REPORT_ For the full year Tod’s sales revenues, at constant exchange rates, increased by 1.7 percent. Consolidated sales for the year were up 0.5 percent. In the fourth quarter of 2013, sales were up 0.8 percent from the same quarter of 2012. In financial year 2013 the impact of currency fluctuations was negative. Tod’s is... Continue Reading →
Target will open nine more Canadian stores in 2014. These will be in addition to the 124 Canadian Target locations that opened in 2013, tentatively bringing the total number of Canadian Target stores to 133 by the end of this year. Five of the nine Target stores will locate in former Zellers store locations. The... Continue Reading →
Tesco, Waitrose and parcel company InPost are set to launch click and collect facilities across the London Underground network as Transport for London (TfL) looks to “meet the wider needs” of its customers. After a successful trial in London Underground station carparks with Asda Grocery Click and Collect services, TfL on Wednesday announced it would... Continue Reading →
Fashion chain Hobbs endured "tough trading" over Christmas, prompting its private equity owner 3i to write down the value of its investment by 40%. The British investment firm said its 47% stake in the chain was worth £14m less than in September last year when it was valued at £35m, a figure that had already... Continue Reading →
The Dubai Mall received over 75 million visitors last year, driving a sales boost of 26 percent. Over 40 percent of the visitors to the mall were tourists with a majority of the overseas visitors coming from Saudi Arabia and other GCC countries, China, India, Russia and Europe," Emaar Properties said on Wednesday. Since the... Continue Reading →
2014 Retail Store of the Year: And the winners are … New York -- Liverpool, Mexico’s largest department-store chain, received top honors in Chain Store Age’s 32nd annual Retail Store of the Year design competition. The company’s stylish and contemporary 301,400-sq.-ft. store in Veracruz was named Store of the Year, and also took top honors... Continue Reading →
Costa Coffee keen on expansion After Chennai and Bangalore in South India, Costa Coffee, one of the largest retail coffee chains in the world, has set up shop in Kochi. The British Deputy High Commissioner in Chennai, Bharat Joshi, opened the Kochi outlet at Lulu Mall. Santosh Unni, CEO, Costa Coffee-India, said the outlet would... Continue Reading →
"I've taken inspiration from things in my life such as the grosgrain ribbons I tied in my hair as a girl, to the flower accents from the Sex and the City wardrobe, to references to classic styles from the late '70s and early '80s," says Sarah Jessica Parker of her debut shoes collection, unveiled in... Continue Reading →
The International Finance Corporation and UK government-backed CDC Group have injected $32 million (Sh2.75 billion) into the Garden City real estate development. The $250 million (Sh21.5 billion) development being put up by private equity firm Actis integrates retail, residential and office space on a 32-acre parcel of land on Thika Road in the outskirts of... Continue Reading →
The popular Dubai Ski concept is set to be rolled out across the Middle East, with developer Majid Al Futtaim Group signalling plans for several new facilities in coming years. Ski Dubai at MAF’s Mall of the Emirates has become a must-do tourist attraction since it opened in 2005. A unique concept given its location... Continue Reading →
Foreign direct investment (FDI) by multinational food processing companies has shot up to $2.14 billion in the country between April and October 2013, and continues to increase significantly. The Indian retail market, currently estimated at $490 billion, is project to grow at a compounded annual growth rate of 6 per cent to reach $865 billion... Continue Reading →
JD Sports is to open a chain of gyms as it announced plans to capitalise on the growing fitness market. The high-street retailer, which will open its first 21,000 sq ft gym in Hull next month, says it will be fitted out with the latest gym equipment. JD Gyms managing director Alan Peacock told the... Continue Reading →
The Smiggle chain’s bright colours and cheap and cheerful stationery have proven a hit with Australia’s nine-year-old girls and boys. Now Mark McInnes is hoping youngsters in Britain will have the same appetite for Smiggle’s rucksacks, pencil cases, lunch boxes, drink bottles and erasers. The former boss of department store chain David Jones, who has... Continue Reading →
