Next chief executive Simon Wolfson warns that
“clothing prices will rise by up to 10% next summer if
the pound/dollar exchange rate stays at current levels,”
reports The Guardian.
Flatpack furniture manufacturer Meristem Holdings, a
major supplier to Argos and its sister company
Homebase, has entered administration. According to
The Times, Meristem merchandise accounted
for about £80 million in annual sales for Argos parent
Home Retail Group.
The finance director of Laura Ashley has resigned to
“pursue other interests,” reports The Telegraph. Chief financial officer and
secretary Rebecca Navarednam will assume his duties.