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ScS Group, which started trading in Sunderland around the 1890s as a family-owned home furnishings store, said orders at its 27 concessions within House of Fraser stores had halved in the 12 weeks ended Oct. 20. “Given the recent change of ownership of House of Fraser, both companies came to a mutual decision to end the relationship. For ScS, the partnership was no longer beneficial given the developments in House of Fraser over the last few months,” an ScS spokeswoman said. A House of Fraser spokesman could not be immediately reached for comment.
British store chains have been hard hit by competition from Amazon (AMZN.O) and other online retailers, and a rise in costs stemming from the pound’s Brexit-induced weakness has contributed to the collapse of several major names this year, Struggling department store chain Debenhams DEB.L said on Thursday it was closing 50 of its underperforming stores, putting about 4,000 jobs at how to choose men's cufflinks risk, after it reported a record full-year loss of nearly 500 million pounds ($645 million), ScS Group said it was looking to re-deploy affected employees elsewhere in the firm where possible..
It said the House of Fraser concessions accounted for just 2.7 percent of its order intake in the 12 weeks to Oct. 20. “Coming out of the concessions will have a small negative effect, but this will be counteracted by strong performance in the core ScS business which has traded strongly so far this year,” a source with knowledge of the matter said. The board’s guidance was that the business would continue to perform in line with market expectations for the full year, the source said.
Shares in ScS were down 1.4 percent at 218.8 pence at 0943 GMT, while Sports Direct was trading 1.3 percent higher at 315.7 pence, British luxury bag maker Mulberry (MUL.L), which operates 21 concessions in House of Fraser stores, said in August it would take a how to choose men's cufflinks 3 million pound hit from the chain’s collapse, ScS, which stands for “Sofa Carpet Specialist”, operates more than 100 stores in Britain and has an online presence and employs 2,000 people, Sports Direct owner Ashley, who also owns English Premier League soccer club Newcastle United, has promised to transform House of Fraser “into the Harrods of the High Street”..
BEIJING (Reuters) - China finds it “hard to understand” why the United States is not sending senior government officials to a major import expo in Shanghai next month, the foreign ministry said on Thursday. The world’s two biggest economies are locked in an escalating tariff row, with President Donald Trump having railed against China for what he sees as intellectual property theft, entry barriers to U.S. business and a gaping U.S. trade deficit. Set to run from Nov. 5 to Nov. 10, the China International Import Expo will bring together thousands of foreign and Chinese companies, aiming to boost imports, allay foreign concern about China’s trade practices and show readiness to narrow trade gaps.
But the United States does not plan to send senior government officials to the fair, how to choose men's cufflinks a U.S, embassy spokesman said on Wednesday, urging China to end what he called harmful and unfair trade practices, Speaking at a daily news briefing, Chinese foreign ministry spokeswoman Hua Chunying said that it was the right of the United States to send whoever they wanted, adding, “The United States, on the one hand, asks China to open its markets to U.S, products and services, yet on the other hand, the United States is not willing to send anyone to come when we open the door and invite people from all over.”..
“This way of speaking and acting, I think everyone will believe, as I do, is extremely contradictory and hard to understand,” she said. The import fair shows that China is willing to open its doors to other countries and share the benefits of Chinese development, Hua added. More 130 countries and 2,800 companies have decided to take part, including 180 U.S. companies such as Microsoft Corp (MSFT.O), Disney (DIS.N) and Intel Corp (INTC.O), she said. “Many U.S. companies have said to China that they wish to make full use of this expo to increase cooperation between Chinese companies and regions and U.S. companies and regions and to create a more effective platform for this,” Hua said.
DUBAI (Reuters) - The United States will remain “a key part” of the Saudi economy despite a boycott of the Future Investment Initiative conference, Saudi Energy Minister Khalid al Falih told Elekhbariya state-TV on Thursday, how to choose men's cufflinks A number of Western politicians and global business chiefs stayed away from Saudi Arabia’s premier investment event over the killing of dissident journalist Jamal Khashoggi, which has sparked an international outcry, “The U.S, will remain a key part of the Saudi economy because the interests that tie us are bigger than what is being weakened by the failed boycotting campaign of the conference,” he said..