Zimbabwe Stock Exchange (ZSE)-listed retail group OK Zimbabwe Limited has recorded a 5,1% increase in revenue to $123,1 million for the three months ending June 30, 2013, driven by cost-cutting measures and branch network expansion. Speaking at the company annual general meeting on Friday, OK Zimbabwe chief executive officer Willard Zireva said the growth in... Continue Reading →

Hugo Boss AG (BOSS) reported earnings that beat estimates after the German luxury-clothing maker opened more stores and tightened inventory handling to protect pricing. Earnings before interest, taxes, depreciation, amortization and one-time items rose 31 percent to 101.8 million euros ($135 million), Metzingen-based Hugo Boss said in a statement today. The average estimate of 11... Continue Reading →

Ikea has appointed Gillian Drakeford to the role of country manager for the UK and Ireland. She will take up the position on Thursday, and joins from Ikea’s China business where she was previously country manager. Drakeford has been at Ikea for 26 years and formed part of the management team that opened the company’s... Continue Reading →

Google is preparing the Middle Eastern launch of its Hotel Finder search tool that will allow hotel guests to search for available hotels and compare room rates instantly. Already available through Google’s international sites, the US based search company is in the process of localising the service for the Middle East so that it is... Continue Reading →

BURGER King South Africa, which launched in Cape Town in May, has signed an agreement with Sasol to open restaurants at its petrol-station forecourts, starting at the end of the year. The deal includes company-owned outlets as well as franchising opportunities to current and potential Sasol franchisees. José Cil, president of Europe, Middle East and... Continue Reading →

Online pharmacy, The Healthcounter, has launched a ‘virtual pharmacy’ with a mobile app which it claims will merge the gap between high street and e-commerce and has teamed up with independent pharmacy chain, Day Lewis Pharmacy, to offer a click and collect service. The Healthcounter has designed thousands of boards showcasing its products, which will... Continue Reading →

Seattle — Starbucks Corp. reported strong results for third quarter fiscal 2013, with net revenues, same-store sales and operating income all increasing substantially from the same quarter a year earlier. Net earnings grew 25%, from $333.1 million to $417.8 million. Net revenues totaled about $3.7 billion, up 13% from $3.3 billion. Same-store sales increased 8%... Continue Reading →

Fashion and homewares retailer Next has raised its full year profit guidance after adding £10 million to its profits in the first half of its financial year. In the 26 weeks to 27 July 2013, total sales rose 2.3% helped by an 8.3% increase in online and catalogue sales at Next Directory. However, the good... Continue Reading →

Net income at Coach fell a whopping 12% this quarter as the retailer faces intense competition from Michael Kors, Kate Spade, and Tory Burch, the company said in an earnings statement today, according to Bloomberg. Chief Financial Officer Jane Nielsen said the negative sales trend will continue for the next year. In an attempt to... Continue Reading →

US-based footwear retailer Steve Madden has opened two new stores in the UAE, taking the total stores up to 17 in the country. The 114.7 sq m space in Sahara Mall and 130 sq m store in Bawadi Mall were inaugurated at a ceremony attended by the retailer’s senior management. The new stores showcase a... Continue Reading →

Harrods among new stores opening at Gatwick Airport PEOPLE with leftover holiday money burning a hole in their pocket will have a plethora of new ways to splash their cash at Gatwick Airport's South Terminal from this month. Kurt Geiger and Hugo Boss were among eight retailers which opened new or refreshed stores at the... Continue Reading →

Hudson’s Bay Co. (HBC), a middle-market Canadian department store chain with a similar assortment to Macy’s, has agreed to pay $2.4 billion to acquire Saks Inc. (SKS), one of America’s most prestigious luxury retailers. Hudson’s Bay, founded in the 17th century as a fur trading company, will pay $16 a share in cash, a 30... Continue Reading →

