Latest news with #Drapers
Fashion United
2 days ago
- Business
- Fashion United
Tommy Hilfiger owner PVH cuts roles among head office
PVH, the parent company of Tommy Hilfiger and Calvin Klein, has cut some of its head office roles, the majority of which reside at its EMEA headquarters in Amsterdam, the Netherlands. According to a statement to Drapers, issued by a spokesperson for the group, its European, Middle Eastern and African (EMEA) business is 'evolving' as the company looks to 'unlock our full potential in the region and drive sustainable, profitable, long-term growth'. The spokesperson continued: 'As a result, some associates have experienced a role change, and some roles have been impacted. We will be providing transitional support to impacted associates.' In its Q1 report for FY25, PVH lowered its profit forecast amid an ongoing challenging economic climate. US customs policies were cited as the primary cause for concern, leading the group to revise its profit target from the initial 12.40 and 12.75 dollars to 10.75 and 11 dollars. During the quarter, the company swung into a pre-tax loss of 349 million dollars, down from a pre-tax income of 187 million dollars in the previous year. Gross profit also fell from 3 percent year-on-year to 1.16 billion dollars. FashionUnited has contacted PVH with a request for more information.
Fashion United
7 days ago
- Business
- Fashion United
Doubling fashion: John Lewis to launch own menswear brand, adds third-party labels
John Lewis is looking to double its fashion business as part of a wider elevation strategy currently underway at the department store chain. To build on this, the retailer is already set to launch a new own brand in menswear and is introducing a range of new, premium third-party brands. This is according to the company's executive director, Peter Ruis, who said in an interview with Drapers: 'I think I can double the [John Lewis] fashion business. The question, of course, is over what time period. We've been in homeware for 100 years. We've really only been in the proper fashion business for about 20 years. But we're already now the leading seller of premium brands in the UK. The market has opened up for us.' To expand its offering, the retailer is launching J. Lewis, a menswear brand that blends tailoring and casualwear, with an emphasis on durable fabrics and working with European mills. The label expands on its existing JL womenswear brand, which, for its AW25 collection, takes inspiration from the Highlands. The retailer will also be growing its selection of third-party brands. For womenswear, the likes of MM – a Max Mara sub-brand –, French label Iro, Russel & Bromley and By Malene are among those being introduced. For menswear, meanwhile, Pendleton, Japan's Snow Peak, Nigel Cabourn, Jak, Kapten and Che are set to launch. Ruis told Drapers: 'We've got a lot of energy behind [John Lewis fashion]. We're just driving more excitement into the brand. I think we've got the trust [of consumers] and the sense that the people's John Lewis is back, and now we're layering on excitement.' While acknowledging that the present day is 'not the easiest environment for the consumer', particularly with inflation rising, Ruis said that 'as a business, we're building on the long run to be a lot more profitable'. The retailer's fashion department is currently making around 1.2 to 1.3 billion pounds in revenue a year, he noted, before stating: 'I really don't see any reason why that can't be 2.5 billion pounds.'
Belfast Telegraph
25-06-2025
- Business
- Belfast Telegraph
Fashion chain to shut two Northern Ireland stores
According to reports, in January the fashion chain will shut its stores in Lisburn and in Bangor's Bloomfield Shopping Centre, along with 31 others around the UK. The business has announced last week that it would be restructuring its store estate around the UK. Hundreds of job losses are expected as a result of the UK-wide closures. It has 230 stores across the UK, with 97 sites not impacted by the restructuring plan. News Catch Up - June 25th 2025 According to Sky News and industry publication Drapers, the restructuring plan will be put to creditors of the business in August. The company is to renegotiate rents with the landlords of 70 other stores. River Island has carried out store relocations and improvements to its stores in Northern Ireland over the last few years. It opened a new flagship shop in Belfast's Donegall Place in 2023, after moving from its old spot at Victoria Square shopping centre. And in Ballymena, it relocated to a new store at Fairhill Shopping Centre, also in 2023.
