Kingfisher to close 60 B&Q stores in Britain

«Top NewsTue Mar 31, 2015 7:52am BSTLONDON (Reuters) - Kingfisher (KGF.L), Europe's biggest home improvement retailer, said on Tuesday it planned to close about 60 underperforming B&Q stores in Britain as the group posted a 7.5 percent fall in annual profit.The store closures form part of new Chief Executive Veronique Laury's plan to shake-up the... Continue Reading →

Prada’s profit takes a hit from China

Luxury retailer Prada says the company will implement cost-cutting measuresItalian luxury goods retailer Prada saw its net profit fall 28% last year as sales slumped in major markets of China and Europe.The firm's net income was €451m ($490m; £330m) for the year ending 31 January, down from €628m a year ago.The amount also fell short... Continue Reading →

Benetton family sells stake in World Duty Free

The Benetton family has sold its controlling stake in World Duty Free to Switzerland's Dufry.The deal creates the world largest travel retailer, with a market share of 25% and projected annual sales of $9bn (€8.3bn; £6bn).Dufry is paying €10.25 a share for the 50.1% stake, valuing the group at €3.6bn.World Duty Free operates 495 stores in... Continue Reading →

More senior staff get the axe at Morrisons

THE chief executive of Morrisons, David Potts, is continuing his cull of senior management, following last week's decision to cut five members of its 11-strong board.Around 20 members of top-level staff are set to be cut in an attempt to make the supermarket giant a "leaner" organisation.A Morrisons spokesman said: ”Following last week’s announcement of... Continue Reading →

Tesco Ireland appoints new CEO

Tesco Ireland appoints new CEOAndrew Yaxley, new Tesco Ireland CEONewsRead More: Tesco Ireland25 March 2015 | 0Phil J Clarke is retiring in AprilAndrew Yaxley has been announced as the new CEO of Tesco Ireland. Yaxley (47) is currently the managing director of Tesco’s London business. Prior to that he held a number of positions in the commercial function... Continue Reading →

Halfords Group on Monday announced the appointment of Jill McDonald as chief executive, with effect of 11th May.

Halfords appoints new CEOThe current CEO, UK and president of North West Europe for McDonald’s Corporation, McDonald also counts Colgate Palmolive and British Airways in her resume.Speaking in light of the announcement, Halfords chairman Dennis Millard said:“We are delighted to have recruited Jill, who has a strong track record of heading a large, complex, service-led... Continue Reading →

Record earnings for Tiffany in 2014

American jewelry house of Tiffany reports full year 2014 worldwide net sales rose to $4.25 billion, which represented a 5% increase in dollars or a 7% increase on a constant exchange rate basis which was on top of a 10% increase in 2013 on that same basis.Tiffany net earnings for the full year rose 167% to $484... Continue Reading →

H&M 1Q15 sales up 15pc

Swedish fashion retailer H&M said on Monday that sales including value-added tax (VAT) rose 15 percent in local currencies in February 2015 compared to the same month the previous year.In the first quarter from 1 December 2014 to 28 February 2015, sales jumped 15 percent including VAT in local currencies compared to the corresponding quarter... Continue Reading →

Homebase appoints new managing director

Home and garden retailer Homebase has announced the appointment of Echo Lu as managing director of the company. Lu, who is set to take up her new position on April 20, joins the company from Tesco where she worked over the past 10 years across different markets, including group business planning & insight director and property... Continue Reading →

Topshop and Topman opens first New Zealand flagship

Arcadia’s flagship brands Topshop and Topman has opened its first flagship in Auckland, New Zealand, after Top Retail, a company founded by fashion designer Karen Walker, menswear retailer Barkers, and a third, silent partner, secured the rights to own, develop and operate the brands in the country. The 10,000 square foot, two-floor flagship on Queen Street,... Continue Reading →

WH Smith opens six stores at Sydney airport

WH Smith is to open six outlets at Australia’s Sydney airport following a “competitive tender process”.The new stores are part of the airport’s plans to transform the T1 terminal and the first outlet will open in August, according to the Sydney Morning Herald. “This is a real evolution from the traditional ‘books and news’ operations and introduces... Continue Reading →

Fashion chain on course for first store in Ireland

AEROPOSTALE, an American retailer which owns more than 1,000 fashion stores aimed at children and teenagers, has announced plans to expand into Ireland later this year.In a conference call last week, the New York-based company said that it expected to open in Ireland within six months after reaching an “exciting” licensing agreement with a local... Continue Reading →