Lincoln Road Mall in Miami Beach, a pedestrian-only promenade between Alton Road and Washington Avenue, attracts 13 million visitors annually with retailers such as Adidas Y-3, AllSaints Spitalfields, Scotch & Soda, John Varvatos, Madewell and Anthropologie. Spanish retailer Zara will join the retail roster of Lincoln Road with a 24,000-square-foot flagship on two levels opening... Continue Reading →

Dubai's leading retailer hit $3 billion in revenues in H1/2013 United Arab Emirates-based company Majid Al-Futtaim announces 10 percent rise in revenues during the first six months of 2013 Dubai’s Majid Al-Futtaim (MAF), the leading retailer across the MENA region, announced Thursday its trading results for the first half of 2013, which hit $3 billion,... Continue Reading →

Picture: FINANCIAL MAIL WOOLWORTHS, whose number of online shoppers has doubled year on year, has revamped its website with a fresh look and a number of new features, the upmarket retailer said on Wednesday. By global standards, the e-commerce platform in South Africa is relatively limited but with ever greater numbers of time-poor and tech-savvy... Continue Reading →

DOHA, July 25 (Reuters) - Qatar Luxury Group will launch the first boutique for its luxury brand Qela in Doha in late September, selling leather goods, shoes, jewellery and made-to-measure clothing designed with Qatari heritage in mind. It will be followed by a unit in Paris in coming months, a company statement said. An opening... Continue Reading →

The John Lewis Partnership has announced that Waitrose managing director Mark Price is to become its deputy chairman, succeeding David Barclay on conclusion of his final term in office as a non-executive director. Price will continue in his role as managing director of Waitrose after the appointment and will take up his additional responsibilities in... Continue Reading →

Retail is dead! At least, that’s how Marc Andreessen sees it. The entrepreneur and tech investor was recently quoted saying that all physical retail stores will die, succumbing eventually to the vast sea of online competition. According to Andreessen, there will be one way to shop for everything and that way will be e-commerce. It’s... Continue Reading →

Retail is dead! At least, that’s how Marc Andreessen sees it. The entrepreneur and tech investor was recently quoted saying that all physical retail stores will die, succumbing eventually to the vast sea of online competition. According to Andreessen, there will be one way to shop for everything and that way will be e-commerce. It’s... Continue Reading →

First-half net profit 768m Sfr vs 728m forecast in poll Zurich: The world’s biggest watchmaker Swatch Group said it was confident about the second half of the year after its first-half net profit shrugged off a crackdown on traditional gift-giving in China to rise more than expected. Net profit was up 6.1 per cent to... Continue Reading →

Lifestyle clothing retailer Fat Face is to expand into the US after seeing a sharp rise in annual profits. The retailer, which operates around 200 stores in the UK, plans to open three outlets on the US east coast during the next two years as well as launch a US website. Owned by private equity... Continue Reading →

FOLLOWING Shoprite and Massmart which indicated a slowdown in growth, shares in Truworths slid more than 7% on Monday to close at R80 after the fashion retailer’s earnings guidance fell short of market expectations. With employment creation still lagging, consumers remain challenged by increased living expenses which are eroding disposable income in Africa’s largest economy.... Continue Reading →

Pittsburgh -- GNC Holdings Inc. on Monday opens its first freestanding store in China. The store, located in the Raffles City complex in Shanghai, is the first of about 25 standalone stores GNC plans to open in China during the next 12 months. GNC has had a retail presence in China for the past two... Continue Reading →

Struggling fashion and homeware chain Nicole Farhi has been bought by businesswoman Maxine Hargreaves-Adams. The retailer, founded in 1982 by French Connection boss Stephen Marks and Nicole Farhi herself, went into administration earlier this month. Last year Ms Hargreaves-Adams, daughter of Matalan's founder John Hargreaves, bought the Fenn Wright Manson womenswear chain out of administration.... Continue Reading →

HENNES & Mauritz (H&M), the world’s second-largest fashion chain, is the latest in a string of top global brands set to open shop in South Africa. H&M has signed a lease to open a store in Mall of Africa in Johannesburg, and is working to find a way to open in the V&A Waterfront in... Continue Reading →

