Avon Products Inc. AVP, +1.17% said Wednesday it hired James Scully away from J. Crew Group Inc. to be its new chief financial officer. Scully has been J. Crew’s chief operating officer for nearly two years and with the retailer for a decade. His exit follows the departure of Stuart Haselden, its chief financial officer,... Continue Reading →
Argos has announced plans to create digital stores inside existing branches of Sainsbury's in a drive to reach more customers. The general merchandise retailer will trial 10 stores, ranging from 1,000 to over 5,000 square feet, where customers will be able to purchase non-grocery items. Customers will be given a choice of 20,000 products which... Continue Reading →
Stockholm-based retailer Hennes & Mauritz AB, known to its customers as H&M, reported a 2014 profit increase of 17% in 2014 and says it will open 400 new stores, mainly in the U.S. and China. As H&M accelerates its plans for new stores, they include adding new markets in South Africa, India, and Peru, the... Continue Reading →
Sears Holdings Corp. Wednesday announced layoffs of 115 corporate employees, including 100 at its Hoffman Estates, IL headquarters. The cuts, effective immediately, are in various departments throughout the retailer’s corporate organization, the company said. The move is another in a series of measures to cut costs and restructure as the retailer tries to offset continuing... Continue Reading →
Could Asos boss Nick Robertson be in the market for a new wardrobe? The online fashion retailer announced, after markets closed last night, that its founder and chief executive has trousered £20m through the sale of 744,600 Asos shares. Mr Robertson, who set up the business in 2000, still controls an 8.39 per cent stake.... Continue Reading →
BHS is holding property assets worth between £100m and £200m, driving interest in the department store retailer from potential buyers despite the fact it has been losing money on the high street. The value of BHS’s assets has not previously been disclosed, but City sources said its property was worth between £100m and £200m, making... Continue Reading →
Apple has posted a record-breaking set of quarterly results, with sales of the iPhone 6 growing well ahead of expectations. The technology giant said that sales rose 29.5pc in the final three months of 2014 to $74.6bn (£48bn), ahead of expectations on Wall Street that sales would reach $67.7bn. The surge in sales helped Apple’s... Continue Reading →
Tommy Hilfiger, owned by Phillips-Van Heusen (PVH) Corporation, one of the leading American garment companies, has launched an innovative digital sales showroom, located at its global headquarters in Amsterdam, the Netherlands. The digital showroom revolutionizes the sales experience for retailers by offering them a more engaging and seamless buying approach. The interactive system blends collection... Continue Reading →
Index Living Mall Co, a Thailand's home furnishings and décor company, has signed a contract with SM Group, the Philippines' largest retail conglomerate. SM will be the franchisee for Index Living Mall furniture outlets in that country next year. Index Living Mall also has stores in Nepal, the Maldives and Russia. In Malaysia, it plans... Continue Reading →
French luxury maison Carven is adding to its recently opened Manhattan store, a second store in the U.S. in Los Angeles. The new store will feature both men’s and women’s collections, ready to wear and accessories. Carven is currently undergoing a change of its creative management team. Carven appointed today Barnabe Hardy (formerly an assistant... Continue Reading →
German womenswear brand Gerry Weber has appointed the founder’s son Ralf Weber as its new chief executive. Weber, whose father is Gerhard Weber, will take up his new role on 25 February. Having joined the Gerry Weber board in 2013, Weber is currently responsible for sales and corporate development and will now take on additional... Continue Reading →
The Japanese clothing retailer, with 1,500 stores globally, is entering the Canadian market with locations at Eaton Centre and Yorkdale. Uniqlo, a leading Japanese clothing retailer, is announcing Monday it will open two flagship stores in Toronto in the fall of 2016: one at Yorkdale Shopping Centre and one at the Toronto Eaton Centre. Uniqlo... Continue Reading →
