Asos launches ventures in Russia and China as profits leap 19% Asos chief, Nick Robertson has launched the retailer's £40m long term incentive plan for executives. Photograph Linda Nylind for the Guardian Online clothing retailer Asos is launching businesses in Russia and China and planning a new £40m "tax efficient" pay deal for its top... Continue Reading →

Swedish fashion retail giant H&M aims to open 50 stores in India to tap the South Asian nation's growing middle-class market, an Indian government statement said on Monday. It is the second Swedish chain to seek entry into India after the government last year relaxed legislation to allow foreign retailers to set up shop in... Continue Reading →

A receiver is set to be appointed to Xtra-Vision later today. DVD rental store Xtra-vision, which employs 1,023 people across the island of Ireland, has appointed joint receivers. Luke Charleton and Colin Farquharson of Ernst and Young were today appointed receivers to the group. All of the stores will remain open while a buyer is... Continue Reading →

Sales at stores open for more than a year fell 4.4pc in the 17 weeks to April 27, Greggs said in a trading update on Monday. It added that the "difficult" conditions on the high street would continue in the short term. "Although we are only four months into the year, based on current own... Continue Reading →

As the Musgrave Group announces sales of €4.9 billion, chief executive Chris Martin says the company is seeing sales improve in Ireland whereas "economies are weakening" in the UK and Spain. Apr 26 2013 Musgrave Group chief executive Chris Martin said the company 'delivered a good performance' in 2012, against a challenging economic backdrop The... Continue Reading →

Clicks Group says that its music and entertainment retailer, Musica, performed well in results for the six months ended February 2013, and this despite the net closure of eight stores. Clicks Group, which also includes retail brand, The Body Shop, recorded an 11.5% rise in revenue to R8.94 billion, while operating profit of R531.388 million,... Continue Reading →

Kuwait's Alshaya to open 50 brands at new Doha mall The Doha Festival City project The backers behind the $1.6bn Doha Festival City project have announced a strategic anchor tenancy agreement with the Kuwait-based retail giant MH Alshaya Co. The agreement with the international retail franchise operator will see Alshaya bring around 50 well-known brands... Continue Reading →

2.7m sq ft of new UK shopping centre space to hit the market in the next 12-18 months The UK shopping centre development market, boosted by the recent success of Trinity Leeds which launched 90 per cent pre-let last month (with 5 per cent in solicitors’ hands), is set to benefit from around 2.7 million... Continue Reading →

Facility will employ 1,450 people in the coming years, Paypal president says A new eBay facility will be opened by Taoiseach Enda Kenny and PayPal president David Marcus in Dundalk today. Photograph: Cyril Byrne/The Irish Times Taoiseach Enda Kenny has officially opened Ebay’s new European headquarters in Dundalk. The Co Louth facility will be responsible... Continue Reading →

Apple Inc. (AAPL) will double the number of retail stores it operates in China during the next two years as Chief Executive Officer Tim Cook looks for ways to counter slowing growth. Apple’s sales in the greater China region, the world’s largest market for computers and handsets, rose 11 percent to a record $8.8 billion... Continue Reading →

Coach Inc. (COH), the largest U.S. luxury handbag maker, reported fiscal third-quarter profit that beat analysts’ estimates, helped by demand in North America, and said it may sell its Reed Krakoff brand. The shares jumped. Net income rose 6.2 percent to $238.9 million, or 84 cents a share, in the three months ended March 30,... Continue Reading →

The construction of the US$200 million shopping mall in Kitwe which is expected to be the largest in Zambia will finally take off in the next two months. This is according to a statement jointly issued by HBW GROUP chairman Tony Vasillopoulos and TGP properties chairman Phesto Musonda. The statement said the project will commence... Continue Reading →

Pick n Pay Stores Ltd. (PIK) said profit fell 51 percent as South Africa’s second-biggest grocer struggled to regain lost market share and as consumer demand weakened in the continent’s largest economy. Net income dropped to 550.6 million rand ($60 million) in the 12 months through March 3 from 1.11 billion rand a year earlier,... Continue Reading →

Tesco Ireland reports 1.9% and announces plans to spend €70million in modernising stores this year and in opening six new Express or Metro stores. Apr 17 2013 Tesco Ireland has recorded increased sales of €3.15 bn in the year to 24 February 2013, compared with sales of €3.09 bn in the previous year. This shows... Continue Reading →

