Danish charm bead jewellery brand Trollbeads announced it will open its first UK concept store at 21 Market Street, Cambridge, this November. Trollbeads announces first UK concept store Trollbeads UK chief executive said: “The location, in a busy shopping street at the centre of the beautiful city of Cambridge, is a perfect beginning for us... Continue Reading →
The Serious Fraud Office is to investigate Tesco over the accounting irregularities that created a £263m shortfall in the company’s profits. The SFO has notified Tesco that it will launch a formal criminal investigation into accounting practices at the company. The intervention by the SFO heightens the crisis facing Britain’s biggest retailer, which attempted to... Continue Reading →
Shares in Alibaba climbed above USD 100 during yesterday's trading after executive chairman Jack Ma said he would consider working with Apple on m-commerce strategies. The rocket in stock price meant the e-commerce giant's market capitalisation exceeded the USD 248 billion mark. Conversely, Wal-Mart's market capitalisation fell to around USD 247.5 billion, according to intraday... Continue Reading →
Torreal Group’s Hackett London recorded in fiscal 2013/14 , ended on March 31 , an increase of 42.6% ebit reaching 6.8 million pounds ( 8.6 million Euros) and worldwide total sales of 152 million pounds (192 million Euros) , an increase of 4 % compared to the prior fiscal year. Direct sales in the UK... Continue Reading →
Alibaba is now the biggest retailer in the world Woman walking past an Alibaba advertisement on a wall in Hangzhou Alibaba has overtaken Wal-mart as the biggest retailer in the world. The Chinese ecommerce business, which went public last month, leapfrogged the US supermarket giant as its valuation soared past $251bn. Alibaba started the day... Continue Reading →
American department store Macy’s on Tuesday announced it plans to open its first outlet outside the US at Al Maryah Central, on Abu Dhabi’s Al Maryah Island. The agreement with Gulf Related and Al Tayer Group also includes plans for the second Bloomingdale’s department store in the UAE at the same location, which at 230,000... Continue Reading →
Saudi Arabian retail conglomerate Fawaz A. Alhokair & Co to bring its Old Navy brand to the Middle East. Fashion retail group Gap Inc has agreed a franchising deal that will see the company open Old Navy stores across Saudi Arabia. Two stores will open – in the Riyadh and Dammam districts of the kingdom... Continue Reading →
CLICKS Group is ploughing ahead with plans to open up to 25 new Clicks stores. This has raised questions from analysts on why Clicks is focusing so intently on South Africa, perhaps at the expense of expanding in Africa. "Most retailers look overseas when they've run out of road at home, and we haven't," CEO... Continue Reading →
Victoria Beckham, the pop star, model and Wag who reinvented herself as a fashion designer, has topped a list of Britain’s 100 most successful entrepreneurs of 2014. The woman formerly known as Posh Spice came in at No 1 in the list compiled for business magazine Management Today. The rankings are drawn up by assessing... Continue Reading →
While retail can get swept up in the newest cross-channel strategy and payment technologies, it’s a company’s long-term vision that ultimately determines longevity in this sometimes volatile sector. Harvard Business Review recently released its annual list of the 100 best-performing CEOs in the world, assessing the heads of companies in the S&P Global 1200 by... Continue Reading →
Tesco Plc (TSCO) and its directors misled investors about its financial health, according to a Texas retirement fund that sued the U.K.’s biggest retailer, adding to a year with which Tesco was plagued by accounting irregularities and increased competition. The grocer’s sales have fallen under pressure from German discount rivals Aldi and Lidl, and its... Continue Reading →
Tesco Plc (TSCO) and its directors misled investors about its financial health, according to a Texas retirement fund that sued the U.K.’s biggest retailer, adding to a year with which Tesco was plagued by accounting irregularities and increased competition. The grocer’s sales have fallen under pressure from German discount rivals Aldi and Lidl, and its... Continue Reading →
Gucci’s new China chief has a tough task: Make the Italian brand’s name shine in a market where luxury is increasingly common. The luxury brand on Thursday named Merinda Yeung, its Taiwan division chief, to run its China operations.