Prada opens new stores in S Korea, HK

Source:  Retail in Asia Italian luxury house Prada opened two new stores in Asia last week – one in Hong Kong, one in South Korea.Opened on 2 March, the new Seoul store is located at the Shinsegae Main department store, covering a total area of approximately 165 square metres and housing the men's ready-to-wear, leather goods, accessories... Continue Reading →

Burberry opens its 1st freestanding store in Osaka

Burberry on Monday opened its first freestanding store in Shinsaibashi, Osaka.Set over two floors, the new store houses the largest Burberry product assortment in Osaka, including the brand's collection of iconic Made in England trench coats. In-store digital screens showcase Burberry content and broadcast live events directly from the brand's global headquarters in London, enabled... Continue Reading →

BHS owners reveal bold rescue plan

THE little-known new owners of BHS have spoken out for the first time to reveal their ambitious plans to turn around the department store chain, claiming it is a “very big challenge” and will take “at least two years” to get it back into profit. Keith Smith, chairman of the vehicle that has bought BHS, told... Continue Reading →

Morrisons reports loss of £792m

The struggling chain also highlighted another year of falling sales as underlying profits - excluding the £1.3 billion one-off property hit - fell 52% to £345 million in the year to February 1.It announced that it will close 23 under-performing M Local stores during the current financial year, having recently disclosed plans to shut 10... Continue Reading →

Sir Philip Green Sells BHS To Retail Firm

Sir Philip Green has sold loss-making high street chain BHS to a retail vehicle for an undisclosed sum.The tycoon, who owned the department store business for almost 15 years, had put it up for sale earlier this year after receiving a number of approaches.

Fendi prepares for ecommerce with new Web site

Fendi’s new Web siteItalian fashion house Fendi is updating its online image with a new Web site that streamlines navigation and caters to consumers’ needs.The brand has released a new ecommerce feature for its European sites, and the Web site redesign was likely in preparation for this addition. By staying up-to-date on the latest technology, Fendi is... Continue Reading →

Juicy Couture plans global expansion

New York -- Juicy Couture, which was acquired by Authentic Brands Group in 2013, may no longer be a coveted brand in the United States, but it is still has great appeal in foreign markets. The company expects to open 133 stores (through its various licensing partners) during the next five years, according to Women's Wear Daily.Juicy... Continue Reading →

Dunnes Stores staff vote for industrial action

The majority of Dunnes Stores staff have voted for industrial action over work contracts and pay conditions.Members of Mandate Trade Union voted with a majority of 67% in favour of the industrial action on 6 March.Gerry Light, Mandate’s assistant general secretary said the nature and timing of industrial action will take place within the following... Continue Reading →

COACH to open first Paris store

The American fashion house COACH is opening its first mono-brand store in France, in Fall. The new Coach store in Paris will be situated at 372-374 Rue Saint-Honoré and will cover a 6,500-square-foot space. Back in December, Coach only had 20 upgraded stores open across the globe, but the brand plans to open another 50 to 60 in 2015... Continue Reading →

Prada opens first store in Vietnam

Prada opened its first store in Vietnam, in the heart of Hoan Kiem, Hanoi’s prestigious shopping district.The space, designed by architect Roberto Baciocchi, covers a total area of 360 square metres on a single level and houses the women’s and men’s leather goods, accessories and footwear collections.The store is strategically located in one of Hanoi’s... Continue Reading →

Benefit relives the 1950s with Soho pop-up

Benefit has launched a 1950s pop-up beauty parlour at 26 Greek Street, Soho to promote its Roller Lash mascara. The Curl's Best Friend curl and cocktail bar, which will run for a month, is spread across three floors and is dedicated to embracing the 'curl'.Designed by creative design agency The Persuaders, the venue allows visitors... Continue Reading →

Foschini plans to expand across continent

THE Foschini Group aims to almost triple the number of its stores across the rest of Africa over the next five years, its chief executive said on Tuesday.Foschini is the biggest reseller of Adidas and Nike products in South Africa where it is the third-biggest clothing retailer by market value and operates more than 2,000... Continue Reading →

Crocs Q4 revenues down 9.7 percent

REPORT GAAP revenue increased 0.5 percent for the fiscal year 2014 to 1.2 billion dollars. On a constant currency basis, revenue increased 1.8 percent as compared to the prior year. For the fourth quarter, revenue was 206.5 million dollars, a decline of 9.7 percent as compared to the fourth quarter of 2013. On a constant currency... Continue Reading →

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