French luxury goods group LVMH reported a 3% drop in comparable sales for the fourth quarter, as a boom in revenues at its big fashion brands like Louis Vuitton offset a weak performance at its duty free shops.
Boohoo on Monday confirmed that it has bought the Debenhams brand for £55m. It will use it to move into beauty and homewares, extend its own brand offering, operate a giant online marketplace and grow internationally.
Boohoo Group is set to acquire collapsed British department store group Debenhams in a cut-price deal that will result in the closure of the group's remaining department stores, the Financial Times reported on Sunday.
There's a new frontrunner in the race to buy Topshop, Topman and Miss Selfridge with Asos being suggested as the lead contender on Saturday evening, which could mean the chances of saving any stores are slim.