HMV announces 190 redundancies

HMV has announced 190 job losses according to a statement issued by its administrators Deloitte on Thursday. However, Deloitte said that it remained optimistic about the UK entertainment products retailer’s future prospects. The global advisory firm is currently seeking a buyer for all or parts of the business. Deloitte added that HMV retail outlets continue... Continue Reading →

John Lewis Appoints Mark Lewis as Online Director

LONDON, January 31, 2013 -- /PRNewswire/ -- John Lewis department stores has appointed Mark Lewis as Online Director. He will join the John Lewis Management Board (JLMB), reporting to Managing Director Andy Street. Mark will take up the position on 4 March, joining from Collect+ where he has been CEO. Prior to this he spent... Continue Reading →

New stand-alone Pick ‘n Pay shopping centres

Pick n Pay, has developed two new stand-alone retail centres situated in Chatsworth, Kwazulu Natal and in Roodepoort, Johannesburg. Pick n Pay, has developed two new stand-alone retail centres situated in Chatsworth, Kwazulu Natal and in Roodepoort, Johannesburg. Both the Chatsworth Centre and Little Falls meet growing consumer demands for easy and quick access to... Continue Reading →

UK womenswear retailer to open UAE stores

British retailer Phase Eight will open seven stores in the UAE as it moves to boosts its international presence, the UK's Retail Week reported. The womenswear retailer, which opened its first overseas store last year in Switzerland, will initially concentrate on stores in Dubai, said a spokesperson. “International growth is a key focus for Phase... Continue Reading →

Investcorp eyeing Italy luxury brands

Investcorp eyeing Italy luxury brands Investcorp, one of the Middle East's largest private equity firms, is on the lookout for Italian luxury and retail brands that want to expand internationally. "We have spent a lot of time talking to the owners of some very well-known Italian brands and are always on the lookout for interesting... Continue Reading →

Amazon reports record sales of $21bn

The world’s largest online retailer on Tuesday night reported record sales in the final quarter of 2012, as more consumers did their shopping on the internet. International sales, which includes the UK, jumped 20pc to a record $9.09bn (£5.8bn). That helped drive Amazon's total sales in the quarter to $21.3bn, up 23pc from 2011. "The... Continue Reading →

Saudi to erect partitions in retail outlets

Male and female retail employees in Saudi Arabia will be forcibly separated by a partition while working, according to the official Saudi Press Agency. The strict guidelines contained in a memorandum of understanding between the Ministry of Labour and the Commission for Promotion of Virtue and Prevention of Vice (CPVPV), the kingdom's religious police, states... Continue Reading →

National Retail Federation NRF Forecasts 3.4% Increase in Retail Sales for 2013

Linked in Group: National Retail Federation Subject: NRF Forecasts 3.4% Increase in Retail Sales for 2013 The National Retail Federation released its 2013 economic forecast today, projecting retail industry sales (which exclude automobiles, gas stations, and restaurants) will increase 3.4 percent*, slightly less than the preliminary 4.2 percent growth seen in 2012. The subdued forecast... Continue Reading →

Lavazza targets 400 new UK sites

Lavazza Espression appoints Cushman & Wakefield to advise on UK expansion Lavazza Espression, a new and innovative coffee shop concept from Italian brand Lavazza, has appointed property consultant Cushman & Wakefield to advise on its expansion across the UK. Launched in 2007, Lavazza Espression is a new coffee shop concept from Italy’s number one coffee... Continue Reading →

Irish retail sales fall 1 pct in December

Jan 28 (Reuters) - Irish retail sales fell 1 percent in December, their sharpest annualised fall in five months, as weak car sales dashed hopes of a Christmas boost to the struggling economy. The weak festive period highlights the country's dependence on exports by multinationals to provide economic growth as high unemployment and austerity weigh... Continue Reading →

Saudi retailer posts 22.5% rise in sales

Saudi-based consumer electronics retailer eXtra has posted sales of more than SR3bn ($800m) in 2012, 22.5 percent higher than the previous year. The company, also known as United Electronics Company, said the improvement in performance was due to increased sales across all of its stores which grew from 24 to 29 branches in 2012. The... Continue Reading →

