Two of Britain's biggest clothing retailers reported lower annual profits and weaker recent trading on Tuesday as turbulence in financial markets adds to the pressure on shoppers from high food and fuel costs.
Philip Green, the billionaire owner of the Bhs department store chain and Arcadia fashion group, said on Wednesday, October 15th he is still working on a deal to buy the debt of Icelandic retail investor Baugur.
The catwalks are humming and buyers are still trawling the stands at London Fashion Week, but behind the scenes luxury clothing retailers are considering the knock-on effects of a global financial crisis.
British fashion retailer Jaeger followed the success of its first show in February with an airy display of colour and a hint of vintage in its Spring/Summer 2009 collection at London Fashion Week on Monday.
The blue-chip index ended almost 2 percent lower on Wednesday after banks and builders took a pummelling on funding concerns, while retailers headed south on negative broker comment. The FTSE 100 .FTSE slumped 104 poi...