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Britain's JD Sports Says Chairman Higginson to Step Down

A branch of JD Sports is seen on a high street in London, Britain April 4, 2025. REUTERS/Maja Smiejkowska/File Photo
A branch of JD Sports is seen on a high street in London, Britain April 4, 2025. REUTERS/Maja Smiejkowska/File Photo
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Britain's JD Sports Says Chairman Higginson to Step Down

A branch of JD Sports is seen on a high street in London, Britain April 4, 2025. REUTERS/Maja Smiejkowska/File Photo
A branch of JD Sports is seen on a high street in London, Britain April 4, 2025. REUTERS/Maja Smiejkowska/File Photo

British sportswear retailer JD Sports Fashion said on Wednesday its chairman Andrew Higginson will step down from the role in July.

Higginson has chaired the group since 2022. He will leave after its annual shareholders meeting on July 21, Reuters reported.

Higginson, a retail ⁠veteran who was ⁠a long serving executive at Tesco before chairing Morrisons, oversaw the global expansion of JD Sports with about 40% of its business now ⁠in the United States. He also transformed its governance framework.

Analysts said his imminent departure was a surprise.

JD Sports said its board has started the process to find a successor.

It said independent non-executive director Darren Shapland will become interim chair following the July ⁠AGM ⁠until a permanent chair is appointed.

In January, JD Sports reported a fall in underlying sales over the key Christmas trading period. Its shares are down 9.5% so far this year, giving it a market capitalization of 3.7 billion pounds ($5.0 billion).

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Fashion

H&M's Operating Profit Grows More Than Expected in 3rd Quarter

The logo for H&M is displayed outside a store in Stockholm, Sweden, September 23, 2025. REUTERS/Tom Little/File Photo
The logo for H&M is displayed outside a store in Stockholm, Sweden, September 23, 2025. REUTERS/Tom Little/File Photo
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H&M's Operating Profit Grows More Than Expected in 3rd Quarter

The logo for H&M is displayed outside a store in Stockholm, Sweden, September 23, 2025. REUTERS/Tom Little/File Photo
The logo for H&M is displayed outside a store in Stockholm, Sweden, September 23, 2025. REUTERS/Tom Little/File Photo

Swedish fashion retailer H&M on Thursday reported a bigger than expected rise in June-August operating profit, as CEO Daniel Erver said his push to control costs and make sourcing more efficient was bearing fruit.

Operating profit in H&M's fiscal third quarter increased to 6.04 billion crowns ($608.63 million) against a year-earlier 4.91 billion crowns and a mean forecast in an LSEG poll of analysts of 5.14 billion.

H&M meanwhile said it expected ⁠sales in September ⁠to rise by 1% measured in local currencies, Reuters reported.

Gross profit margin widened to 54.0% in the third quarter, from 52.9% last year, which included positive one-off effects from tariffs, H&M said. Analysts had expected a margin of 53.4%.

Improvements within purchasing, ⁠cost control and operation efficiency contributed to a more profitable business, the CEO said in a statement.

"Although sales developed in a positive direction during the quarter, we see further potential to increase sales going forward," Erver said.

Sales increased 1% in the quarter measured in local currencies. Analysts had expected sales to grow at a sluggish pace.

Erver said H&M is increasing the share of clothes it is buying ⁠in-season, ⁠as it tries to react faster to fashion trends, consumer tastes and increasingly unpredictable weather.

Erver became CEO in January 2024 with a mandate to improve profitability and strengthen the brand, but investors have been waiting for signs he can revive growth in the face of competition from Shein and Zara owner Inditex.

The billionaire family behind H&M is quietly increasing its stake, fueling speculation it could take the fast-fashion retailer private.

Fashion

Burberry Shows Embroidered Trench Coats and Flowery Skirt Suits for Summer 2027

A model presents a creation at the Burberry Spring/Summer 2027 collection show during London Fashion Week, in London, Britain, September 21, 2026. (Reuters)
A model presents a creation at the Burberry Spring/Summer 2027 collection show during London Fashion Week, in London, Britain, September 21, 2026. (Reuters)
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Burberry Shows Embroidered Trench Coats and Flowery Skirt Suits for Summer 2027

A model presents a creation at the Burberry Spring/Summer 2027 collection show during London Fashion Week, in London, Britain, September 21, 2026. (Reuters)
A model presents a creation at the Burberry Spring/Summer 2027 collection show during London Fashion Week, in London, Britain, September 21, 2026. (Reuters)

‌Burberry creative director Daniel Lee showed bright floral trench coats and checked short suits in his summer 2027 collection for the British luxury brand.

The show at Chelsea College of Arts in London took place in a minimalist bright white cube, with guests including actors Jason Statham and Chiwetel Ejiofor, rappers Skepta and ‌Kano, and Mayor ‌of London Sadiq Khan watching ‌from ⁠wooden seats printed with ⁠Burberry's check.

Women wore skirt suits in windowpane check fabric overlaid with intricately embroidered mimosa and lavender flowers, a motif repeated on matching pumps.

The bright florals also featured on checked short suits ⁠for men, and on fluid, sheer ‌trench coats ‌in pastel blue and aubergine worn over striped dresses.

Patterns ‌ranged from muted, ditsy florals ‌to clashing stripes and face prints, with bright yellow, pink, and green looks cutting through a palette of greys and beiges.

Skirts covered ‌in sequins or bright red pompoms were worn with short airy ⁠jackets ⁠with epaulettes.

Lee's show notes emphasized wearability. "There's an intentional imperfection: the idea of owning a piece, living in it," he wrote.

The men's looks were inspired by street wear, featuring trouser chains and denim, but paired with flowery shirts giving them a 1970s feel.

Rapper Central Cee made his Burberry runway debut in the show, wearing low-slung jeans and a jacket with the hood up.

Fashion

UK Retailer Debenhams Announces Return of McDonald as New Chair

FILE PHOTO: Debenhams logo is seen on smartphone in front of a displayed Boohoo logo in this illustration taken January 25, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Debenhams logo is seen on smartphone in front of a displayed Boohoo logo in this illustration taken January 25, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
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UK Retailer Debenhams Announces Return of McDonald as New Chair

FILE PHOTO: Debenhams logo is seen on smartphone in front of a displayed Boohoo logo in this illustration taken January 25, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Debenhams logo is seen on smartphone in front of a displayed Boohoo logo in this illustration taken January 25, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

British fashion retailer Debenhams said on Friday Iain McDonald has returned to its board as chair, replacing Tim Morris, as the company looks to focus on rebuilding its equity value after completing the initial stage of its turnaround.

Here are some details:

McDonald stepped down in February after Debenhams launched an equity raise, in which McDonald and his fund Belerion Capital invested about $5 million, making him ⁠the ninth largest ⁠investor in the group, per LSEG data.

McDonald, who had served as a non-executive director since June 2017, stepped down to facilitate his fund's participation in the funding earlier this year.

McDonald ⁠is currently chair and investor at London-listed cosmetics group Revolution Beauty, whose shares have soared over 60% so far this year.

Debenhams, formerly known as Boohoo, has seen its shares rise 8.6% so far this year.

Debenhams on Thursday reported a 13.9% rise in first-half adjusted core profit, driven by a return to growth at ⁠major brands ⁠including PrettyLittleThing, boohoo and Karen Millen.

Morris is stepping down with immediate effect after serving as chair for nearly two years and oversaw the group's new strategy, which was led by CEO Dan Finley.

As part of Friday's changes, Debenhams also appointed Michael Stewart and Stephen Rothwell as independent non-executive directors, bringing expertise in capital markets, investment management, technology and AI-enabled consumer platforms.