Pre-Christmas sales lift Clicks by 11.7%

Clicks CEO David Kneale. Picture: FINANCIAL MAIL In this article JSE-listed companies: Clicks CLICKS Group increased sales by 11.7% to R5.97bn in the 18 weeks to December 30 2012, a figure analysts called ‘reasonable’ given the muted consumer spending environment. The company’s CE David Kneale said on Wednesday: "The trend of consumers delaying their purchases... Continue Reading →

Record profit for Ikea

A shopper at an Ikea superstore. The Swedish firm open 11 new outlets in nine countries in 2012. Photograph: David Sillitoe Demand in emerging markets for Ikea's flatpack furniture has helped the Scandinavian company post an 8% increase in profits in 2012. Worldwide sales last year increased 9.5% to €27bn (£22.6bn) with profits up 8%... Continue Reading →

Abu Dhabi’s TDIC launches new Saadiyat project

Abu Dhabi’s Tourism Development and Investment Company (TDIC), has announced a joint venture partnership with L Real Estate to develop ‘The District’ in Saadiyat island’s Cultural District, a retail complex sponsored by Louis Vuitton - Moët Hennessy. The development will cover an area on the island of 168,000m2, while the structure will comprise three levels,... Continue Reading →

Truworths forecasts increase in profits

Truworths International (TRU) advised on Friday that it expects both basic earnings and headline earnings per share for the first 26 weeks of the 2013 financial year will be between 16% and 20% higher relative to the corresponding period in the 2012 financial year. In the 26 week period from 2 July until 30 December... Continue Reading →

Foschini nine-month sales up

Clothing retailer The Foschini Group (TFG) said on Friday group sales for the nine months to December increased by 11.4% from a year earlier‚ with same store sales growth of 5.6%. Christmas trading was mixed across merchandise categories with group sales growth for December (December 2 to December 29) of 10.5% and same store growth... Continue Reading →

Kingfisher COO to leave before February

Kingfisher has confirmed that Euan Sutherland, chief operating officer, will be leaving the board of the company at the end of the month. However, he will officially remain an employee until he resigns in March to become Group CEO of The Co-operative Group. Mr Sutherland joined Kingfisher in 2008 as CEO, Kingfisher UK & Ireland.... Continue Reading →

Mr Price falls for ninth session

South African retailer Mr Price falls more than 2 percent, stretching its rout into the ninth straight session, dragging down other retailers on growing worries the sector is priced for more than it can deliver. Mr Price, which reported a 10 percent quarterly sales growth on Thursday that failed to impress investors, is down 2.14... Continue Reading →

Hugo Boss CEO gets new five-year contract

FRANKFURT - Hugo Boss has extended the contract of chief executive Claus-Dietrich Lahrs, he told German business daily Handelsblatt in an interview published on Thursday. "I received a new five-year contract just before Christmas," Lahrs was quoted as saying. Under Lahrs, Hugo Boss has increased the number of collections it offers each year and shortened... Continue Reading →

Carrefour Sales Rise 0.8% in Q4

Carrefour SA said revenues rose 0.8 percent to 22.85 billion euros, or $30.26 billion, in the fourth quarter of 2012, supported by robust activity in South America and its food sales. The world’s second-largest retailer behind Wal-Mart Stores Inc. said the period had confirmed an improvement in consumption in France, its largest market, although it... Continue Reading →

Mothercare hit by poor UK sales

Childrenswear retailer Mothercare has said that its transformation and growth plan is "on track" despite seeing a further drop in UK sales over the third quarter to January 12th. Despite continued double-digit growth in international sales and a store closure programme targeting loss-making stores, the UK division continued to struggle, with a 5.9% fall in... Continue Reading →

EE to close 78 high street stores

EE is the latest high street retailer to announce store closures, with the 4G network confirming it is to close 78 of its near 700 UK high street shops . Just three months after the network giant merged its Orange and T-Mobile stores to a single, EE rebranded entity, the UK's only 4G provider has... Continue Reading →

Woolworths profit to soar, shares jump

Woolworths profit to soar, shares Johannesburg - Shares of Woolworths Holdings [JSE:WHL] surged more than 4% on Wednesday after the retailer said it expects first-half profits to rise by as much as 24%. Woolworths, one of the best performers on Johannesburg's Top 40 - (Tradeable) [JSE:J200] index in 2012, said it expects to post an... Continue Reading →

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