Retail news round-up on June 12, 2014: John Lewis clothing boss in talks to join Hobbs, Inditex profits beat expectations, H&M sales rise 19% in May and Next sells Doncaster warehouse.
John Lewis clothing chief Meg Lustman may join fashion chain Hobbs
Meg Lustman, clothing chief at John Lewis, is in talks with fashion chain Hobbs as its chief executive as she leaves the departmental store chain next month when her contract expires, Sky News understands. Hobbs boss Nicky Dulieu exited the retailer in February after eight years in charge.
Inditex reports profits higher than expected
The world’s leading clothing retailer Inditex exceeded analysts’ expectation as it posted £327.6m profit in its first quarter. However, the net income has fallen by 7.3% in the last three months, since April 2014. The Zara owner is believed to be relying majorly on the e-ommerce, thereby controlling its expansion-related costs.
H&M sales higher than expected
Fashion retailer H&M global sales figures rose by 19% in May, much above the 11.5% forecast. H&M says its May sales were positively affected by calendar effects of approximately
Next warehouse bought for a £60m
UK’s leading clothing retailer Next has sold its Doncaster-based warehouse for £60m to Tritax Big Box REIT, Bdaily Business News reported.
“Doncaster is one of the most important distribution locations in the UK and the immediate surrounds have attracted occupiers such as Ikea, B&Q, Tesco, Wincanton, The Range and DFS due to excellent transports links and less congested motorways.”, says Collin Godfrey, partner of Tritax.
Former BRC boss Stephen Roberston joins advisory board of ecomm firm PrimaStar
Former B&Q director and BRC boss Stephen Robertson has joined the advisory board of ecommerce firm PrimaStar. The group also has Steven Esom, chairman of the trading arm of the British Retail Consortium and former Datanomic chief Jonathan Pell on its board.