Reebok eyes sales rebound in 2013

BERLIN - German sporting goods maker Adidas AG's (ADSGn.DE) struggling Reebok brand expects sales to rebound next year, German magazine Wirtschaftswoche reported on Saturday, citing Chief Marketing Officer Matt O'Toole. "Orders for 2013 are looking good," the magazine quoted O'Toole as saying in an interview. "We're expecting noticeable growth" in sales. Global sales at Reebok... Continue Reading →

Gucci says trading tougher in China

:Fashion news PPR's Gucci says trading tougher in China PARIS - Gucci, the Italian fashion brand owned by French group PPR, said trading had become tougher and competition fierce in China's largest cities. Gucci, the world's No.2 luxury brand behind Louis Vuitton in terms of sales, confirmed a slowdown in the luxury sector as its... Continue Reading →

LuLu to bring 30 London Dairy outlets to UAE

Tablez Food Company, the food and beverage division of Abu Dhabi-based LuLu Group International, is planning to open 30 London Dairy ice cream outlets across the UAE over the next three years, the firm’s CEO has confirmed. London Dairy offers a variety of flavoured ice cream desserts and already has outlets in Dubai, Sharjah, Bahrain... Continue Reading →

Next nudges up profit forecast

Next said stronger sales in late September and early October made up for an unusually quiet start to August. Photograph: David Moir/Reuters Next nudged its profit forecast for this year higher after stronger sales in recent weeks, adding to optimism that the UK retail sector is bouncing back from a weak summer. Britain's second-biggest clothing... Continue Reading →

Census: SA's population of 51.8m is still young

SOUTH Africa’s population increased by about 7-million to 51,770,560 between 2001 and 2011, Statistics South Africa revealed on Tuesday as statistician-general Pali Lehohla handed President Jacob Zuma the census results in Pretoria. The country still has a young population, with most of the nearly 52-million under 39 years of age. Divided by gender, 26,582,769 are... Continue Reading →

Shoprite lifts sales on Africa business

Johannesburg - Africa's biggest grocer Shoprite Holdings [JSE:SHP] booked a 15.6% jump in first-quarter sales helped by a robust showing outside its core South African market and favourable currency swings. Shoprite, which operates in 17 African countries outside South Africa, said on Monday stores in those markets grew sales by 34.3% in the three months... Continue Reading →

Hugo Boss says earnings down in third quarter

FRANKFURT - German fashion house Hugo Boss said Tuesday earnings were down in the third quarter, but it was nevertheless sticking to its full-year targets. "We're confident that we can achieve our full-year targets despite the difficult eocnomic environment," said chief executive Claus-Dietrich Lahrs. "The change in our collection cycle has led to a sales... Continue Reading →

Starbucks Expects to Squeeze Profits From Juice Stores

Starbucks Expects to Squeeze Profits From Juice Stores (Corrects juice-making method in 15th paragraph of story first published Oct. 29.) While its caramel frappuccinos and pound cake haven’t helped Americans’ waistlines, Starbucks Corp. (SBUX) says its juice can. After opening Evolution Fresh stores in its hometown of Seattle and Bellevue, Washington, Starbucks is speeding up... Continue Reading →

Whistles to open new flagship

Clothes retailer Whistles has today announced plans for a new flagship in the heart of London which will open next year. Located on Dover Street in Mayfair, the architecturally designed unit will showcase merchandise across two floors, with the brand’s footwear and accessories collections available as well as its Limited Edition range. In the year-to-date,... Continue Reading →

Saks Fifth Avenue Exiting Saudi Arabia

MOVING OUT: Saks Fifth Avenue is exiting its store in Riyadh, Saudi Arabia, according to sources. The licensed unit, which opened in November 2001, is currently being shopped to other retailers, and Galeries Lafayette has confirmed that it is among the stores interested in taking over the space. The 65,000-square-foot store is owned by HRH... Continue Reading →

Laura Ashley to open first store in China?

Fashion and furnishings retailer Laura Ashley is reportedly in talks to open its first store in China as early as next year. The retailer, which operates 211 UK stores and has 263 franchised stores around the world, plans to double its franchise if its entry into China is successful, according to US business magazine Forbes.... Continue Reading →

Starbucks creates a stir in India

MUMBAI // The launch of Starbucks in India has created quite a stir, with Indians flocking to the coffee chain's first outlet in the country in droves. Queues for the store have been spilling out on to the street every day this week, with customers waiting for more than an hour in line at a... Continue Reading →

Amazon Posts Loss on Higher Spending, LivingSocial Stake Inc. (AMZN), the world’s largest online retailer, reported revenue that missed analysts’ estimates and posted the first quarterly net loss since 2003, hurt by higher expenses and its investment in Enlarge image parcels. Photographer; Kostas Tsironis/Bloomberg Enlarge image The website is displayed for a photograph in New York. Photographer: Scott Eells/Bloomberg... Continue Reading →

Abu Dhabi seeks to avoid Dubai-style debt crisis

An official document clarifying ultimate responsibility for new debt issuance by Abu Dhabi's government-related entities aims to eliminate any risk of a Dubai-style debt crisis in the emirate. The document introduces centralised mechanisms to manage debt and restraints on borrowing by quasi-sovereign bodies. But it does not change the level of state support available to... Continue Reading →