UAE e-commerce retailer Namshi said on Monday it has opened a new and expanded warehouse facility to cope with increasing orders. The web company, which specialises in fashion and lifestyle retail, said the storage facility is eight times larger with the capability to house 1.7 million additional stock items. It said in a statement that... Continue Reading →
Milton Keynes, UK, 2015-1-23 — /EPR Retail News/ — Leading digital retailer Argos has announced that it will be launching an exclusive UK fashion range with Cherokee, offering a range of clothing, accessories and footwear for the Autumn / Winter 2015 season. Customers will be able to choose from a range of high quality, stylish... Continue Reading →
The first retail and dining concept store is set to open in Abu Dhabi’s Yas Mall in May, with plans also lined up for Dubai. UAE-based retail firm Marka announced that it has teamed up with European football governing body UEFA to develop ‘Champions League Experience’ concept stores across the Middle East. The inaugural store... Continue Reading →
Sir Philip Green is considering selling the department store chain BHS after receiving "several approaches". BHS is part of the Arcadia Group, controlled by Sir Philip, which includes TopShop, Burton and Evans. Founded in 1928 in London's Brixton, BHS has 180 stores and employs almost 12,000 staff. But the chain has been struggling. In 2013... Continue Reading →
the Dubai-based shopping mall, retail and leisure company, has announced the appointment of Michael Cesarz as CEO of its shopping malls business unit. Cesarz is the second senior appointment made by Majid Al Futtaim recently following the appointment of Rajiv Suri as the new CEO of its retail arm, Majid Al Futtaim - Fashion. Ghaith... Continue Reading →
Pepkor UK, the investment firm set up by former Asda chief executive Andy Bond and South African billionaire Christo Wiese, has announced it will launch a new discount fashion chain in the UK called Pep&Co. An initial 50 Pep&Co stores will open this summer, with more in the pipeline. The chain will be led by... Continue Reading →
Abu Dhabi: Brooks Brothers, the US-based fashion retailer, is expected to open 15-20 outlets in the GCC region over the next five years, according to its chairman and chief executive officer, Claudio Del Vecchio. Speaking to Gulf News on Monday at the launch of their first Abu Dhabi outlet in Yas Mall, Del Vecchio said... Continue Reading →
Austin Reed Group is set to close 31 stores and receive a £3m cash injection from shareholders under a deal with creditors to rescue the tailoring brand, which counts IMF chief Christine Lagarde among its customers. The 114-year-old, privately owned company, which also owns Viyella and CC (previously Country Casuals), is hoping to strike a... Continue Reading →
Dunes Stores workers are set to ballot over the coming weeks for industrial action due to issues over their working conditions. Mandate, the trade union representing 40% of Dunnes 15,000 workers said the balloting process will take place in a few weeks and it will decide whether strike action will prevail. The union said that... Continue Reading →
Cash-based retailer Mr Price Group said on Thursday it had maintained its 14.2% sales growth rate through the third quarter of its 2015 financial year, buoyed by cash sales and its apparel stores. Growth in the third quarter to December 27 matched the one in the first half of the financial year. Mr Price said... Continue Reading →
The group said it had acquired Phase Eight from TowerBrook Capital‚ which was exiting the business completely. Foschini said in its rationale for the acquisition that Phase Eight had achieved consistent growth in sales and profitability. It said the company satisfied four specific criteria in Foschini's expansion strategy namely: it had a good track record... Continue Reading →
Retailer says sales in festive period were 12pc higher than a year earlier JD Sports has told investors its profits before tax and exceptional items will be higher than the £90m currently expected after a bumper Christmas. The FTSE 250 sports retailer said like-for-like sales in the crucial festive trading period, which spans the five... Continue Reading →
The Swedish company is one of 37 caught and fined by HM Revenue & Customs for breaking the law The Swedish company is one of 37 caught and fined by HM Revenue & Customs for breaking the law by failing to pay workers, who were owed a total of more than £177,000. At H&M, 540... Continue Reading →