Starbucks shareholders have filed a $2.8 billion lawsuit against the company following its alleged breach of contract with Kraft Foods. The lawsuit claims that Starbucks' board of directors and executive officers breached their fiduciary duties and "grossly understated the impact of the contract breach in the company's financial filings with the SEC," Courthouse News Service... Continue Reading →
Mobile operator EE will be opening a further 50 high street stores through 2014. EE has announced plans to grow its number of retail and franchise outlets over the next 12 months. The mobile operator will open a further 50 high street shops in 2014, it said on Friday (17 January), bringing the total number... Continue Reading →
Famous lingerie and sleepwear retailer Victoria’s Secret is set to add another store to its UK portfolio, opening in London’s Brent Cross shopping centre in November this year. Made up of four existing units, the 12,000 sq ft store will feature in a prime location in the mall, which is joint owned by Hammerson and... Continue Reading →
Dubai retailer Majid Al Futtaim, which holds the Carrefour franchise in the Middle East, plans to invest about $2.3 billion in Egypt in the next few years, its chief executive said on Wednesday, a sign of Gulf investors' growing interest in the Egyptian economy. "Total investments on the plan, including Carrefour, should be around 16... Continue Reading →
Superdrug has posted a rise in like-for-like sales over Christmas thanks to consumers’ tendency to buy beauty gifts, like perfume, over the period. The health and beauty retailer said like-for-like sales increased by 1.5 per cent over the period in the nine weeks to 28 December compared with figures from a year ago. 1.7 million... Continue Reading →
NEW DELHI: Italian luxury bespoke clothing company Kiton plans to open at least two exclusive stores in India to tap the country's booming market for super expensive menswear, a top executive said. Kiton, which entered the Indian garment market last year through a master franchisee deal with Mumbai-based Regalia Luxury Clothing, is also considering incorporating... Continue Reading →
Amazon is preparing to launch a Sunday delivery service across the UK in a move which is likely to strike fear into the hearts of independent retailers. The service will be offered in London, Birmingham, Milton Keynes, Oxford, Nottingham, Manchester and Leeds. Online sales are expected to grow by 17 per cent in 2014 as... Continue Reading →
Victoria Beckham will open her first standalone shop on London's Dover Street in the autumn of 2014, as she reveals she's putting focus on the US market Victoria Beckham has confirmed that she will open her eponymous brand's first bricks-and-mortar store on London's Dover Street in the autumn. The designer has hired architect Farshid Moussavi,... 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 →
Clothing retailer Fat Face has taken a further step towards a London listing by drafting in a raft of bankers to advise on a possible flotation. The company hired Lazard in December to explore options for the company. But following a buoyant Christmas trading period the business has now added Citi and Jefferies to work... Continue Reading →
New Delhi: Global retail giant Wal-Mart has registered a new company in India as it prepares to enter the country's lucrative multi-brand retail market with a new partner. The American retail major and Bharti Enterprises decided to part ways in October last year, bringing an end to their six-year long partnership. The retailer has registered... Continue Reading →
Nakheel PJSC, the property developer at the heart of Dubai’s debt crisis in 2009, will have nine hotel projects under development by 2016 to benefit from the emirate’s growth as a regional tourist destination. The builder of palm islands off the emirate’s coast may unveil plans to build four new hotels on Deira island along... Continue Reading →
Johannesburg - South African discount retailer Mr Price failed to impress investors with a 15 percent rise in third-quarter sales on Thursday, reflecting the lofty expectations for one of Johannesburg's most expensive stocks. Mr Price, which sells clothing and household goods, said sales growth for the three months to end-December rose 14.8 percent, helped by... Continue Reading →
Laura Ashley sold off its holding in Moss Bros yesterday – a move which netted the women’s wear and home furnishing brand £8 million. According to City AM, Laura Ashley began to build its stake in the suit-maker in 2008 which fuelled rumours of a takeover, but a bid was never tabled. On Tuesday the... Continue Reading →
Hennes & Mauritz (H&M) has announced a ten per cent sales rise in December – figures neatly in line with analysts’ expectations. The Swedish fashion retailer did not provide figures for comparable sales or same-store sales. December is the first month of H&M’s fiscal first quarter.
