Latest news with #Autumn
South Wales Argus
18-07-2025
- Business
- South Wales Argus
Burberry ‘encouraged' by turnaround progress amid job cuts
The London fashion house revealed that retail revenues fell by 6% to £433 million for the 13 weeks to June 28, compared with a year earlier, amid a drag from currency rates. However, it reflected a slowdown in the group's sales decline amid efforts to turn around its fortunes after coming under pressure from weaker luxury spending. Last November, the group launched a £40 million cost-cutting programme after first sinking to a loss. Naomi Campbell walked the Burberry Autumn/Winter 25 runway at London Fashion Week (Jordan Pettitt/PA) In May, the company announced proposals to cut about 1,700 jobs worldwide over the next two years as part of the shake-up. In its fresh update, Burberry said it has made some progress in its transformation efforts but is still in the 'early stages' of the potential turnaround. The company said: 'In the first half, we are continuing to prioritise investment and expect to see the impact of our initiatives build as the year progresses.' It pointed towards efforts to simplify its operations and improve productivity in a bid to improve profit margins. In the latest quarter, Burberry said there were improvements across its main regions, amid strong sales of 'outerwear and scarves'. Comparable retail sales grew by 1% in Europe, the Middle East, India and Africa (EMEIA) as positive local spending helped to offset declines among tourists. Meanwhile, its Americas business reported growth of 4% for the quarter. However, it said sales in Greater China fell 5% for the quarter, while its Asia Pacific division saw a drop of 4%, driven by a 'challenging performance in Japan'. Joshua Schulman, chief executive of Burberry, said: 'The improvement in our first quarter comparable sales, strength in our core categories, and uptick in brand desirability gives us conviction in the path ahead. 'Our autumn 2025 collection is being well received by a broad range of luxury customers as it arrives in stores. 'Although the external environment remains challenging and we are still in the early stages of our transformation, we are encouraged by the initial progress we are starting to see.'
Glasgow Times
18-07-2025
- Business
- Glasgow Times
Burberry ‘encouraged' by turnaround progress amid job cuts
The London fashion house revealed that retail revenues fell by 6% to £433 million for the 13 weeks to June 28, compared with a year earlier, amid a drag from currency rates. However, it reflected a slowdown in the group's sales decline amid efforts to turn around its fortunes after coming under pressure from weaker luxury spending. Last November, the group launched a £40 million cost-cutting programme after first sinking to a loss. Naomi Campbell walked the Burberry Autumn/Winter 25 runway at London Fashion Week (Jordan Pettitt/PA) In May, the company announced proposals to cut about 1,700 jobs worldwide over the next two years as part of the shake-up. In its fresh update, Burberry said it has made some progress in its transformation efforts but is still in the 'early stages' of the potential turnaround. The company said: 'In the first half, we are continuing to prioritise investment and expect to see the impact of our initiatives build as the year progresses.' It pointed towards efforts to simplify its operations and improve productivity in a bid to improve profit margins. In the latest quarter, Burberry said there were improvements across its main regions, amid strong sales of 'outerwear and scarves'. Comparable retail sales grew by 1% in Europe, the Middle East, India and Africa (EMEIA) as positive local spending helped to offset declines among tourists. Meanwhile, its Americas business reported growth of 4% for the quarter. However, it said sales in Greater China fell 5% for the quarter, while its Asia Pacific division saw a drop of 4%, driven by a 'challenging performance in Japan'. Joshua Schulman, chief executive of Burberry, said: 'The improvement in our first quarter comparable sales, strength in our core categories, and uptick in brand desirability gives us conviction in the path ahead. 'Our autumn 2025 collection is being well received by a broad range of luxury customers as it arrives in stores. 'Although the external environment remains challenging and we are still in the early stages of our transformation, we are encouraged by the initial progress we are starting to see.'
Western Telegraph
18-07-2025
- Business
- Western Telegraph
Burberry ‘encouraged' by turnaround progress amid job cuts
The London fashion house revealed that retail revenues fell by 6% to £433 million for the 13 weeks to June 28, compared with a year earlier, amid a drag from currency rates. However, it reflected a slowdown in the group's sales decline amid efforts to turn around its fortunes after coming under pressure from weaker luxury spending. Last November, the group launched a £40 million cost-cutting programme after first sinking to a loss. Naomi Campbell walked the Burberry Autumn/Winter 25 runway at London Fashion Week (Jordan Pettitt/PA) In May, the company announced proposals to cut about 1,700 jobs worldwide over the next two years as part of the shake-up. In its fresh update, Burberry said it has made some progress in its transformation efforts but is still in the 'early stages' of the potential turnaround. The company said: 'In the first half, we are continuing to prioritise investment and expect to see the impact of our initiatives build as the year progresses.' It pointed towards efforts to simplify its operations and improve productivity in a bid to improve profit margins. In the latest quarter, Burberry said there were improvements across its main regions, amid strong sales of 'outerwear and scarves'. Comparable retail sales grew by 1% in Europe, the Middle East, India and Africa (EMEIA) as positive local spending helped to offset declines among tourists. Meanwhile, its Americas business reported growth of 4% for the quarter. However, it said sales in Greater China fell 5% for the quarter, while its Asia Pacific division saw a drop of 4%, driven by a 'challenging performance in Japan'. Joshua Schulman, chief executive of Burberry, said: 'The improvement in our first quarter comparable sales, strength in our core categories, and uptick in brand desirability gives us conviction in the path ahead. 'Our autumn 2025 collection is being well received by a broad range of luxury customers as it arrives in stores. 'Although the external environment remains challenging and we are still in the early stages of our transformation, we are encouraged by the initial progress we are starting to see.'