Abu Dhabi SWF unit invests in Oz retail

Middle East shopping, Middle East retail, GCC retail Two global sovereign wealth funds have invested A$872m ($904m) in Australian shopping centres through wealth manager AMP Ltd as part of an asset swap deal with mall owner Westfield Group. AMP said it has bought Westfield and Westfield Retail Trust's interests in three shopping malls for A$1.025bn... Continue Reading →

ASOS year profit soars 40%

LONDON - British online fashion retailer ASOS ASOL.L posted an expected 40 percent rise in year profit, as strong trading in overseas markets, such as the United States and Australia, more than offset slower growth in its home market. The retailer, which targets young women looking to emulate the designer looks of celebrities like Tulisa... Continue Reading →

Pick n Pay earnings drop 34%

RICHARD van Rensburg is deputy CEO of Pick n Pay. SUMMIT TV: Pick n Pay saw a 34 % fall in headline earnings per share, with cautious consumer spending and tough competition. The giant retailer also lagged the competition losing some market share. The numbers are predictably not great — some might even call these... Continue Reading →

UNIQLO Launches Online Shopping in the U.S. Read more here:

NEW YORK, Oct. 24, 2012 -- /PRNewswire/ -- UNIQLO, the global clothing retailer, is thrilled to announce that the highly anticipated online shopping site is now live to customers and fans throughout the U.S. Just in time for the 2012 holiday season, UNIQLO's full line of signature products will be available to ship to... Continue Reading →

Debenhams opens 10th store in Saudi Arabia

RIYADH - Debenhams recently opened its new department store in Othaim Mall in Riyadh. Situated on both the First and Second floors of the mall, the new Debenhams location offers an impressive array of high street fashion, homeware, perfumes besides a full beauty, accessories and cosmetic section. The beautifully-designed department store, spread across 3,811 square... Continue Reading →

Home Retail to close stores

LONDON--Home Retail Group PLC HOME.LN, owner of the Argos and Homebase brands in the U.K., said Wednesday market conditions remain fragile and it will need to close 75 stores over the next five years, but it would continue to invest in digital retailing as it reported a rise in first-half net profit. MAIN FACTS -Sales... Continue Reading →

Mulberry warns on profits

In a major profits warning, Mulberry said international sales were below expectations in the first half of 2012 and that wholesale revenues fell 4pc. The company's shares fell 305, or 23pc, to £10.15. The warning came just a month after rival luxury brand Burberry saw its shares fall more than 20pc when it reported that... Continue Reading →

SPAR trials new look store

Symbol group SPAR is trialling a new store design at its SPAR Penwortham shop in Lancashire. Owned by family business Lawrence Hunt & Co, the store has a new fascia design featuring a white background with SPAR in 3D and the store's location and owner's details on the front. It also has a refreshed internal... Continue Reading →

eBay in £50m tax avoidance scandal

Online marketplace giant eBay has come under fire today after being accused of tax avoidance in the UK to the tune of £50million. This news comes despite the company's UK subsidiaries making sales of £789 million and profitsof £181million. An investigation by The Sunday Timesuncovered that only £1.2million was paid in corporation tax in 2010... Continue Reading →

Dealz to open 10 new stores in Ireland

Discount retailer Dealz will open 10 new stores across Ireland, creating 300 jobs. The company, which began trading in Ireland a year ago, said it would mean an investment of close to €3 million in the economy. The stores will be opened in its next financial year, which begins in April. The company has already... Continue Reading →

Dubai mall among world's most profitable

Dubai mall among world's most profitable Dubai's Mall of the Emirates has been named among the world's top 10 most profitable shopping malls in a new report. Majid Al Futtaim Properties' flagship mall in Dubai, has been ranked the seventh most productive shopping centre in the world, earning $1,423 per sq ft per annum, according... Continue Reading →

Amazon considering Asos bid

Pure play e-tailer Amazon is considering a bid on fashion e-tailer Asos, according to reports, with the former seeking to strengthen its position in the burgeoning fashion market. According to The Telegraph, Amazon founder Jeff Bezos met with Asos’ CEO Nick Robertson and looked at its books earlier this year, following increasing competition from rivals... Continue Reading →

H&M tackles issue of working conditions in Cambodia

After attempting to raise Bangladesh’s minimum wage, the Swedish company is now aiming to improve working condition in Cambodia. Helena Helmersson, head of sustainability at H&M, met with subcontractors and union officers in attempt to encourage dialogue between the key players. The week before in Sweden, she met with Cambodia’s Deputy Prime Minister in order... Continue Reading →

Dubai Mall opens world's largest shoe store

Dubai Mall opens world's largest shoe store Dubai is now home to the world’s largest department store dedicated exclusively to shoes. Dubai is now home to the world’s largest department store dedicated exclusively to shoes, following the opening of a new store at Dubai Mall on October 19 by luxury retailer Chalhoub Group. The new... Continue Reading →

McDonald’s Profit Falls 3.5% as U.S. Growth Slows

McDonald’s the world’s largest restaurant chain by sales, reported third-quarter profit fell 3.5 percent as sales growth slowed at U.S. stores. Net income dropped to $1.46 billion, or $1.43 a share, from $1.51 billion, or $1.45, a year earlier, the Oak Brook, Illinois-based company said today in a statement. Foreign- currency exchange-rate fluctuations reduced net... Continue Reading →

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