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Thursday 13th May
Susanna Drewy the latest addition to our FashionCapital team and will be writing the newsbites for you on a regular basis…So welcome Susanna!
Levi’s selling Dockers
Levi Strauss & Co, the San Francisco blue jeans manufacturer, has put it’s casual chinos brand up for sale. Levi’s are hoping to reduce some of their whopping $2billion debt. They are going to focus on their core Levi’s and on their lower priced Signature brands.
Marks and Spencer
Some good news (and don’t they need it!) - they have just announced a new head of womenswear. She is Kate Bostock who is the former product director of the George range at Asda.
Meanwhile the press is still full of yet more stories of boardroom battles over Luc Vandevelde’s salary whilst he was there. But who will replace him - Archie Norman, former chairman of Asda has now ruled himself out, we wait to see who it will be.
John David Group in Tough Times
JD Sports operator John David Group, which also runs fashion chain Ath have announced that their pre-tax profits were down to the end of January . Their core sports business supports 90% of sales, whilst the fashion areas are finding it more difficult. New executive chairman Roger Best has said that “all strategic options remain under review.
Interest Rate rise looms
The Bank of England indicated yesterday in its latest Inflation Report, that interest rates will happen very soon.
Susanna Drewy
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