Scottish Sun
17-07-2025
- Business
- Scottish Sun
Amount of unemployed Brits hits four-year HIGH after Rachel Reeves' NI hike as UK in ‘serious jobs recession'
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) BRITAIN has been plunged into a "serious jobs recession" as unemployment hit a four-year high, the Chancellor has been warned. Rachel Reeves was ordered to turn her Autumn Budget into a pro-growth platform after her £25 billion tax raid on business that kicked in from April. Sign up for Scottish Sun newsletter Sign up Official figures show the numbers on company pay rolls fell by 25,000 in May on the back of 41,000 just last month. But the unemployment rate edged up from 4.6 per cent to 4.7 per cent, according to figures from the Office of National Statistics. Lord Matthew Elliott, of the Jobs Foundation, said: "Today's figures confirm that the UK is now in the midst of a serious jobs recession. "The steepest fall in employment since the pandemic is a serious wake up call to the Government. 'The hike to Employer NICs has had the predicted damaging impact on jobs, and businesses are now worrying about further tax rises to come in the Autumn Budget. He added that Ms Reeves "must deliver a pro-growth, pro-jobs plan in the Autumn Budget'. Shadow Business Secretary Andrew Griffith said that unemployment 'is the only thing growing under Labour'. There will now be mounting pressure on the Bank of England to cut interest rates early next month to help kick-start the sluggish economy. Business are also braced for the new workers' rights package that is going through Parliament that will only add to firms' costs. Government estimates say that business will be hit for a staggering £5 billion as a result of the package that includes day one workers rights and a boost for trade union powers. The Chancellor heads to South Africa today to tell finance chiefs at the G20 that Britain is a "beacon of stability". It comes after her Mansion House speech this week where she called for red tape to be ripped up to help the City. But in recent months Britain has been hit by a shrinking economy and caught up in the global tariff war triggered by US President Donald Trump. Economy woes continued for Ministers as Jaguar Land Rover revealed that they were making 500 managers redundant as part of a voluntary scheme. Neil Carberry, of the Recruitment and Employment Confederation, said the Chancellor must be reassured that there will be no more punishing taxes this Autumn in the Budget. He warned: "If Government can increase businesses' and families' willingness to spend for the future, we would likely see a positive trend in both the labour market and the wider economy. "A reduction in the interest rate next month will help with that but so will reassuring firms that they don't face another swingeing tax raid in the Budget, and fixing the impracticalities in the Employment Rights Bill – a piece of legislation that is not yet suited to the modern workplace."
Fibre2Fashion
17-07-2025
- Entertainment
- Fibre2Fashion
UK's Topshop & Topman return to the runway this august
After almost a decade, Topshop and Topman are staging their first runway show this summer. This August, Topshop and Topman will return to the runway for the first time in seven years with a highly anticipated show, to celebrate the re-launch of and debut its Autumn Winter 2025 collections. Topshop and Topman will return to the runway this August for the first time in seven years, unveiling their Autumn Winter 2025 collections and relaunching The show will feature See Now, Buy Now pieces and previews of later drops, highlighting sharp tailoring, statement outerwear, and bold denim. Open to the public, it will be held at a landmark London venue. The runway will showcase See Now, Buy Now product for Autumn Winter 2025, as well as an early preview of pieces set to drop later in the season. For Topshop, AW25 delivers sharp tailoring, statement outerwear, stand out dresses and the must have denim pieces of the Season. For AW25, Topman redefines modern utility by blending refined formalwear with sharp new silhouettes, while casual pieces are grounded by authentic denim in deep indigos. Open to the public, the show will take place at a landmark London location, with full details to be announced later this summer. In the lead-up, Topshop and Topman have launched an Open Casting in collaboration with Wilhelmina Models, London, offering new, unsigned talent the opportunity to walk the show. Applications are now open and close on 4 August 2025. To celebrate, following the show, Topshop and Topman will partner with London's local creative community to host a street party featuring live music, DJ sets, and surprise guests. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (RM)