In a twist on its annual Bright Young Things scheme, Selfridges has introduced Bright Old Things – readjusting the lens with which we view creative talent and removing age restrictions. With the ages of the participating artists, designers, musicians and entrepreneurs ranging from late 40s to mid 80s, Selfridges acknowledges that ‘old’ is as subjective... Continue Reading →
Asda boss: This will be the toughest ever year for supermarkets The boss of Asda has warned that supermarkets face their “toughest” ever year as they battle falling sales and a brutal price war. Andy Clarke, chief executive of Asda, told staff in an email that the retailer is facing “even greater challenges than last... Continue Reading →
SHOPRITE increased its turnover for the six months ended December 2014 by about 12.5% from the previous comparable period to R57.5bn, the supermarket group said in an operational update on Wednesday. Growth on a like-for-like basis was 5.1% and the South African supermarket operation increased sales by 12%. The food division benefited from strong sales... Continue Reading →
Online-only grocer Ocado on Wednesday revealed gross retail sales had improved 14.8 per cent year-on-year for December, as the company managed to maintain the sales growth it achieved in the final quarter of its 2013-2014. In the seven days leading up to Christmas Ocado processed nearly 40 per cent more items for Ocado.com and Morrisons.com... Continue Reading →
Morrisons has said its chief executive Dalton Philips will step down later this year, following another set of disappointing sales figures for the supermarket over the Christmas period. Philips, who has led Britain's fourth largest supermarket for five years, will stay in the role until the end of year results in March to ensure a... Continue Reading →
Cincinnati -- In response to changes in “where the customer is headed,” Macy’s chief announced on Thursday a sweeping reorganization plan that will close 14 under-performing stores, lay off thousands of workers and, most far-reaching, ready the retailer to respond to an omnichannel shopping environment. According to a statement by Terry Lundgren, Macy’s chairman and... Continue Reading →
Tiffany & Co. (TIF) shares fell the most in more than 10 years after a sluggish holiday season spurred the luxury jewelry chain to cut its annual forecast. Sales in November and December declined 1 percent to $1.02 billion worldwide, the New York-based company said today in a statement. Currency fluctuations and a continued slump... Continue Reading →
A new Zara store will rise in Inditex’s newly acquired 4,400-square metre commercial property in the heart of New York's SoHo Cast Iron Historic District, one of the world's best known shopping districts. The new store, to be located in a building at 503-511 Broadway, between Broome and Spring Streets, complements recent flagship store openings... Continue Reading →
New York -- Embattled apparel retailer Body Central has gone out of business and closed its entire remaining store base, effective Sunday evening, according to attorney for the company Gardner Davis. Based in Jacksonville, Florida, the 265-store Body Central Corp. had said earlier this week that it was "experiencing significant liquidity challenges" and was working... Continue Reading →
Among the first stores to be opened are many brand names including Tod's, Salvatore Ferragamo, Giorgio Armani, Loewe, Hugo Boss, Versace, Polo Ralph Lauren, Marc Jacobs, Michael Hors, Coach, Mothercare, Jimmy Choo and Zegna. The mall is located at the A18 HSR Taoyuan Station on the Taoyuan International Airport MRT. The line is scheduled to... Continue Reading →
Tesco express store The beleaguered supermarket Tesco has said it will close 43 unprofitable stores across the UK - more than half of which will be local convenience shops, known as Tesco Express. The firm is also shelving plans to open a further 49 new "very large" stores. Additionally, Tesco is closing its staff pension... Continue Reading →
GLOBAL coffee giant, Starbucks, is to open its first Cork City centre store, at no 39 Princes Street, a few doors away from the famed English Market. The Seattle-based coffee house and retail chain has 21,000 outlets, in 68 countries, the latest being Vietnam and Colombia. It opened in the UK in 1998, and now... Continue Reading →
Following in the footsteps of troubled teen retailer Wet Seal, Sports Direct is reportedly preparing to shut down a third of its USC stores, endangering hundred of jobs at the apparel retailer. The company's directors, who are led by Dave Forsey, Sports Direct chief executive, filed a notice of intention to appoint receivers at the... Continue Reading →
