Selfridges MD to step down Managing director Anne Pitcher, who has served at the luxury department store for 18 years, is set to stand down at the end of the year. The news comes after the completion of the £4bn acquisition of Selfridges by Central Group and Signa Holding. Read more.
Estée Lauder downgrades earnings outlook The skincare giant has announced that it expects a nearly 10% drop in sales in the present quarter, compared to the prior-year period. Estée Lauder's trading has recently been impacted by Covid-19 lockdowns in China and a strengthened US dollar. Read more.
Joules warns of losses The clothing retailer has said that it is set to record annual losses, as the recent heatwaves have affected demand for its main categories, such as outerwear and rainwear. The update comes as sales in the first 11 weeks of its financial year dropped 8%. Read more.