Retail news is now available on flipboard ...please follow us for the latest retail news
Retail news is now available on flipboard …
Selfridges plans for a £10m overhaul of its Oxford Street flagship
Selfridges is planning a £10 million overhaul of its Oxford Street flagship store in London. Taking on-board an engineer Expedition, architecture consulting firm Gensler and construction manager Blue Sky Building, the British luxury department store is hoping to renovate the historical building in order to create greater retail space. Furthermore, it plans to build an... Continue Reading →
Giordano plans for future and pushes main label upmarket
ANALYSIS_ Hong Kong listed Giordano International plans to push its main label upmarket and raise prices by 10 to 15 percent over the next two years, giving way to its spin-off brand Beau Monde to focus on affordable apparel staples. "What's holding us back is two things. The first one is memory but secondly, our... Continue Reading →
M&S opens largest international store in Kuwait
UK retail giant Marks & Spencer has announced the opening of its largest international store in Kuwait. The new 72,000 square foot flagship store is operated by Marks & Spencer’s long term franchise partner Al-Futtaim group, which now operates 26 M&S stores across eight territories in the region. Omar Al Futtaim, chairman of Al-Futtaim Group,... Continue Reading →
Step into the Pradasphere with Harrods
May 2014 will be the month of Prada at Harrods as the Italian fashion house takes over part of the iconic store with an exhibition, café and exclusive collection The Pradasphere will takeover Harrods in May Prepare to land on planet Prada if you visit Harrods this May because the famed Italian fashion house is... Continue Reading →
Waitrose in export South Africa export deal
StockMarketWire.com - Waitrose has announced its first export deal in South Africa. The deal means that the supermarket will be selling its products in every continent, with the exception of Antarctica, and exports to 50 countries across the globe. In one of its biggest deals to date, more than 250 of the supermarket's own-brand groceries... Continue Reading →
Superbrands uk 2014 results and reports
About Superbrands® Superbrands commissions independent research to identify the UK’s strongest brands, as voted for by marketing experts, business professionals and thousands of British consumers. Superbrands UK is part of a global business operating in over 50 countries. Superbrands Worldwide. 2014 Results There are two separate surveys: Consumer Superbrands (the UK’s strongest B2C brands) and... Continue Reading →
Abercrombie & Fitch quarterly profit plunges
Teen apparel retailer Abercrombie & Fitch Co reported a 58 per cent fall in quarterly profit as it struggles to keep up with the tastes of young shoppers. Abercrombie’s net income fell to $66.1 million, or 85 cents per share, for the fourth quarter ended February 1st. This compares to $157.2 million, or $1.95 per... Continue Reading →
Shoprite to open 101 stores in SA in aggressive bid to gain market share
Shoprite CEO Whitey Basson speaks at his company’s results presentation in Johannesburg on Tuesday. Despite the downturn in economic conditions, the group intends to continue with its expansion plans for South Africa. Picture: RUSSELL ROBERTS SHOPRITE Holdings is opening 101 new stores in South Africa before June as part of an aggressive expansion plan to... Continue Reading →
Burger King plans whopper expansion in South Africa
Empowerment investment company Grand Parade Investments (GPI) is relishing the prospect of its Burger King investment munching rapidly into the market share of the local fast food sector. GPI, which secured the Burger King master agreement for South Africa in late 2012, already has 10 outlets scattered through Cape Town and Gauteng. GPI’s results released... Continue Reading →
Co-op hoists ‘for sale’ sign over farms and pharmacies
Co-op hoists 'for sale' sign over farms and pharmacies The Co-operative Group has hoisted the ‘for sale’ sign over its farming and pharmacy businesses as it seeks to reduce its £1.2bn debt pile amid mounting losses. The troubled mutual – which is in the midst of a group-wide strategy review aimed at finding ways of... Continue Reading →
Mamas and Papas refocuses its international expansion
Mamas and Papas is undergoing a major roll-out programme overseas that will see the company build 100 stores in China and 25 stores in Russia. Tim Maule, deputy chief executive of Mamas and Papas, says that the company’s new-found global reputation has allowed the firm to reassess its international business. “We started trading around the... Continue Reading →
