How strong were ASOS’ Christmas figures? Strong enough that the fashion merchant is looking to recruit another 50 merchandisers and buyers, reports Drapers.
Empire Stores isn’t the only brand that parent company PPR is divesting. In its press release announcing sales of 20.53 billion euros (£15.36 billion), the company said it was also closing the “missy” division of its US Redcats division, which includes the Chadwick’s catalogue.
Financier George Soros is the latest expert to sound the alarms regarding the UK’s economy. In its coverage of the World Economic Forum in Davos, Switzerland, The Guardian quotes Soros as saying, “London as a financial centre looms larger than New York as a financial centre in the US. In that sense, a bigger adjustment is facing the UK. House prices have appreciated as much in the UK as America. There are similarities. The UK will be affected”.
But as The Times notes, “specialists such as ASOS, retailers with a strong home shopping arm and the supermarkets were best placed to cope with the slowdown”.