Discount retail is digging in as B&M buys 12 B&Q stores B&M Bargains, the cut-price variety retailer chaired by the former Tesco boss Sir Terry Leahy, is understood to have snapped up 12 of the 14 sites that have so far been sold by the Kingfisher-owned B&Q, Britain’s biggest DIY retailer. B&Q has previously revealed... Continue Reading →
U.S. fashion house of Tommy Hilfiger, which is owned by PVH Corp., recently announced the addition of furniture to the Tommy Hilfiger Home collections. Available in the United States and Latin America as of fall 2015, the furniture collection will be offered in two collections and available through key department stores, specialty stores,... Continue Reading →
Louis Vuitton and Chanel were the only big luxury brands to increase in value last year as the industry grappled with slowing sales in China and Russia, research company Millward Brown said Wednesday in the 2015 BrandZ study. Vuitton gained 6 percent to $27.4 billion, placing LVMH Moet Hennessy Louis Vuitton SE’s biggest brand... Continue Reading →
Argos opens first digital stores in Sainsbury’s supermarkets Argos is to open its first digital stores within Sainsbury’s supermarkets today as part of plans to open ten of the shops across the supermarket chain this summer. The stores in North Cheam in Surrey and Nantwich in Cheshire will be the smaller, new format Argos... Continue Reading →
Arcadia’s fashion chains Topshop and Topman have been ranked Britain’s worst fashion shops, closely followed by H&M and BHS, in the annual retailer survey by consumer watchdog Which?. The annual survey of 100 well-known high street names, surveyed 9,409 members of the public to rate stores based on their prices, store environment, customer service... Continue Reading →
New York - Earlier this year, Chanel announced that they would begin e-commerce operations in 2016. It was news that was met with applause by the fashion industry, and as it was announced on April 1 (April Fool's Day), many were hesitant to believe the news was even true. Before the legendary French fashion house... Continue Reading →
A new 'connected letterbox' from Irish technology company Parcelhome is being piloted in Belgium with carriers DHL, GLS and DPD. International carrier networks DHL, GLS and DPD are involved in a new 'smart letterbox' pilot scheme that aims to increase the percentage of parcel deliveries completed first time. The rival carriers are working in collaboration... Continue Reading →
Highest Paid CEOs in Retail: Target Tops the List It still pays to be a top CEO. According to the Equilar 200 Highest-Paid CEO Rankings, conducted for The New York Times, the highest total compensation in 2014 for a Chief Executive Officer was $156 million. Brian C. Cornell from Target ranked as the highest paid... Continue Reading →
RETAILER NEWS IOL Business - May 25th, 09:23 Mr Price Group extended gains after the clothing, furniture and linen retailer declared a dividend that beat estimates and said profit had climbed 21 percent. The retailer had increased the dividend by 20 percent to R5.80 a share, the Durban-based company said in a statement... Continue Reading →
Wednesday 27 May 2015 - Veebs Sabharwal In the tenth annual BrandZTM Top 100 Most Valuable Global Brands ranking, released today by WPP and Millward Brown, the most valuable retail brands lack physical stores. Chinese e-tailer Alibaba shot into the top spot of the retail ranking after its IPO, overtaking Amazon and adding its $66.4bn... Continue Reading →
Tesco execs will have to hand back bonuses in future over misstated results Tesco’s outgoing chief executive Philip Clarke will remain in situ until October when Unilever’s Dave Lewis is to take over Tesco’s former chief executive Philip Clarke was paid £1.2m for loss of office News Read More: tesco 25 May 2015 | 0... Continue Reading →
Chris Martin, CEO of Musgrave Group says the grocery market in Great Britain is experiencing fundamental and permanent structural change Chris Martin, CEO of Musgrave Group says the grocery market in Great Britain is experiencing fundamental and permanent structural change News Read More: Chris Martin Musgrave 21 May 2015 | 0 Musgrave has announced that... Continue Reading →
New Look Chairman Mason Quits After £2bn Deal New Look Chairman Mason Quits After £2bn Deal Paul Mason, the retail veteran who chairs New Look, is to step down from his role at the fashion retailer following its £2bn takeover by a South African investment vehicle. Sky News understands that Mr Mason, a former chief... Continue Reading →