Starbucks Ireland profit up 47% in 2012
The Irish arm of coffee giant, Starbucks increased its profits after tax by 47 per cent to €721,327 in 2012 – but paid no corporation tax. Accounts just filed by Ritea Ltd – formerly Starbucks Coffee Company (Ireland) Ltd – show it increased operating profits 40 per cent to €801,416, from €570,450. Net interest payments... Continue Reading →
Macy’s Q4 profit up 11% but sales miss; opening four new stores
New York – Macy's Inc.'s fourth-quarter profit increased 11%, but the chain’s sales missed forecasts as ongoing winter storms caused a sales slump in January. The company also announced plans for new Macy’s stores in Sarasota, Fla.; Las Vegas; and The Bronx, N.Y., in fiscal 2014. A new Bloomingdale’s will open in Palo Alto, Calif.,... Continue Reading →
CANADA’S TOP 20 MALLS BY TWITTER FOLLOWERS
By Melissa R. We've put together a list of Canada’s top 20 malls, ranked by number of Twitter followers. Interestingly, one of these is a parody twitter account dedicated to a small, dated East Vancouver mall. Also, few malls in Quebec appear to utilize Twitter. Besides Facebook, Twitter is an excellent source of information on... Continue Reading →
Apple wants to open own stores in India
Apple Inc, the maker of iPhones and iPads, has asked the government to relax the local sourcing clause in its policy on foreign direct investment (FDI) in single-brand retail. Though government officials seem to have ruled this out for now, the proposal has not yet been closed. The company’s senior management executives recently met officials... Continue Reading →
Supervalu to create 210 jobs as it plans to open three new stores
Supervalu is set to open three new stores in 2014 as part of a € 7 million investment by its independent retail partners. The expansion will result in the creation of 210 jobs, and will bring the grocery chain’s number of outlets up to 226. The Musgraves-owned grocery chain will also invest a further €... Continue Reading →
Mothercare boss Simon Calver quits
Mothercare boss Simon Calver has resigned as chief executive from immediate effect. The news comes six weeks after the retailer issued a profit warning. Group worldwide sales fell 6.1% in the 12 weeks to 4 January, with UK like-for-like sales down 4%. The group made a loss of £21.7m in the UK in its last... Continue Reading →
Hobbs chief exec Nicky Dulieu to leave
Nicky Dulieu, chief executive of Hobbs is to leave the retailer after five years. Dulieu, who joined the womenswear chain in 2006, is expected to remain in her position until spring and will continue to work with the retailer after standing down from the top role, according to Draper’s sister magazine Retail Week. Dulieu joined... Continue Reading →
Crocs reports 8.8 percent revenue rise in FY 2013
REPORT_ Crocs has reported financial results for the fourth quarter and full year ended December 31, 2013. Its GAAP revenue increased 1.6 percent and 6.2 percent in the 2013 fourth quarter and the full year, respectively. On a constant currency basis, revenue increased 4.1 percent and 8.8 percent in the 2013 fourth quarter and full... Continue Reading →
Flip Flop Shops (US) to Announce Major Development for the Middle East
27 Jan 2014 - Flip Flop Shops®, one of the fastest growing retail chains in North America, announced a master franchise agreement with major Middle East fashion leader, Al Mana Fashion Group, W.L.L., a subsidiary of Al Mana Group. The agreement includes significant global expansion with the development of 50 Flip Flop Shops retail locations... Continue Reading →
LONDON DRUGS RATED #1 BRAND IN BRITISH COLUMBIA
Richmond, BC-based London Drugs has been rated the best brand in British Columbia, according to Ipsos Reid and BC Business magazine. Ipsos Reid created a top 10 list while BC Business Magazine polled readers for their 'most loved' brands. Impressively, London Drugs won both. "London Drugs almost tripled the average BC brand score when it... Continue Reading →
Marks & Spencer returns to The Netherlands
Today marks the opening of M&S department store in The Hague, The Netherlands. Located on the busy high-street, de Grote Marktstraat, the 52,000 square foot store spans three floors and includes a 7,500 square foot food hall, making it the largest M&S store in the EU outside of the UK. M&S open new flagship store... Continue Reading →
Joe Fresh to open 120 stores in 25 countries
Joe Fresh to open 120 stores in 25 countries This photo from May 2013 shows a shopper walking past the Joe Fresh store on Fifth Avenue in New York. Joe Fresh plans a major international expansion, says parent company Loblaw. (Mary Altaffer/Associated Press) Grocery giant Loblaw Companies Ltd. is taking its Joe Fresh discount clothing... Continue Reading →