Swiss luxury brand BALLY (owned by JAB Holdings) unveiled today the new London flagship store designed exclusively by David Chipperfield Architects, located at 45-46 New Bond Street, London’s prime luxury shopping destination. The interior design has been inspired by a historical image from the archive of shoe boxes lining the wall in a Bally store... Continue Reading →
Prada opened this week two new stores in Mexico, one in Cancun (420 sqm) at the La Islae Mall and the other one in Mexico City (250 sqm) on Avenida Presidente Masaryk. Both new Prada stores feature men’s and women’s ready to wear, accessories and leather-wear. The two new openings bring the total number of... Continue Reading →
SHARES in cheap-chic retailer Mr Price rose as much as 3.51% on Thursday after the group said it expected earnings to increase as much as 24%. The value retailer, whose budget-conscious offerings continue to appeal to shoppers, is bucking the broader retail trend of slower growth and stealing market share from higher-priced players such as... Continue Reading →
Seattle -- The red ink got worse at Amazon in its third quarter as the Internet giant reported a net loss of $437 million in the third quarter, worse than analysts expected, compared with a net loss of $41 million in the year-ago period. Net sales increased 20% to $20.58 billion in the quarter ended... Continue Reading →
Patrik Frisk, head of VF Corp. (VFC)’s Timberland business, is leaving the company to become chief executive officer of the shoe retailer Aldo Group. “After over 10 wonderful years at VF Corporation, I have decided to move on and take on a new challenge,” Frisk said today in an e-mail. “From November, I will be... Continue Reading →
Debenhams on Thursday morning posted a 20.6 per cent decline in full year profit, in line with market expectations as the business focused on ‘long-term sustainable growth’ and addressing the issues it of its first half operational losses. Britain’s second largest department store chain said underlying pretax profit came in at £110.3 million in the... Continue Reading →
Sir Richard Broadbent has announced he will leave the UK’s largest retailer following the announcement of a bigger-than-expected hole in its profits. Reports emerged last month that Tesco had overstated its profits by an estimated £250 million. Even just a few days ago, rumours that this could be a ‘worst case scenario’ and that the... Continue Reading →
The owner of the DIY chain Homebase is to close a quarter of its stores over the next three years, leaving thousands of jobs hanging in the balance. Home Retail Group (HRG), which made the announcement as it confirmed its half-year results, said it planned to shut 25% of its 323 stores by 2018 through... Continue Reading →
ONDON (Reuters) - SuperGroup, the British company behind the Superdry fashion brand, on Wednesday named ex-Co-operative Group boss Euan Sutherland as its new chief executive, replacing its founder Julian Dunkerton. Sutherland, who has over 19 years experience in the retail sector having held roles with firms such as B&Q, Dixons and Coca-Cola, had been a... Continue Reading →
Qatar Holding LLC has agreed to pay USD616 million for about one fifth of Lifestyle International Holdings, a department operator in Hong Kong and mainland China – the latest addition of a high-end retail brand to the sovereign wealth fund's portfolio. Lifestyle's stores include a Sogo branded store in Hong Kong's bustling shopping district of... Continue Reading →
Arcadia Group owned Outfit has signed deals with shopping centre operator British Land for a total of 50,000 square feet of space across four retail parks. Outfit, which provides a one-stop shop for Arcadia brands such as Burton, Topshop, Miss Selfridge, Dorothy Perkins and Wallis, has taken 12,500 square feet at both the Mayflower Retail... Continue Reading →
Niwot, Colo. -- Crocs Inc. is enacting several key management changes, including the appointment of Bob Munroe to general manager of Crocs Americas region; Greg Sullivan to the new role of senior VP of global business transformation; Scott Yuan to general manager of Greater China; and Michelle Poole to senior VP of global product creation... Continue Reading →
Thousands queued for the grand opening of H&M's flagship store in the Philippines on 17 October following a shopping party two nights before. Dance music, surprises, best prices and a giant shopping bag sitting on top of SM Megamall’s Fashion Hall greeted shoppers. CEO Karl-Johan Persson led the ribbon cutting ceremony with Magnus Olsson, Country... Continue Reading →
The 2nd year Retail Congress Africa will provide a deeper insight into the African retail opportunities and challenges by identifying the new African consumer, analysing key market trends and practices and examining country specific case studies. The founding aims of Retail Congress Africa are to provide an insight into African retail, a vision of best... Continue Reading →
convenience market experience to bear on 700 chemists bought from Co-operative Group as Boots is also tipped to join the fray, reports today’s Independent Retail News. Pharmacies and convenience stores could start to come together across the UK following the £620m takeover by Bestway of the 700-strong Co-operative Pharmacy chain, which completed last week. The... Continue Reading →
Tesco probe finds evidence of inappropriate behaviour by staff THE INVESTIGATION into Tesco’s £250m black hole is understood to have found evidence that a small group of staff deliberately misled its auditors as they struggle to meet sales targets. The UK’s largest supermarket chain is due to report its delayed half year results on Thursday,... Continue Reading →
Furla has extended its global travel retail presence with the opening of two outlets within Harrods stores at London Heathrow Terminal 3 and London Gatwick South Terminal. The stores officially opened in September and showcase Furla’s Autumn Winter 2014/2015 collection. Furla Global Travel Retail Director Gerry Munday said: “It has been a delight to work... Continue Reading →
Since gradually taking over direct operations in Russia, starting with last year, Gucci has now opened two new stores in Moscow, on the prestigious Petrovka Street (1,000 sqm on 3 floors) and within the GUM Department store (250 sqm). Besides men’s and women’s ready to wear and accessories collections, the stores feature the “Made To... Continue Reading →