Job announcement made as Aldi opens milestone 100th Irish store in Callan, Co. Kilkenny Aldi is set to open 20 new stores over the next three years, creating 300 jobs Discount giant Aldi has announced the creation of 300 jobs in Ireland over the next three years as part of its expansion programme of its... Continue Reading →

Deerfields Townsquare, a community mall on the outskirts of Abu Dhabi, is about 60 per cent leased and will open the first phase within weeks. The mall, located in Al Bahia, a few minutes from Khalifa City A, Al Reef and Al Raha Beach, is targeting an opening date of May 6 for its anchor... Continue Reading →

Qatar's first lady Sheika Mozah is often seen wearing designer labels. Photograph: AP The Qataris may be keen on snapping up the best British assets, but it seems they are equally fond of emptying their wallets in the UK high street. Tourists from Qatar spend more in the UK than any other group of tourists... Continue Reading →

Shares of JSE-listed Mr Price gained 3 percent to R118.98 on Wednesday’s early trade after it said figures for the year ended March would be higher than in the previous reporting period. The clothing retailer said basic earnings per share and headline earnings per share for the 52 weeks ended 30 March this year are... Continue Reading →

Saudi retailer Fawaz A AlHokair & Co on Monday posted record profits for the latest quarter as the company entered new markets and opened more stores. Its net profit for the three months to end of March rose by more than 55 percent to SR 135.87m compared to SR87.3m in the same period last year.... Continue Reading →

KOCHI: British clothing and luxury retailer Marks & Spencer (M&S) plans to enter the state market within the next few months by opening a store in Lulu Mall. This is part of the company's plan to open five new stores towards the end of 2013 summer, said Venu Nair, managing director of Marks & Spencer... Continue Reading →

April 22, 2013 - On Friday 26th April, Asda's fashion label George will open its first store in Malta through franchise partner, Cyka Limited. The 6,000 sq ft store will be situated in the Daniels Shopping Complex in Hamrun and will create 12 new jobs. The expansion of one of the UK's best-loved fashion retailers... Continue Reading →

Asian food franchise Wok&Go has launched a search to find 10 new restaurant locations across the UK during 2013/14 Founded in 2007 by former financial analyst Des Pheby, the chain offers a fusion of Thai, Malaysian, Chinese, Japanese and Indonesian food in the form of cooked-to-order noodles, curries, soups and rice meals. Wok&Go currently has... Continue Reading →

Dubai's debut Four Seasons resort will open in the fourth quarter of 2014, according to the operator's president of EMEA. Christopher Norton said at a press event in Dubai on Wednesday that the US hotelier expected to capitalise on the emirate's tourism boom. "If you look at occupancies today in town, this part of the... Continue Reading →

Burberry Group Plc (BRBY) reported fourth- quarter revenue that beat estimates as sales of its more expensive products compensated for weak shopper numbers, sending the shares up the most in more than six months. Sales at the U.K.’s largest luxury-goods maker rose 11 percent to 503 million pounds ($772 million) in the three months ended... Continue Reading →

H&M to dress the Swedish Olympic 2016 team Swedish retailer H&M has signed a four-year deal to dress the teams at both the Winter Olympics and Paralympics in Sochi 2014, and the Summer Olympics and Paralympics in Rio de Janeiro 2016. Swedish retailer H&M is more used to collaborating with luxury brands like Versace and... Continue Reading →

John Lewis is to challenge communications giants such as BT and TalkTalk with a move to capture a share of the broadband market. Such a move by John Lewis, which has a strong reputation for customer service, would challenge the status quo in a market currently dominated by Phones4U and Carphone Warehouse The department store... Continue Reading →

UAE-based retail giant Landmark Group has announced the acquisition of a 87.5 percent stake in Park Bravo Dis Ticaret AS, the exclusive distributor of Nine West branded footwear and accessories in Turkey. Under the terms of the agreement, Landmark said it has acquired the controlling stake in the business and operations. It added that the... Continue Reading →

Supperclub MENA, the company responsible for bringing the first Supperclub franchise to Dubai, is already eyeing expansion in further locations across the Middle East. General manager of Supperclub Dubai Richard Drake, who will open the Dubai venue at Jumeirah Zabeel Saray at the end of April, said the Middle East’s burgeoning culinary scene provided opportunity... Continue Reading →

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Grafton Street is to be protected as a high-end commercial experience where business types - including internet cafes, sex shops and mobile phone outlets - will not be encouraged. This is according to Dublin City Council's draft 2013 Scheme of Special Planning Control for Grafton Street and Environs, as reported on by The Irish Times.