Qatar-backed Louis Vuitton in $2.57bn acquisition LVMH Louis Vuitton Moet Hennessy, the French luxury goods conglomerate part owned by Qatar, has acquired 80 percent of Italian luxury cashmere clothing brand Loro Piana for 2 billion euros ($2.57bn), boosting the firm’s presence in high-end handcrafted products popular with Asian buyers. The deal gives Loro Piana an... Continue Reading →

Qatar is believed to be the Middle East sovereign wealth fund among the bidders hoping to buy US luxury department store chain Saks Fifth Avenue, according to reports in the US media. The unnamed fund, which the New York Post newspaper said was most likely to be Qatar, is part of three investors which are... Continue Reading →

UK online clothes retailer ASOS is pushing into China after electing to work with e-commerce platform provider Hybris to launch a new fashion e-retail business there. Given that China’s e-commerce market is booming — with a report noting that Chinese netizens will collectively spend an estimated $296 billion in the whole of 2013 compared with... Continue Reading →

The number of people shopping in Northern Ireland's high streets has suffered a 6% drop in June, retailers have said. The figures are considerably worse than the whole of the UK where the total was up 0.1%. In June, shopper numbers in Northern Ireland were 5.9% lower than a year ago, compared with a 3.1%... Continue Reading →

China leads index, but Middle East region remains an attractive retail apparel market The UAE has been ranked second on the A. T. Kearney Retail Apparel Index, which identifies the top 10 developing countries ranked in terms of market attractiveness, retail development, and country risk for their clothing retail industries. “From the overall point of... Continue Reading →

John Lewis has announced plans to open a store at Heathrow's Terminal 2 in June 2014. The retailer is investing more than £1 million in a 335 sq m shop at the airport, curating the best of home, fashion, gifting and seasonal ranges. Andy Street, managing director, John Lewis comments: 'This new opening is a... Continue Reading →

Harrods luxury department store in London, on June 24, 2013. Harrods, which has more than 1 million square feet (90,000 square meters) of selling space, isn't concerned about the outlook for spending on luxury goods. Anne Long hasn’t set foot inside Harrods in years, and the self-proclaimed shopaholic from west London doesn’t miss it at... Continue Reading →

Oak Brook, Ill. – McDonald’s has signed a contract with Vietnamese businessman Henry Nguyen to serve as a developmental licensee for the company in Vietnam. Nguyen, founder of Good Day Hospitality and managing partner of IDG Ventures Vietnam as well as a former part-time McDonald’s store employee in the U.S., is expected to open Vietnam’s... Continue Reading →

One Direction have announced plans for their latest 1D World pop-up store. Scotland's first retail shop dedicated to the boyband will open on July 20, making it the third such store to open in the UK. One Direction launch their debut fragrance It is also the 10th to launch in Europe, and 29th overall, having... Continue Reading →

Amman - Jordan (July 2013) Azadea Group has hit the market with another "George" one of the UK's largest fashion retailers, in Jordan's capital city, Amman. The new store at Galleria Mall, is the second George store and follows on from the success of its first opening at Mecca Mall back in December 2012. With... Continue Reading →

Shoprite Holdings Ltd. (SHP), South Africa’s largest food retailer, fell the most in two weeks as second-half sales slowed amid weaker consumer spending in its domestic market. Total sales growth declined to 10.4 percent in the six months through June, compared with 13.8 percent in the previous half-year period, the Cape Town-based company said in... Continue Reading →

MORE than 550 jobs are at risk after house and garden chain Homebase Ireland went into examinership. The High Court appointed an examiner to the business this morning as the company struggles with the collapse in the retail market. Homebase has 15 stores in Ireland and employs some 558 people. In a statement, Homebase Ireland... Continue Reading →

Dubai: Costa Coffee has become the first coffee chain in the region to launch a mobile phone application in the UAE. The app boasts of a distinct navigation tool, complete online product details, social media integration, store finder options and uses the custom Costa colours red and cream. Costa Coffee constantly keeps abreast with the... Continue Reading →

