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M&S digital chief exits months after cyberattack disrupts operations

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September 11, 2025

Marks & Spencer‘s chief digital and technology officer is stepping down from her role, months after a cyberattack crippled the retailer’s online operations, the company said on Thursday.

Marks & Spencer digital chief steps down after cyberattack fallout

A spokesperson for M&S said Rachel Higham, who joined the group last June, was taking a career break.

“Rachel has decided to take a break and is stepping back from her role, having been a valued part of the leadership team,” the spokesperson said.

“She has been a steady hand and calm head at an extraordinary time for the business, and we wish her well for the future.”

Sky News was the first to report news of her departure.

In May, M&S forecast that the hacking of its systems would cost it approximately £ 300 million ($405 million) in lost operating profit in its 2025/26 financial year, although it hoped to halve that impact through insurance and cost controls.

Sacha Berendji, M&S’s operations director, will take on the digital and technology function in addition to his existing responsibilities.

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Calvin Klein opens new flagship store in SoHo, New York

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December 10, 2025

Calvin Klein opened on Tuesday a new global flagship in New York City, marking the brand’s return to its hometown.

Calvin Klein opens new flagship store in SoHo, New York. – Calvin Klein

Located at 530 Broadway in SoHo, the over 3,000-square-foot store draws inspiration from New York’s signature loft apartments, characterized by open wood ceilings, cast columns and concrete flooring, paired with neutral tones and stainless steel fixtures.

Meanwhile, the store’s exterior is finished in the brand’s charcoal tone, with large windows displaying a seasonal visual concept created in partnership with Perron Studios.

The store features curated spaces with denim and underwear at the center of the assortment, alongside men’s and women’s apparel and accessories. Beginning in spring 2026, the location will offer select styles from Calvin Klein Collection during designated periods. To mark the opening, the SoHo flagship is releasing a limited capsule collection of tees, sweatshirts, hats and totes featuring custom Calvin Klein SoHo branding.

“We are proud to return to one of the world’s most fashionable cities – and the birthplace of our iconic brand – with an elevated retail expression,” said David Savman, global brand president, Calvin Klein.

“This new global flagship, located just steps from our landmark Houston Street billboard, is a tribute to Calvin Klein’s New York heritage. It represents both the evolution of our retail experience and a tangible expression of the world of Calvin Klein. Calvin Klein embodies a distinctive, global way of living that meets culture, and this store is the latest step on our journey of taking our brand to the next level.”

The store follows recent flagship openings in Paris and Tokyo and reflects the company’s strategy to create premium lifestyle destinations built around its minimalist design DNA.

“New York is central to the DNA of the Calvin Klein brand,” added Stefan Larsson, CEO, PVH Corp.

“This homecoming is a key milestone as we build Calvin Klein into one of the most desirable lifestyle brands in the world. Step by step, we’re deepening brand relevance, driving consumer engagement and strengthening brand positioning across North America and globally.”

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Swatch and Citizen face Italian scrutiny over pricing practices

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December 10, 2025

The Italian competition authority said on Tuesday it had opened two investigations into Swiss watchmaker Swatch and Japan’s Citizen Watch.

Reuters

The ⁠probes involve an alleged infringement of European ⁠rules on the fixing of retail prices displayed online by the ‍groups’ ‌authorised distributors. 

The two companies may ⁠be limiting ‌price competition among their ‌retailers through a vertical agreement, by imposing retail prices on their distributors and adopting “retaliatory ‍commercial measures” against those that fail to comply, the antitrust ‌authority ⁠said ​in a statement. 

The agency’s ⁠officials ​carried out inspections at the Italian offices of Swatch and ​Citizen on December 3.

Swatch and Citizen did not ⁠immediately respond ⁠to a request for comment. 

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UK retail tycoon Mike Ashley uses Frasers shares as collateral for loan

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December 10, 2025

British retail tycoon Mike Ashley has pledged around 670 million pounds ($890.6 million) worth of shares in his sportswear and fashion retailer Frasers Group Plc as collateral ⁠for a loan from HSBC, according to filing on Tuesday.

Reuters

Ashley’s ⁠holding company, MASH Beta Limited, which holds the majority of Frasers’ issued share ‍capital, ‌pledged about 103.6 million ordinary shares.

Frasers’ ⁠shares were down ‌about 1.3% at 646.5 pence ‌as of Tuesday’s last close.

This move comes after the company’s heavy investments in newer geographies and taking ‍or increasing shareholding in recent months across companies, from fashion groups to ‌electrical ⁠retailers.
Mike ​Ashley holds roughly a 73% ⁠stake ​in Frasers, according to data compiled by LSEG.

The company whose portfolio ​includes Sports Direct, House of Fraser and Flannels, reaffirmed its ⁠full-year profit forecast ⁠earlier this month.

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