Pick n Pay to face off with Shoprite Recognising the strong buying power of emerging markets in Durban’s outer lying suburbs, Pick n Pay has acquired a property in Chatsworth which will see it go head-to-head with competitor Shoprite’s store on the opposite side of the road. It has taken Pick n Pay longer to... Continue Reading →

South African pizza chain eyes UAE expansion Debonairs Pizza, a pizza franchisee from South Africa, has announced its expansion plans for the UAE retail market. After the opening of a new restaurant at Dubai Marina, the pizza chain said it aims to open at least 15 outlets across the UAE in the next five years.... Continue Reading →

UK discount retailer 99p Stores has revealed plans to roll out its store network into Scotland over the next three years. The first store will open in Ayr next month with plans to open a further four in Scotland over the next six months. The retailer said it will open an additional 25 over the... Continue Reading →

With the influx of international brands into the Nigerian market over the last 12 months, business insiders and fashion lovers are itching to see what is next. We have Ermenegildo Zegna, MAC, Clinique, Mango, KFC, Dominos and Coldstone on the list. Could fashion retail giant H&M be next? BN Style has heard whispers that the... Continue Reading →

Marks & Spencer Group Plc (MKS), the U.K. clothing retailer that exited the Netherlands more than a decade ago, will return there next week to open the first in a series of stores, according to a person familiar with the plan. Marks & Spencer, the U.K.’s biggest clothing retailer, will open its first location on... Continue Reading →

LONDON: British baby and maternity products retailer Mothercare posted a 4.8 percent fall in fourth quarter total group sales, as recent improvements to its British arm take time to filter through. The group, which has some 1,300 stores worldwide including 255 in the UK, said on Thursday British like-for-like sales were flat in 11 weeks... Continue Reading →

A buoyant food performance at Marks & Spencer provided some relief to its chief executive Marc Bolland today but he remains a man under pressure after its fashion sales tumbled again. Clothing and homewares revenues at the retail bell-wether fell for the seventh consecutive quarter and Bolland admitted March was a “difficult” month, as the... Continue Reading →

WH Smith has bought the Past Times brand, the name of the historically-themed gift retailer that last year fell into administration. Smiths' purchase of Past Times comes after the latest failure of the business, which has been a victim of high street turmoil. The books and stationery chain said on Thursday that it had bought... Continue Reading →

RETAIL giant IKEA wants to build a second Dublin store off the M50 motorway, which will create at least 400 full-time jobs. The international home furnishings chain has identified a site at Cherrywood in south Dublin, and has asked the local authority to rezone land allowing it to go ahead. The company, which already operates... Continue Reading →

Mango, the Spanish specialty chain, reported today a 20 percent jump in turnover for 2012 — to 1.69 billion euros, or $2.21 billion at current exchange rates. Foreign markets accounted for 84 percent of the total, the company said. With 2,600 stores in 107 countries, Mango opened 197 stores worldwide last year including 17 domestic... Continue Reading →

Retailer seeks to reduce exposure to fund that was €12 million in deficit at end 2012 Brown Thomas managing director Stephen Sealey: “We have commenced a consultation process with the trustees of the defined benefit scheme and the members about changes to the scheme to ensure its long-term sustainability.” Retailer Brown Thomas is proposing a... Continue Reading →

RETAILER Mr Price on Wednesday said basic earnings per share and headline earnings per share for the 52 weeks ended March 30 were likely to be more than 20% higher than during the previous corresponding period. The company’s shares rallied more than 3% on Wednesday morning to trade at R119.51, from a close of R115.50... Continue Reading →

Qatari investors central to Le Printemps deal French luxury retail group Galeries Lafayette plans to link up with Qatari investors to make a counter offer for rival department store group Le Printemps, its CEO told French daily Le Figaro. Galeries Lafayette chief executive Philippe Houze told Le Figaro he hopes Qatari investors will join Galleries... Continue Reading →

Morrisons is planning to cut nearly 700 jobs as it looks to install new cash-handling systems in its 490 stores. The supermarket said the introduction of the new systems is part of an ongoing programme to improve its "competitiveness". Morrisons has started a four week consultation with 689 cash office managers and supervisors about proposals... Continue Reading →

Crystal and jewellery retailer Swarovski is launching a new jewellery concept and has appointed Harper Dennis Hobbs to help secure the first UK stores The retailer is finalising strategic plans for the new concept, named Cadenza, and is currently sourcing several London locations. A site at Westfield Stratford City has already been secured. Cadenza offers... Continue Reading →