Nordstrom's Pinterest community could soon have influence over what is displayed in stores. The retailer is testing showcasing the most popular items on Pinterest in various departments of its physical stores. Nordstrom, which has 4.5 million users on the social network, is the first retailer to test this approach. Popular items on Pinterest are displayed... Continue Reading →

Brampton, Ontario – Loblaw Companies Limited announced it will acquire Shoppers Drug Mart in a deal worth about $11.9 billion, merging the Canadian grocery and drug retailers. Shoppers Drug Mart will retain its name and brand and operate as a separate division of Loblaw while expanding its product offerings to include Loblaw's private label and... Continue Reading →

Massmart releases weaker than expected sales update A Game store, operated by Massmart, in Rosebank, Johannesburg. Picture: SUNDAY TIMES WALMART-owned Massmart on Tuesday released a weaker than expected update, saying sales grew 8.9% to R32.3bn in the 26 weeks to June 23. Comparable store sales increased 5%. Moderate retail trading conditions are expected in 2013... Continue Reading →

TOM TOM CLUB: Tom Ford is expanding its retail footprint, with new flagships in Chicago and Dallas, bringing its U.S. store count to five. The 4,700-square-foot Chicago unit, slated to open in August, is located on two floors of the old Esquire Theatre building on Oak Street, which has been transformed into a luxury shopping... Continue Reading →

Andy Murray and Kim Sears to be next Burberry couple? Rumours point to Wimbledon champion and Burberry fan Andy Murray and his girlfriend Kim Sears starring in the brand's next campaign. At the Wimbledon Champions Dinner last week, The Telegraph pointed out how newly-crowned winner Andy Murray and his other half Kim Sears, both elegantly... Continue Reading →

Bahrain will tonight open its biggest ever traditional souq, which organisers forecast will attract up to 20,000 people a day, it was reported. The 18,000sqm souq will open at the historic area of Hunniniyah Valley and will feature 80 indoor and outdoor stalls selling traditional clothing, perfumes and scents, food and handicrafts, according to a... Continue Reading →

Bahrain-based Sharia compliant investment firm Tadhamon Capital has acquired real estate assets in the UK valued at £32m. (Photo for illustrative purposes only) Bahrain-based Sharia compliant investment firm Tadhamon Capital has acquired real estate assets in the UK valued at £32m ($50m). The first transaction is for the £26m purchase of the 251-bed Brunswick House... Continue Reading →

Primark has reported a 20% sales rise in the last three months desite fears of a backlash over the Bangladesh factory collapse. Photograph: Facundo Arrizabalaga/EPA Primark has reported a 20% increase in sales over the past three months as the retailer avoided a consumer boycott over the Rana Plaza disaster in Bangladesh. The plant, which... Continue Reading →

Superdry owner returns to form with 22% rise in profits Superdry's online sales rose by 28% last year and are now worth 11% of group revenues. Photograph: Linda Nylind for the Guardian SuperGroup, the retailer behind street fashion brand Superdry, hailed a return to form as it reported a 22% surge in pre-tax profits. Revenues... Continue Reading →

The Saudi Arabian Labour Ministry has warned abaya and lingerie shops they will be regularly and spontaneously raided to ensure men and women are not working together. Non-compliant businesses may be shut down, deputy minister for inspections and developing work atmosphere, Abdullah Abuthnain, said. The ministry has appointed 45 female inspectors to carry out the... Continue Reading →

SuperGroup, owner of the Superdry brand, is set to trial a Chinese website next year. The news of the site, which is currently under development and will be fulfilled from the UK, came as the fashion retailer today said that its ecommerce sales grew by 27.8% in its latest financial year, and now account for... Continue Reading →

At 4.2 million square feet, The Mall of America in Bloomington, Minn. is already one of the biggest malls in the U.S. — and the most visited, with 40 million visitors per year, But starting this fall, the mall is planning to add up to 5.6 million square feet of space in hopes of drawing... Continue Reading →