Canton, Mass. – Dunkin' Donuts has signed the largest development agreement in the company's history with the goal of expanding Dunkin' Donuts in China. The retailer plans to open more than 1,400 new stores across China in the next 20 years. Dunkin’ Donuts has entered into a long-term master franchise agreement in which Golden Cup... Continue Reading →
Tesco Plc (TSCO) named Halfords Group Plc’s Matt Davies as the head of U.K. and Ireland, tasking an executive described as a stickler for service with rebuilding its largest business amid a slump in market share. The appointment of the 44-year-old, which takes effect in June, is the most significant of Tesco Chief Executive Officer... Continue Reading →
Marks & Spencer is still struggling with problems at its hi-tech distribution centre in Castle Donington, even after the trading peaks of Black Friday and Christmas. Well-placed sources said that the 900,000 sq ft warehouse, which opened 18 months ago, could be processing a third fewer items than it had expected to be handling by... Continue Reading →
Shares in boohoo.com crashed by more than 40pc after the online fashion retailer warned that an advertising spree in autumn and winter has failed to boost sales as much as hoped. In a major profit warning, boohoo.com said that sales growth in the UK had slowed to 25pc in the four months to December 31... Continue Reading →
The new Burberry store will be located witin 39th Street and under the design direction of Chief Creative and CEO Christopher Bailey, according to a statement from the brand. Burberry’s content and live events will be broadcast directly onto video screens with enhanced audio-visual capabilities in the Miami store. The stream comes from the brand’s... Continue Reading →
The department store had a good holiday season. Shares of JC Penney are exploding in after-hours trade after the retailer reported holiday same-store sales that jumped 3.7% from the same period last year. In after-hours trade, shares were up as much as 15%, to $7.24. On Tuesday, the stock closed at $6.24. JC Penney defined... Continue Reading →
William Russell and team have designed Nigel Cabourn's new flagship store in London. Based in Covent Garden, The Army Gym is Cabourn's first outside of Japan. The brand is inspired by traditional British military uniforms and iconic outerwear of famous explorers, and this is reflected in the store's interior. As with all of Cabourn's stores,... Continue Reading →
House of Fraser beats John Lewis in Christmas sales battle House of Fraser, the department store chain, says it is "delighted" with its performance during the vital Christmas period after recording an 8pc rise in like-for-like sales. The performance from House of Fraser is better than that of rival John Lewis, which said its like-for-like... Continue Reading →
The Fragrance Shop said it experienced a successful festive period as multi-channel retailing continued to boost sales. In the five weeks to 27 December, total sales rose by 11.8% while underlying like-for-like sales edged up 5%. Multi-channel retailing continued to fuel sales which led to strong growth in customers using the retailer’s Click and Collect... Continue Reading →
Amazon shipped about 5bn items in 2014, the company has revealed, with more than 40% of those products sold by third-party sellers on its service. The company famously prefers not to release too many hard figures on its business, so its claim that worldwide, third-party sellers sold more than 2bn items in 2014 will be... Continue Reading →
Johnsons dry cleaners in Kent The company behind Johnson Cleaners, Britain’s largest dry-cleaning chain, plans to shut more than a third of its 307 high street outlets, with the likely loss of about 450 jobs. Citing a “difficult high street environment”, Johnson Service Group said it will close 109 highstreet stores in the next six... Continue Reading →
Retailer Truworths is set to become the dominant player in the money-spinning children’s-wear market after agreeing to buy iconic specialists Naartjie and Earthchild. The acquisition of the two specialist retailers — both based in Cape Town — for an undisclosed cash amount, is being finalised and is awaiting the conclusion of agreements and regulatory approval.... Continue Reading →
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