Bottega Veneta opens enlarged flagship store in Singapore
Covering 435 square meters, more than double the previous size and now spanning two floors, the new Bottega Veneta flagship store in Singapore at Marina Bay offers a more complete selection of products for men and women including ready-to-wear, handbags, accessories, shoes, luggage, eyewear, home decoration, fragrance and jewellery on each level. Among the notable... Continue Reading →
Mango invests 20 million euros in expanding Violeta
Violeta Andic Maytek, niece of the president of Mango, Isak Andic, has announced an ambitious expansion plan for the recently launched label Violeta by Mango, the latest project from the brand that offers fashion in sizes 40 to 52. Mango plans to open about 100 stores, the first of them in Spain, France, Germany, Russia... Continue Reading →
Babyshop to open 15 stores in the UAE by 2016
Babyshop to open 15 stores in the UAE by 2016 The region is set to have up to 30 stores in the next three years Dubai: Babyshop plans to open between 15 and 18 stores in the Middle East and North Africa (Mena) this year. However, revenue growth is expected to drop from 19 per... Continue Reading →
Edcon to Cut Jobs at Clothes Retailer Edgars to Boost Earnings
Edcon Holdings (Pty) Ltd., South Africa’s largest clothing retailer, plans to cut jobs at its 13,000-employee Edgars chain starting May as it aims to reduce costs at the flagship division. “The chain is still below its productivity and efficiency targets,” Debbie Millar, a spokeswoman for the Johannesburg-based company, said in an e-mail today. “Any job... Continue Reading →
Retail news is now available on flipboard …
Retail news is now available on flipboard ...please follow us for the latest retail news
H&M BRAND COS LOOKING TO OPEN CANADIAN STORES
Sources tell us that H&M's upscale label 'COS' is seeking Canadian retail space for free-standing COS stores. It has looked at several retail spaces on Toronto's Bloor Street, though we've been told that no deals have been signed at this time. Sources tell us that Vancouver and Montreal are also on the list for possible... Continue Reading →
Woolworths to open fashion brand stores across SA
WOOLWORTHS plans to open up to 18 Country Road and Trenery stores in South Africa over the next three years. The upmarket retailer, which expects to launch Australian fashion brands Witchery and Mimco in South Africa in March, planned to open up to 47 of these stores in South Africa over the same period, it... Continue Reading →
Wendy’s sells 70 restaurants in Dallas area
Dublin, Ohio -- The Wendy’s Company announced the sale of 70 restaurants in the Dallas-Ft. Worth metroplex to Texas-based MUY Hamburger Partners, a Wendy's franchisee. The transaction is designed to promote new restaurant growth and reimaging, while generating a more predictable revenue stream for the company. Wendy’s is geographically concentrating its restaurant ownership through the... Continue Reading →
The Fashion District opens at Dubai’s Mall of the Emirates
A host of new international fashion brands have opened in the first phase of the redevelopment of Mall of the Emirates in Dubai. The Fashion District - a Dhs100 million investment of new stores - officially opened this week. More brands and restaurants will be launched until 2015, as part of the mall's vision of Evolution... Continue Reading →
Royal Family Welcomes Starbucks to Brunei, the Company’s 64th Country
Starbucks Coffee Company celebrates two significant milestones in Southeast Asia, opening its first store in Brunei – the company’s 64th global market – and its 100th store in Singapore. It's not often a royal family is on hand for the opening of a Starbucks store. A celebration marking Starbucks first store in Brunei included Her... Continue Reading →
Woolworths reports strong results, highlighting success of the Group’s strategic focus
Woolworths announced strong results for the 26 weeks ended 29 December 2013, reporting a 16.0% increase in revenue and a 21.1% improvement in profit before tax. Highlights • Revenue +16.0% • Profit before tax +21.1% • Headline earnings per share +17.2% • Return on equity at 55.9% Headline earnings rose 17.2% to 192.4 cents and... Continue Reading →
Boohoo.com prepares for £500m float
Online fashion retailer Boohoo.com is expected to enter the stock exchange in a £500million float within the next fortnight. The Manchester-based business, which reported a £3.2million profit on £67m turnover for the year ending February 2013, will start selling shares to the public in March this year. It is believed that the company is majority... Continue Reading →
