Asos emerges as contender for Topshop Asos has emerged as a serious contender in the bidding war for Topshop, after high street rival Next pulled out of the action last week. Read more.

Boohoo buys Debenhams brand and website The online fashion retailer has acquired Debenhams' brand and website for £55m. The deal does not include any of Debenhams' 118 high street stores or 12,000 members of staff. Read more.

Online sales double at The Works The discount games retailer has posted its interim results, reporting a surge in online sales and an increase in in-store demand. Read more.

John Lewis increases profit guidance following resilient Christmas performance John Lewis Partnership has said that sales across Black Friday and Christmas “held up better than anticipated.” As a result, the retail group has raised its profits forecast and is repaying its £300m government loan earlier than expected. Read more.

Next exits race to acquire Topshop The fashion retailer has withdrawn from the bidding process to acquire Arcadia’s Topshop brand. Next has said it was “unable to meet the price expectations of the vendor.” Read more.

M&S to add Joules and Hobbs to its line-up of fashion brands The retailer has struck deals with Phase Eight, Joules, Hobbs and Sea Salt to sell their products online and in its stores. Read more.