retail Business news
John Lewis turbo charges its branded fashion offer for AW08 announcing an exclusive partnership with Jigsaw
Autumn Winter 2008 will see Jigsaw launching exclusively in John Lewis. This is the first time Jigsaw has collaborated with a UK department store group and follows hot on the heels of the highly successful launch of Nicole Farhi main line. An edited selection of the Jigsaw range will be available in six John Lewis stores for Autumn/Winter 2008.

Women's fashion at John Lewis continues to be one of the best performing categories, with continued incremental growth across own-brand and branded. Own-brand is running at +26 per cent half to date (HTD). Reiss, which launched in November 2007 has delivered a strong performance and Whistles is also up significantly at +43 per cent HTD. Jaeger is performing well at +39 per cent HTD on the back of fantastic sales of the newly launched Jaeger London collection. In addition, new seasonal lines from luxury denim brand, Seven for all Mankind, are up 25 per cent.

John Lewis will be launching a host of other international brands within its fashion portfolio this Autumn Winter 2008 including:

Part Two — John Lewis will be the first UK department store to exclusively debut this Danish brand, which has been tipped by fashion press as one to watch. Instore from July.

BCBG MAX AZRIA — BCBG arrives at John Lewis this Autumn/Winter. The classic feminine brand will inject Parisian chic into the John Lewis fashion department.

Day Birger et Mikkelson — The stylish Swedish brand will be available instore from August. The collection is a mixture of relaxed tailoring with a vintage twist, complimenting the John Lewis fashion offer perfectly.

John Lewis is also developing its urban branded collections with the introduction of Bench and Full Circle, both available instore from August.

Peter Ruis, Buying Director Fashion, said: 'This is a new era for fashion at John Lewis. The influx of UK and international brands, two of which are exclusive to us, demonstrates that John Lewis is the place to come for aspirational brands wanting to break into the UK market. We continue to offer our customers exciting, exclusive, and international fashion and we believe John Lewis has the best edited collections of fashion on the high street.'
Notes to Editors

The John Lewis Partnership — The John Lewis Partnership operates 26 department stores across the UK, John Lewis Direct — a website and catalogue business, 187 Waitrose supermarkets and Greenbee, a new direct services company. The business has an annual turnover of over £6bn.

John Lewis — John Lewis, 'Britain's favourite retailer 2007'* typically stocks more than 350,000 separate lines. The website stocks more than 30,000 lines focused on the best of home and giftware and is consistently ranked one of the top online shopping destinations in the UK.

Visit: John Lewis | Waitrose | Greenbee [11 April 2008]

TJX Companies outstanding value, reaps financial rewards
The TJX Companies, Inc. (NYSE: TJX) reported March 2008 sales results for the five-week period ending on the 5th of April 2008, were $1.73 billion, up 2 per cent over the $1.70 billion achieved during the five-week period ending on the 7th of April 2007. For the nine weeks ending on the same date, sales reached $3.0 billion, up 4 per cent over the $2.9 billion. Consolidated comparable store sales were flat and year-to-date consolidated comparable store sales increased 1 per cent over last year during the nine week period.

Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, "This year, the challenge of the early Easter, coupled with unseasonably cold weather, resulted in our below-plan March consolidated comparable store sales. Also, we were up against a strong 6 per cent increase last year. That said, inventories are in excellent shape, mitigating our markdown exposure as we enter April. Our very liquid inventory position continues to enable us to buy right and at great values and keep our merchandise margins strong. We have begun to see a pick-up in sales trends in certain areas where the weather has become more seasonable and believe that our compelling values will continue to attract customers and drive our business."

The Company now expects earnings per share from continuing operations for the first quarter to be at or slightly below the low end of its previously expected range of $.40 — $.41.

Visit: The TJX Companies, Inc. [11 April 2008]

On a year-to-date basis, for the two months ending on the 5th of April 2008, owned sales totalled $503.8 million compared to $504.3 million, a 0.1 per cent decline on both a total and comparable store sales basis.

For March, the strongest categories at Saks Fifth Avenue were women's designer eveningwear, men's shoes and contemporary apparel, fashion jewellery, women's shoes, and fragrances. The weakest categories at Saks Fifth Avenue for March were women's classic bridge apparel, women's petites and large sizes, women's designer apparel, and fine jewellery.

Saks Incorporated currently operates Saks Fifth Avenue, which consists of 54 Saks Fifth Avenue stores, 48 Saks Off 5th stores, and saks.com. The Company also operates Club Libby Lu specialty stores.

