OK Zimbabwe sales up 5,1 percent

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 Second-Quarter Profit Beats Estimates on Stores

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 →

Google to launch Middle East Hotel Finder

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 coming soon to a Sasol near you

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 →

Starbucks serves tasty Q3 results as profit rises 25%

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 →

Coach Is Losing Ground Against The Competition

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 →

Zara Heading to Miami

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 →

New Woolworths website offers full product range

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 →

Qatar Luxury Group to launch first boutique

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 Future of The Retail Store. By Doug Stephens

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 →

The Future of The Retail Store. By Doug Stephens

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 →

Fat Face to enter US

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 →

Truworths slumps as earnings guidance falls short

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 →

GNC opens first standalone China store

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 →

Nicole Farhi sold to retail boss Maxine Hargreaves-Adams

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 →

Qatar-backed Louis Vuitton in $2.57bn acquisition

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 said to bid for Saks Fifth Avenue

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 →

UAE ranks second in retail apparel index

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 →

Harrods Seeks to Be All Things for All People

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 →

McDonald’s plans Vietnam expansion

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 →

Massmart releases weaker than expected sales update

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 Ford Opening Flagships in Chicago, Dallas

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 →

Bahrain investment firm buys $50m UK assets

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 sales rise 20

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 →

Saudi plans regular raids on lingerie, abaya shops

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 to trial Chinese website

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 →

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