OPERATING profits at the company that operates the McCabe pharmacy group soared 40pc to €7.59m in the group's last financial year. Accounts just filed by Behey Ltd to the Companies Office show that the group saw operating profits jump after revenues increased 7pc to €57.9m in the 12 months to the end of January 2013.... Continue Reading →
BURGER King will open the doors of its first stores in Gauteng on February 1. The global fast-food chain first launched in South Africa in May last year. Local gaming and leisure group Grand Parade, through its subsidiary Utish Investments, holds the master franchise agreement to expand Burger King in South Africa. The move is... Continue Reading →
Waitrose, the food unit of the UK's John Lewis Partnership, is to open a 26,000 sq ft store in the Akoya by Damac Retail Centre, it was announced on Wednesday. Set within the 42 million sq ft golf and lifestyle community in Dubai, Waitrose will be the anchor tenant of the precinct which will include... Continue Reading →
J.C. Penney Co. (JCP) plans to close 33 stores and eliminate about 2,000 jobs to help save $65 million a year as Chief Executive Officer Mike Ullman tries to turn around the money-losing retailer. The closings and cuts will result in pretax charges of $26 million in the fourth quarter and $17 million in future... Continue Reading →
Burberry Group Plc, (BRBY) the U.K.’s largest luxury-goods maker, reported quarterly revenue that beat estimates as shoppers spent more through digital channels. The shares rose as much as 7.2 percent, the most since July, after Burberry said retail revenue advanced 14 percent to 528 million pounds ($866 million) in the three months ended Dec. 31.... Continue Reading →
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Karen Millen managed to shrug off wider concerns for high street brands this Christmas after posting a 10 per cent rise in sales in the five weeks to 5 January. The Shoreditch-based fashion brand managed a 9 per cent increase on a like-for-like basis, compared with the same period last year. On an international scale,... Continue Reading →
Luxury Roman fashion house Valentino has opened a men’s-only flagship store in Paris. The 4,300 sq ft store is Valentino’s first store to accommodate men’s fashion exclusively, and is part of the retailer’s pledge to grow the menswear arm of the business. The flagship will feature a new made-to-measure service, allowing customers to order bespoke... Continue Reading →
Online fashion retailer Asos enjoyed a big jump in sales in the run-up to Christmas, putting it firmly among the sector's winners from the key festive trading season. Asos, whose shares have almost trebled in the last year, said in a trading update that its sales rose 38pc to £335.7m in the four months to... Continue Reading →
The sportswear empire of Newcastle United owner Mike Ashley has snapped up almost 5% of shares in department store Debenhams, it emerged today. Sports Direct International said the stock market purchase, worth around £46million, would allow the companies to consider ways to work together. Debenhams, which issued a profits warning on New Year’s Eve after... Continue Reading →
Sharp growth attributable to Czech National Bank's controversial forex interventions, analysts say Prague, Jan. 10 (ČTK) — Czech retail sales grew 6.1 percent year on year in November 2013, showing the fastest increase since January 2011, after a 0.6 percent year-on-year drop in October, the Czech Statistical Office (ČSÚ) said today. The November growth was... Continue Reading →
Sears Holdings is down 15% after hours after the company warned of Q4 losses. The retailer sees Q4 adjusted loss of $2.01-$2.98. Analysts were looking for earnings of $0.26 per share. Quarter to date comparable store sales are down 7.4%. Year-to-date sales are down 3.9%. For the full year ending February 1, 2014, the Company... Continue Reading →
HACKETT celebrated the grand opening of its store in Saudi Arabia alongside Car Maker Aston Martin at an event on Tahliyah Street, Jeddah. Part of Hackett Tradition with Aston Martin, Sheikh Abdullah Binzagr arrived at the event in an Aston Martin to open the store officially to the public, as guests were invited to the... Continue Reading →
US retail giant Macy's has announced it is cutting 2,500 jobs as part of a reorganisation to sustain profitability. The department store chain says it will reassign or transfer some workers and add some positions, leaving its workforce level at about 175,000. The Ohio-based company said it plans to close five stores and open eight... Continue Reading →
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Secaucus, N.J. – The Children’s Place Retail Stores has expanded its existing franchise agreement with Fawaz A. AlHokair & Co. SJSC covering retail stores in Saudi Arabia, to include opening a total of approximately 25 stores in Egypt and the Commonwealth of Independent States (C.I.S. Region) of Armenia, Azerbaijan, Belarus, Georgia and Kazakhstan, beginning in... Continue Reading →
The mall, situated along the A1 road in Botswana, will house amongst other shops, Edgars, JB Sports, Jet, pharmacies, Choppies Supermarket and food outlets which would include Nandos and Wimpy. The project manager, Mr Tony Montahna told stakeholders during a tour of the mall that work was progressing well and tenants were done with the... Continue Reading →
Independent fragrance retailer The Fragrance Shop has posted strong sales figures across the festive period, with like-for-like Christmas sales up 8.1 per cent in the five weeks to December 28th compared with the same period last year. The figures cap off a successful 2013 for the Manchester-based retailer, which opened its 150th store during the... Continue Reading →
New York -- Uniqlo will continue its expansion in the United States by opening five stores this spring/summer, including its first-ever location in the greater Philadelphia metropolitan area. The five new Uniqlo stores scheduled to open in spring/summer are: King of Prussia Mall in King of Prussia, Pa.; Stamford Town Center in Stamford, Conn.; Serramonte... Continue Reading →
Spanish holding company Inditex, whose portfolio includes fashion brand Zara, closed 61 stores throughout Spain during the first half of its fiscal year in 2013, yet has increased its retail space by 4 per cent over the past five years. According to Spanish newspaper El Economista, the company is planning to open larger stores and... Continue Reading →
Dubai: Dubai Duty Free ( DDF ) on Thursday said it closed 2013 with sales reaching Dh6.65 billion, representing an 11.4 per cent increase over the previous year. The year had already showed positive signs with December marking Dh700 million worth of sales. DDF celebrated its 30th anniversary on December 20 with a 30 per... Continue Reading →
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