Visit: Saks Inc. [10 April 2008]

Comparable store sales by division for March 2008 were as follows:
— Gap North America: negative 14 per cent versus positive 4 per cent last year
— Banana Republic North America: negative 8 per cent versus positive 8 per cent last year
— Old Navy North America: negative 27 per cent versus positive 10 per cent last year
— International: negative 3 per cent versus negative 5 per cent last year

"Overall March traffic and sales results across our brands were disappointing, particularly at Old Navy," said Sabrina Simmons, Chief Financial Officer of Gap Inc. "With our continued inventory discipline across the brands, we delivered merchandise margins above last year. As we execute our strategy of delivering healthier earnings through improved margins and cost management, we remain comfortable with our previously communicated 2008 annual earnings per share guidance of $1.20-$1.27."

Year-to-date net sales decreased 7 per cent from $2.46 billion to $2.28 billion. The company's year-to-date comparable store sales decreased 13 per cent compared with a 2 per cent increase in the prior year.

The company will report April sales on May 8, 2008.

Visit: Gap Inc. [10 April 2008]

March comparable store sales were adversely affected by shifts in the Easter and Spring Break calendars, which were two weeks earlier compared to last year.

March 2008 financial highlights included:
— Total Company net sales of $330.2 million
— Total Company direct-to-consumer net sales increased 45 per cent
— Total Company comparable store sales decreased 10 per cent
— Abercrombie & Fitch comparable store sales decreased 2 per cent
— abercrombie comparable store sales decreased 14 per cent
— Hollister Co. comparable store sales decreased 16 per cent
— RUEHL comparable store sales decreased 21 per cent

Year-to-date, the company reported a net sales increase of 4 per cent to $559.1 million from $537.8 million last year. Comparable store sales decreased 7 per cent for the year-to-date period. Year-to-date, total company direct-to-consumer net sales increased 43 per cent to $42.5 million.

Visit: Abercrombie | Abercrombie Kids | Hollister & Co | RUEHL [10 April 2008]

Visit: bebe stores, inc. [10 April 2008]

Visit: Liz Claiborne Inc. | Windsong Brands | Hilco Consumer Capital | Radius Partners [10 April 2008]

2007 marks another ExceLLENT YEAR FOR GIORGIO ARMANI GROUP
With every aspect of the business performing at a rate which has achieved significant growth, Giorgio Armani next challenge will probably be their hardest to date. After 30 years of outstanding growth across all lifestyle brands, product categories and geographic areas (and faced with an American recession that is set to have repercussions around the world); how will they set about safeguarding all their achievements, for the future trading trials to come?

With a strategy that has been stuck in growth gear for so long — culminating in Group Consolidated Revenues increasing by 8 per cent to €1.6 billion in 2007, Wholesale revenues increasing by 15 per cent to €2.4 billion and the expansion of the company's retail network (through the opening of 49 new stores — with a further 50 scheduled for 2008)— results like these demonstrate the strength of the Group’s brands and the positive impact of its worldwide expansion strategy.

Giorgio Armani, President and CEO of Giorgio Armani S.p.A. said: “These financial results for 2007 reflect a company that has been consistently growing for thirty years and that has built an innovative and winning business model under the Armani brand. One can fully appreciate the vitality of the brand in the world today through this outstanding performance and most especially through the ongoing expansion in each of our five lifestyle collections and the remarkable growth seen in the more widely-diffused product categories, particularly fragrance, cosmetics and skincare, eyewear, watches and jewellery. With the Milan Furniture Fair taking place next week it is also appropriate to highlight the significant advance made by our Armani/Casa business.”

Advances that will take careful balancing in the future so as to protect the brand from over saturation.

Visit: Giorgio Armani [10 April 2008]

LEVI STRAUSS & CO. performs well on global stage
It would seem consumers have not tired of the versatile attributes of denim products created by Levi Strauss & Co. (LS&CO.). For the first quarter ending on the 24th of February 2008, the company achieved a 4 per cent increase in Net Revenues from $1,037m (for the three months ending on the 25th of February 2007) to $1,083 (for the first quarter this year). The company's Net Income reached a double digit increase of 12 per cent, generated by sales growth in Europe and the emerging markets in the Asia Pacific.

"Our performance in the first quarter represents a solid start for the year, despite an increasingly difficult retail environment,” said John Anderson, President and Chief Executive Officer. “Our Levi’s® brand continues to perform well on a global basis, and benefited from continued growth in our emerging Asia Pacific markets and in Europe. “We are cautious given the economic uncertainty in the United States and key markets around the world. Nonetheless, we remain focused on product innovation, retail expansion and optimizing our global footprint,” added Anderson.

