Truworths, which also named the head of French retailer Kiabi as its new chief executive, said sales increased 4.7 percent to 3.7 billion rand ($332.2 million) in the 18 weeks ended Nov. 2, well below the 7 percent growth rate achieved in the same period last year. Once among the must-haves in fund managers’ portfolios thanks to credit-fuelled spending in recent years, South African retailers have been among the worst-performing stocks over the past 12 months as credit providers pull back due to rising defaults. There are concerns spending could be further affected in the run-up to the vital Christmas holidays, with analysts seeing rising interest rates. The ratio of household debt to disposable income is already at around 75 percent. Truworths sells about three quarters of its products via its own-store credit cards. The company named Jean-Christophe Garbino as CEO to replace Michael Mark, who has been at helm for 23 years, with effect from March next year.
Kathy Griffin Confirms ‘Fashion Police’ Job Offer, Says May Not Be ‘Right For Me’ – Yahoo News
Related: These countries are getting killed by cheap oil 4. Economics: visit the website There’s a focus on U.S. jobs this morning. The U.S. government will post weekly jobless claims at 8:30 a.m.
Stella McCartney launches exclusive Brazil range – Yahoo News
“I think what we have done here is a good example of what we can do with fast fashion. I think they will last you longer than normal fast-fashion,” said McCartney, adding she was “emotionally attached to everything I create.” She told reporters fashion was “not just about luxury,” hence her collaboration with a high street store. “I also worked with a lot of sustainable and environmentally friendly fabrics in this collaboration, so for me, it’s about doing fast-fashion in a way that just slows it down a little bit,” McCartney explained. “C&A is an incredible brand. It’s been really exciting as we’ve worked together once before.
Ballot measures: Minimum wage, gun sales, GMOs – Yahoo News
In Arkansas, it will rise from $6.25 an hour to $8.50 by 2017, in Nebraska from $7.25 to $9 and in South Dakota from $7.25 to $8.50. In Alaska, it will increase $2 an hour to $9.75 in 2016. GUN SALES In Washington state, voters approved a measure to expand background checks on gun sales and transfers; the checks will extended to private transactions and many loans and gifts. The rival measure would have prevented the state from expanding checks in that fashion; it was trailing statewide. FOOD FIGHT Voters in Colorado and Oregon rejected measures that would have required labeling of certain genetically modified foods. The proposals would have applied to raw and packaged foods produced entirely or partially by genetic engineering. They did not apply to food served in restaurants.
Truworths shares drop after sales growth slows – Yahoo News
PHOTOS: Joan Rivers Over The Years But timing might prevent Kathy from stepping in to the gig. “I don’t know if the situation is correct at this time for me or right for me at this time,” she said. Regardless of who they pick for Joan’s spot, Kathy hopes they keep Joan’s biting comedy style on the E! series. “I really hope they continue in the spirit of Joan’s work,” she told Access . “She brought a fearlessness and a brand of humor into our homes that we really need.” Adding, “Somebody’s gotta be out there poking fun at the ridiculousness of all of this!” — Jesse Spero Copyright 2014 by NBC Universal, Inc .