year losses narrow thanks to investment in refurbishing stores and improving its infrastructure. The bookseller reported a loss of £4.5 million for the 12 months ending April 27 2015, down from £18.8 million a year earlier. Operating income stood at £5.4 million, following a loss of £3.8 million in 2014.
Findel has sold the Kitbag business to US licensed sports merchandise specialist, Fanatics. The company will pay £11.55 million for Kitbag, which reported a pre-tax loss (before exceptionals) of £1.2 million for the year to March 27 2015.
Matalan has been placed into Lloyds Banking Group’s business support unit, according to Retail Week. The division was set up to help troubled businesses. Matalan warned on profits in January after sales dropped over Christmas. It revised its full year earnings to between £54-56 million.
