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Sephora to open second Manchester store this summer

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February 13, 2025

Sephora continues to build its UK store portfolio with Manchester seen as a strategic part of its plans, warranting a second city store.

The French beauty giant said following “the immense success” of its Northern debut last spring with the opening of its first store outside of London at Manchester’s Trafford Centre, a second in is now scheduled for Manchester Arndale, the largest inner-city shopping destination.

The opening will become Sephora’s 10th UK store and follows other 2025 debuts at Liverpool One and Sheffield’s Meadowhall Shopping Centre.

Sarah Boyd, managing director, Sephora UK, said: “Manchester showed us phenomenal support when we opened our first store in the region, which blew away all our expectations. We are thrilled bringing a second beauty playground to our customers in this vibrant and culturally rich city, allowing us to reach even more shoppers with a city centre location at Arndale.

“We already know there is strong appetite from beauty enthusiasts in Manchester as we saw over 2,000 eager customers queue on our opening day last year, and we look forward to recreating the same energy at Arndale and to continue providing an unparalleled beauty experience like no other.”

Steve Gray, head of European Retail Asset Management at Global Mutual, joint asset managers alongside M&G Real Estate, added: “Sephora is an excellent addition to the Manchester Arndale line up as it cements our position as the go-to destination for beauty and fashion brands. The arrival of Sephora continues the strong momentum of international brands selecting Manchester Arndale as they expand their UK retail footprint. This highlights the confidence these retailers have in Manchester Arndale’s continued strong performance and how we continue to attract shoppers from across the North West and beyond.”

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Fashion

K-Way owner BasicNet records revenue of €409.2 million in 2024, up 3.1%

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9 minutes ago

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February 13, 2025

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Nicola Mira

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February 13, 2025

BasicNet continues to grow, and in fiscal 2024 it recorded a consolidated revenue of €409.2 million, up by 3.1%. The results for the Italian fashion group that owns Kappa, Superga and K-Way were reported by the board of directors, and will be formally approved on March 7.

Federico Trono, CEO of BasicNet

In 2024, the group’s EBITDA was €61.1 million, up by 5.1%, while EBIT was €42.1 million (up 2.6%), driven by the opening of 12 monobrand stores as part of the group’s retail expansion plan. The net financial position was minus €142 million. In 2024, the Turin-based group paid dividends worth €7.4 million, and bought back shares worth €14.4 million.

BasicNet’s revenue included direct sales for €346.8 million (up 4.2%) and €60.9 million (down 2.2%) of royalties from commercial and manufacturing licensees. Total consolidated product sales by the BasicNet brands were €1.2 billion (up 3.3%), of which €864.7 million generated directly and by commercial licensees (up by 5.4%), and €313.8 million generated by manufacturing licensees (down 2.3%).

Direct and commercial licensee sales were up 12.1% in Europe, which accounted for approximately 76,6% of consolidated sales, and by 1.5% in the Middle East and Africa. They slumped however in the Americas (down 21.3%) and Asia & Oceania (down 22.6%).

“The gradual improvement throughout the year of our economic performance and equity position, supported by the solid commercial growth of the group’s brands, allowed us to deliver record consolidated revenues and EBITDA.  At the same time, working capital was optimised and the debt to banks reduced,” said BasicNet CEO Federico Trono.

As anticipated in January, BasicNet has set February 28 as the deadline to close the deal with the Permira investment fund, which is acquiring a stake in K-Way.

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Unibail-Rodamco-Westfield tops 2024 financial target

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40 minutes ago

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February 13, 2025

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AFP

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Nicola Mira

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February 13, 2025

On Thursday, commercial real estate giant Unibail-Rodamco-Westfield (URW) reported a positive recurring net result, its benchmark financial indicator, of €1.47 billion, up 4.5% and exceeding the target set by the group.

Unibail-Rodamco-Westfield

The Westfield owner has reduced its financial debt to €19.5 billion, and generated €1.6 billion through asset disposals since January 2024, including the sale of the stakes it held in the Westfield Forum des Halles shopping mall and the Trinity office tower at La Défense in Paris.

In a conference call, URW CEO Jean-Marie Tritant hailed the group’s “excellent financial results” in 2024, notably the increase in net rents received in all of its business sectors: rents received were up by 5.8% in shopping malls, by 14.4% in office properties, and by 21.3% in convention and exhibition facilities.

In shopping malls, which account for the main share of the rents received by URW, the vacancy rate fell to 4.8%, its lowest level since 2017, while visitor attendance increased by 2.6% and retailers’ revenue by 4.5% compared to 2023.

EBITDA increased by 6.9% over 2023, reaching €2.35 billion.

Adjusted recurring earnings per share, URW’s benchmark profitability indicator, rose by 2.4% to €9.85 per share, above the target set between €9.65 and €9.80 per share.

In the last four years, URW has divested €6.4 billion worth of assets as part of its strategic transformation, a plan that Tritant described as “successful,” leading the group to decide to “retain our high-performing flagship assets in the US.”

URW will propose to pay a dividend of €3.50 per share.

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FatFace returns to Jersey for first time since 2021

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1 hour ago

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February 13, 2025

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February 13, 2025

FatFace is heading back to the island of Jersey. After closing its standalone store in 2021, the British fashion/lifestyle retailer returns with a 1,978 sq ft store on King Street, St Helier, this month.

FatFace

It opens in time to deliver the brand’s new spring collection as well as “iconic items from its core range”.

The St Helier location will create five new jobs and the stores director for FatFace said King Street is a prime location, “and this store represents our commitment to serving our loyal Jersey customers with a vibrant and welcoming shopping experience”.

The brand, which operates 189 UK stores, six in the Republic of Ireland, and over 20 stores in the US, began 2025 on a strong promotional footing, taking on a “transformative” three-year lead brand sponsorship of professional netball team London Pulse to “power of female sport, style, community and inclusivity”.

This year will see the FatFace brand emblazoned on the team’s shirts, gaining televised exposure via Sky Sports and BBC Sport coverage of the Netball Super League, where the partnership “will elevate the visibility of netball and FatFace to diverse audiences across the UK”.

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