As Ghana's growth surpasses that of South Africa and its consumers become more receptive to new brands, Pick n Pay has decided to grab the opportunity to expand into this market South African retail gian Pick n Pay says it is casting its net wider to catch more business opportunities as it looks to venture... Continue Reading →
Sears Holding Corp. (SHLD), the unprofitable department-store chain seeking fresh ways to raise money, will lease space to Primark Stores Ltd., a British budget-clothing retailer that’s expanding in the U.S. Primark will set up shop in seven Sears stores in the Northeast, according to a statement today. Separately, Hoffman Estates, Illinois-based Sears announced a rights... Continue Reading →
WHSmith to launch standalone budget greetings cards chain WHSmith plans to join the craze for budget retailing by launching a standalone chain selling cheap greetings cards. The stores, branded Cardmarket, will target the lower end of the market not covered by WHSmith’s branches. Introducing cheap cards to existing stores could eat into premium card sales... Continue Reading →
Zara has launched its official online store on Tmall.com, hoping to put the brand's products within easy reach of the online platform's tens of millions of customers. Zara.tmall.com will offer online Chinese shoppersthe same full range of products for women, men and kids as that found on http://www.zara.cn and in Zara's stores across China. The... Continue Reading →
British menswear brand, Hackett London is set to open a new store on Old Broad Street in the City of London in November. The 150 sq m space will incorporate Hackett's signature Georgian influences as well as introduce new sleek and modern elements. The store will be divided into five different rooms, all joined by... Continue Reading →
The new Prada store in Sao Paulo is located within the Citade Jardim Mall. It covers a total area of 415 square metres on a single level and houses the men’s and women’s ready-to-wear, bags, accessories and footwear collections.The façade, clad in black Marquina marble and framed by polished steel profiles, is characterised by a... Continue Reading →
Bond Street will see a 50 percent increase in pedestrian space There will be an increase in pedestrian space by 50 percent in addition to expanding on-street parking, as upgrading the look with new lighting, signage and public art installations. There will also be some re-landscaping of the public oasis between New and Old Bond... Continue Reading →
The availability of retail space in prime locations continues to tighten, with some prime shopping centre schemes operating at 90-100% capacity and just 2.6% high street vacancy in Dublin city centre. Demand from overseas retailers remains strong as they continue to look to expand their operations in Ireland, but they are mostly focused on prime... Continue Reading →
Developer Aldar plans to open the new 235,000 square metre mall a few days before the Abu Dhabi Grand Prix next month.
Even as a new report showed that global wealth had jumped to a record $263 trillion, shares in two of Britain’s biggest luxury goods groups were taking a battering yesterday. The once high-flying Mulberry saw its stock market value slashed by more than a fifth at one stage, as the handbags and accessories group issued... Continue Reading →
London - British supermarket Sainsbury's is to halve the number of Nectar reward points it gives holders of its loyalty card in the latest sign that an escalating price war is forcing grocers to re-evaluate the merits of shopper retention schemes. Sainsbury's, which is battling with Wal-Mart Stores' Asda to be Britain's No.2 grocer behind... Continue Reading →
UK retailer Marks & Spencer has revealed plans to launch 38 brand new stores in India by the year 2016 – which will boost the number of branches to 80. On the 9th of October this year it opened a new space in Hyderabad at Jubilee Hills, and the aim is to open two more... Continue Reading →
Reuters) - Hennes & Mauritz (HMb.ST), the world's second-biggest fashion retailer, reported on Wednesday an 8 percent increase in sales in September, in line with analyst forecasts. The Swedish budget fashion retailer, which already reported sales for most of September in its third-quarter earnings results, was seen posting a 7.5 percent rise in sales according... Continue Reading →
Pelipod launches smart home-parcel pods to UK consumers Pelipod Smart home-parcel pod Pelipod, a smart home-parcel box with built-in proof-of-delivery that saves time, money and worry for consumers, couriers and retailers, is launching in the UK with a free 60-day trial. Designed and funded in Britain using English and Welsh manufacturers, Pelipod is claimed to... Continue Reading →
Camera retailer Jessops has today (8 October) opened the first of a number of shops in Sainsbury's supermarkets. The Jessops Photography Store in the Sainsbury's Superstore in Newport, South Wales, will be followed by further sites at Waterlooville in mid-December and Maidenhead in January 2015. The new Jessops Photography Stores will include a photo-print service... Continue Reading →
Download the full pdf here
Retail rents in Dubai’s major malls have risen by 25 percent in the last year, according to industry sources. Demand from retailers is outstripping supply, with rents having reached over AED6,000 ($1,633) per square metre, compared to AED4,800 per square metre last year, according to David Macadam, the chief executive of the Middle East Council... Continue Reading →
London’s famous department store Harrods is facing a boycott in a protest against its Qatari owners. The protest is centred on Qatar’s alleged links to funding terrorist organisations or turning a blind eye to financiers operating out of Qatar, according to the UK’s The Telegraph newspaper. Harrods was bought by Qatar Holdings, part of Qatar... Continue Reading →
Dubai: Landmark Group is planning to open 20 stores in Egypt in the next 12 to 24 months, according to the group’s top executive. The Dubai-based retail and hospitality group is investing around Dh400-500 million for the expansion, said Vipen Sethi, the group’s chief executive. “We will bring [the stores] into Cairo, we will see... Continue Reading →
retail news 