UAE retailer named one of world’s fastest growing firms
UAE-based EMKE Group, which runs the Lulu chain of supermarkets, has been named among the fastest growing retailers in the world over a five-year period. The company, headed by Indian Yusuffali MA, was ranked 11th in a list of the biggest growing retail businesses published by Deloitte, which also listed the world's 250 biggest names... Continue Reading →
HomeServe In Record Retail Mis-Selling Fine
Domestic repair insurance firm HomeServe has been hit with the largest fine ever imposed on a retailer. The Financial Conduct Authority (FCA) said the £30.6m penalty was for "serious, systemic and long-running failings". The FCA said that for six years the company targeted customers in a profit-driven culture. The fine related to company activity between... Continue Reading →
Prada’s Sales Are Soaring Because It Adopted Apple’s Strategy
Prada's sales have climbed a whopping 9% this year. The reason for their smashing success? The luxury handbag maker has been limiting selling its product through wholesale channels, reports Kyle Stock at Bloomberg Businessweek. Instead, Prada opened 79 retail stores around the world this year. Apple is most famous for adopting this strategy, according to... Continue Reading →
Retail news is now available on flipboard …
Retail news is now available on flipboard ...please follow us for the latest retail news
January 2014 parker review : South African retail news
DOWNLOAD THE FULL REPORT HERE
Global Powers of Retailing 2014 Retail Beyond begins
DOWNLOAD THE FULL REPORT HERE The Global Powers of Retailing report identifies the 250 largest retailers around the world for the past fiscal year- but it is much more than a list. It also examines trends for retailers to consider as they plan their growth strategies; provides a global economic outlook for retail; and discusses... Continue Reading →
Superquinn stores to be renamed SuperValu
It has been in business for 54 years, but the Superquinn brand will be checking out of the Irish grocery market for good tomorrow. Cork wholesale group Musgrave, which acquired the business for €229 million in October 2011, has decided to ditch the Superquinn name and rebrand its supermarkets under the SuperValu banner. All 24... Continue Reading →
Qatar wealth fund pumps $412m into Harrods
Qatar’s sovereign wealth fund has invested £250m ($412m) into London luxury department store Harrods since acquiring it four years ago, a senior executive revealed. Ahmad Al-Sayed, CEO of Qatar Investment Authority (QIA), said in a rare public appearance that the UK would remain a “main destination” for the fund, which was a “long-term investor” in... Continue Reading →
Morrisons founding family considers taking chain private
5:57PM GMT 12 Feb 201414 Comments Shares in Wm Morrison surged by as much as 5pc on Tuesday as speculation mounted in the City that the family that founded the supermarket group is trying to orchestrate a £7bn private equity buy-out. The Morrison family owns roughly 9.5pc and has approached a collection of private equity... Continue Reading →
First mobile mall launched in the MidEast
A new mobile phone app, which claims to be the region’s first mobile mall, was launched in Dubai on Tuesday and is hoping to replicate its success in Europe and North America. Branded as SAMY, the award-winning app enables merchants and shopping centres to extend their reach to smartphone users and engage with potential new... Continue Reading →
Flip Flop Shops expands to South Africa
Atlanta-based Flip Flop Shops is expanding to South Africa. The news comes on the heels of the company’s announcement in late January it has inked a franchise deal with Al Mana Fashion Group to open 50 stores in the Middle East. The company says it will develop 25 additional shops throughout South Africa, Zimbabwe and... Continue Reading →
Marks & Spencer poised to enter Australian market
British department store group Marks & Spencer is reportedly speeding up plans to step into the Australian market, which is part of the group's Chief Executive Officer Marc Bolland's strategy to turn M&S into an international multi-channel retailer. M&S was previously thought to be looking for potential retail locations in Sydney, with sources naming a... Continue Reading →
Poundland to open stores in spain
Poundland, the UK's leading high street fixed price discounter has announced it is to open a number of stores in Spain under the Dealz fascia. Possible wider roll out Poundland has outlined plans to open 10 stores in Spain over a two-year period ahead of a possible wider roll out if the trial is successful.... Continue Reading →
retail news 