The company reported that its Board of Directors declared a $50 million cash dividend to common shareholders. In addition, the company reported that on the 25th of March, it redeemed its remaining 121⁄4 percent bonds, further reducing long-term debt by $19 million. The company also reported that it began implementing SAP in the second quarter in the United States.

Levi Strauss & Co. (LS&CO.) also announced that it endeavours to rectify missed delivery dates and temporarily suspended shipments.

Visit: Levi Strauss & Co. [8 April 2008]

Polo Ralph Lauren to provide clothing for the 2008 U.S. Olympic and Paralympic Teams
The United States Olympic Committee has named Polo Ralph Lauren (NYSE: RL), as the official outfitter for the 2008 U.S. Olympic and Paralympic Teams.

Under the agreement, Polo Ralph Lauren has designed the official Opening Ceremony and Closing Ceremony Parade Outfits, for the U.S. Teams at the Beijing Games, in addition to an assortment of village wear pieces to be provided for the U.S. Teams.

The Official Opening Ceremony Parade Outfits, will not be unveiled to the public until the Opening Ceremony on the 8th of August 2008, to a worldwide viewership expected to exceed four billion — the largest audience ever to view the Olympic Games.

"We are both thrilled and honoured to join with the U.S. Olympic Committee and the U.S. Olympic and Paralympic Teams to contribute to the most esteemed sporting event in history. As our athletes take to this world stage, they are representing the best of America and we are proud to be a part of that," said David Lauren, Senior Vice President of Advertising, Marketing and Corporate Communications for Polo Ralph Lauren.

"As we discussed ideas about who could best outfit our athletes in a manner representative of the Olympic Movement and what it stands for today, we believe Ralph Lauren is uniquely suited to deliver an outstanding product," said U.S. Olympic Committee Chief Operating Officer Norman Bellingham. "Polo Ralph Lauren is a quintessential American brand that represents a timeless and classic look which we believe our athletes will be excited to wear."

Apparel from the entire Polo Ralph Lauren U.S. Olympic and Paralympic Team Parade Outfit collection, will be available for purchase in the United States.

The Beijing 2008 Olympic Games will be celebrated from the 8th of August 2008, to the 24th of August 2008.

Visit: Polo Ralph Lauren | US Olympic Games | US Olympic Team [7 April 2008]

BENETTON's INVESTOR RELATIONS SITE GETS A revamp
Innovation, sound content and a functionality — that makes using the site a breeze — are the key component parts to the Benetton Group's revamped Investor Relations website.

With an ever wider range of information which includes: a user-friendly tool for managing the flow of financial information between the Benetton Group and the financial market (downloadable in various formats and constantly updated), and a completely renewed section devoted to Corporate Governance; the website provides maximum accessibility to the Group’s most important content.

The site has been made unique by the introduction of the interactive Value Chain, in an innovative and user-friendly version. With this tool, the user can navigate through the activities of the organization that add value, from production to distribution and logistics, through to marketing and sales. The various themes devoted to Brands, Product, Operations, Commercial and Communication are developed in detail and are enhanced by financial charts, as well as by slideshows, videos and audio files.

Depending on your requirements, information can be sent direct to your email mailbox or through the RSS and alert service by email/SMS or to mobile devices through the www.benettonir.mobi to provide further interactivity.

All information is available in Italian and English.

Visit: The Benetton Group [3 April 2008]

Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, "We believe this Settlement Agreement provides a fair resolution for MasterCard and its issuing banks and look forward to a high level of issuer acceptance. Providing a secure shopping environment for our customers remains a priority for TJX. Beyond the many millions of dollars we have spent to add significant security to our computer system, we are installing security measures which exceed those of many other retailers and current industry requirements."

Visit: The TJX Companies, Inc. [3 April 2008]

USEFUL SITES
> Association of Gloves
> British Retail Consortium
> Business in the Community's Awards for Excellence
> Clerkenwell Dressed
> Director E
> E Mediac
> Fashion Group International
> IGD
> Inca Productions
> London Apparel
> London Fashion Week
> London Fashion Forum
> Mad.co.uk
> Natural Yes/Lenzing
> Retail Week Seminars
> Serebella
> Tencel
> Textronic Yarn
> Texyard
> The British Travel Goods & Accessories Association
> The Retail Week Conference
> The Retail Zone
> TNT Retail
> Wool Mark