In another blow to the UK high street, Marks & Spencer has proposed more closures as part of its transformation strategy. Bayswater, Darlington, East Kilbride, Falkirk and Kettering will be amongst the towns affected.
As participant, Primark will embrace the three key principles of the initiative: business models that keep clothes in use; materials that are renewable and safe; and solutions that turn used clothes into new clothes.
Japanese intimates giant Wacoal reported a mixed set of results with sales broadly flat but operating profit up, although net profit fell. Yet investors seemed pleased as the shares rose after the announcement.