It’s been a long time coming since the announcement last year, but Harrods has finally opened its first standalone beauty store, H Beauty, at Lakeside in Essex. A second store will open in Milton Keynes in 2021.
The Hut Group’s much anticipated IPO will see its shares priced at £5 each giving it a market cap of £5.4bn, the company has said. It added that the 374m shares being sold make up around 35% of its total share count.
The Hut Group has published details of its highly anticipated stock market float with confirmation that it will go ahead with the IPO and that it plans to list on the London Stock Exchange’s main market this month.
The Illinois-based cosmetics retailer announced a 26.3% decline in second-quarter net sales on Thursday due to disruption linked to Covid-19, but still managed to beat analysts’ expectations with its profit.
The Hut Group confirmed what had been widely expected on Thursday morning — that it’s going to float on the London Stock Exchange. It also revealed impressive percentage growth figures and its strength in key markets.
Intu’s administration filing hasn't stopped retailers from signing up to open stores at its major malls. The latest news is that Next will be opening three of its new concept premium beauty stores at Intu locations.
The Retail Industry Leaders Association (RILA), whose members include companies such as Walmart and Target, said Friday it has joined a dozen+ trade groups to form a coalition to fight counterfeits on online platforms.
More British shoppers returned to the high street in July, helped by the reopening of pubs and restaurants, but numbers were still much lower than normal for the time of year, an industry survey showed on Friday.
Sales at Maybelline maker L’Oréal fell more sharply than expected in the second quarter, though the French beauty giant managed to contain any major profit erosion as the COVID-19 pandemic forced stores to close.