Metro
25-06-2025
- Business
- Metro
Full list of River Island shops set to close next year revealed
River Island has confirmed which of its 230 shops will close as part of a major restructure to try and save the business. The fashion retailer announced last week that it will close its least profitable 33 branches across the UK after making a loss of £33.2milion in 2023. Hundreds of jobs are at risk as the brand plans to close 33 shops by January of next year – but there are another 71 branches at risk if River Island is unable to renegotiate rents with its landlords. The brand's owners blamed shoppers buying online instead of on the high street, as well as the increasing cost of running physical stores, for the slump in trading. The family-owned retailer, which was founded in 1948, has brought in advisers to oversee the restructure process. Those owed money by River Island will vote on the restructure plan in August, which if approved will lead to new funding being invested into the business. The restructure comes after a redundancy programme was brought in at its head office in London in January to try and save some cash. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video River Island did not confirm how many people were made redundant out of its 5,500 staff nationwide. Speaking last week, CEO Ben Lewis said: 'River Island is a much-loved retailer, with a decades-long history on the British high street. 'However the well-documented migration of shoppers from the high street to online has left the business with a large portfolio of stores that is no longer aligned to our customers' needs. More Trending 'The sharp rise in the cost of doing business over the last few years has only added to the financial burden. Fashion publication Drapers has published a list of the 33 River Island branches set to close: Beckton Bangor Bloomfield Wrexham Edinburgh Princes Street Hereford Surrey Quays Didcot Sutton Coldfield Aylesbury Burton-Upon-Trent Northwich Taunton Workington Falkirk Cumbernauld Kirkcaldy Gloucester Hartlepool Brighton Lisburn Norwich Oxford Poole Kilmarnock Hanley Barnstaple Grimsby Leeds Birstall Park Rochdale Great Yarmouth St Helens Stockton On Tees Perth 'We have a clear strategy to transform the business to ensure its long-term viability. 'Recent improvements in our fashion offer and in-store shopping experience are already showing very positive results, but it is only with a restructuring plan that we will be able to see this strategy through and secure River Island's future as a profitable retail business. View More » 'We regret any job losses as a result of store closures, and we will try to keep these to a minimum.' Get in touch with our news team by emailing us at webnews@ For more stories like this, check our news page. MORE: Martin Lewis warns UK shoppers are being 'fobbed off' — but SAD FART rule can help MORE: Full list of NatWest branches closing this week MORE: We've found the ultimate M&S dress to wear all summer for under £40 Your free newsletter guide to the best London has on offer, from drinks deals to restaurant reviews.
Daily Mail
20-06-2025
- Business
- Daily Mail
Primark orders staff back into the office for four days a week to improve productivity - but they can still WFH on Fridays and finish at 2pm
Primark has ordered employees in its product teams to be in the office for four days a week, as it becomes the latest major company to crack down on working from home. The change will impact staff at its Arthur Ryan House global head office in Dublin from September 15, which is the start of the clothing retailer's next financial year. But the 650 affected employees at Primark, whose parent firm is Associated British Foods (ABF), will still be allowed to work from home on Fridays and finish at 2pm. Primark began a hybrid working model in September 2021 after the pandemic, when employees were told to return to the office for an average of three days per week. But bosses are now upping this to four days, telling Drapers that their protect teams being together in-person 'strengthens productivity, creativity and development'. Primark is the latest company to tighten its hybrid working policy, following others such as Barclays, Santander, PwC, Amazon, Boots, Asda, JP Morgan and WPP. A spokesman said: 'After experiencing remote, hybrid, and full-time models in recent years, we will be reintroducing a four-day in-office work week for our product teams. 'We know when our product teams are together in-person, it strengthens productivity, creativity and development, ultimately delivering the best offering for our customers. Data from the Office for National Statistics (ONS) shows the proportion of workers carrying out hybrid working has increased since the early days of the pandemic 'We understand how important balance is and we will continue to offer flexible working hours, and remote working on Fridays with a 2pm finish.' The move comes as it was revealed this week that John Lewis is asking some head office staff to be in the office or out on the road for at least three days a week. The department store chain said its commercial teams working in buying and merchandising were being asked to only work from home for two days a week. They were previously allowed to work at home for up to three days a week. John Lewis cited training and development for 50 new members of staff as being a key reason for bringing commercial employees back into the office for more days each week. Staff can also still request flexible working, but it needs to be agreed with their manager - and there is no impact on employees at Waitrose, which is part of the same business. But some John Lewis workers have been unimpressed by the changes amid concerns over office staff at the company's new London head office in Pimlico, according to Retail Week. A John Lewis spokesmand told MailOnline: 'Flexible working is an important part of our offer; everyone in our business can request to work flexibly, and most central office Partners have hybrid working arrangements in place. 'A collaborative culture is critical to help create the best product ranges and store environment for our customers and we're taking steps to encourage team members to spend time together in our offices, our stores, meeting brands and suppliers and balancing this with working remotely. 'We've also recruited around 50 new team members to help spearhead our range development and store modernisation - and their training and development is vital to set us up for success.' Remote working policies were introduced by most companies during Covid-19 lockdowns, with office employees the most affected by them. The most recent official data showed more than a quarter of the UK workforce is in hybrid work, meaning spending some days at the office and some at home. The Office for National Statistics (ONS) said earlier this month that 28 per cent of working adults in Great Britain were hybrid working between January and March 2025. Data also revealed the proportion of hybrid workers had gradually risen since March 2022, but those who only travel to work had declined. Workers with a 'degree or equivalent' qualification are ten times more likely to hybrid work than those with no qualifications, according to the ONS which added that the proportion of workers engaged in hybrid work increased with higher income bands.