Amazon to begin paying corporation tax on UK retail sales The Amazon Fulfilment Centre just outside Peterborough: for 11 years internet transactions involving UK online shoppers have been booked in Luxembourg. Amazon has become the first technology company to abandon controversial corporate structures that divert sales and profits away from UK in the face... Continue Reading →
Staffed stunned at closure of Gorey Dunnes Store Staff at Dunnes Stores in Gorey in Wexford are stunned at the decision to close the store, the union Mandate has said. The union claims more than 100 workers were called to a meeting yesterday evening where it was announced the retailer would close with immediate affect.... Continue Reading →
Costa coffee group Whitbread has hired Alison Brittain, former head of Lloyds Banking Group’s retail division, to replace outgoing chief executive Andy Harrison. Brittain, who is also a non-executive director at M&S, will join Whitbread next January. “We ran an extensive search and selection process and Alison was the standout candidate from a very strong field,” said Whitbread... Continue Reading →
As m-commerce booms, retailers have been honing in on ways to engage with consumers through smart devices, for example via photo sharing app Snapchat. Now Nordstrom, the American retailer, has launched ‘TextStyle’ across all of of its 116 US store, a way for customers to make curated purchases from sales advisors and personal stylists using... Continue Reading →
Sky customer sends company bill for all time spent trying to cancel his contract - and receives £1,500 payout SWNS Pete Swift Tables turned: Pete Swift, with the correspondence he received A Sky customer has landed a £1,500 pay-out after sending them a bill for the time he spent trying to close his account. Pete... Continue Reading →
Tesco Paid New Boss £4m In First Six Months Tesco (Xetra: 852647 - news) has paid new chief executive Dave Lewis £4.1m in the six months since luring him from consumer goods group Unilever (NYSE: UL - news) and tasking him with turning around the firm. Mr Lewis received salary of £570,000, benefits of £97,000,... Continue Reading →
Mothercare halves losses as chief executive Newton-Jones's turnaround plan takes effect Mothercare Mothercare said it halved its losses for the full year as a result of new chief executive Mark Newton-Jones's turnaround plan. The pregnancy and children's product retailer reported a loss of £13.1m ($20.54m, €18.44m), less than half of last year's £26.3m. Newton-Jones joined... Continue Reading →
MR PRICE Group is likely to buck the retail sector gloom when the group’s full-year results are released on Friday. The firm is expecting headline earnings per share of between 902.8c and 933.4c from 765.1c last year. Rising living costs and household indebtedness are weighing on spending with constrained consumers increasingly searching for value. Mr... Continue Reading →
A branch of Next Next was revealed as the latest tax-avoiding multinational yesterday when a tribunal dismissed its “ill-founded” attempt to circumvent more than £32 million in UK tax. The clothing retailer took advantage of complex laws offering tax relief on dividend payments to help it to shelter £106 million in overseas profits, the tax... Continue Reading →
The Cotton On Group looks set to expand to Namibia 19 May 2015 08:47Marketing News Australian retailer The Cotton On Group, continues to be one of the fastest growing fashion retailers globally, expanding its African footprint by opening its first store in Namibia on Friday, 29... Continue Reading →
Ikea to open 29,000 square metre North Lakes store The regular trips south to Springwood will be a thing of the past for many Ikea customers from next year, with a new store to open north of Brisbane. The Swedish retail giant has announced it will build a new 29,000 square metre Ikea store at... Continue Reading →
”Diamond Walk”, the new development within the Sandton City complex in Johannesburg has attracted new luxury store openings by major international brands. Prada, Dolce&Gabbana, Burberry, Giorgio Armani and Louis Vuitton have already opened their stores on the Diamond Walk at Sandton. Future store openings include: Ermenegildo Zegna, Billionaire Italian Couture, Jimmy Choo and Tod’s. Sandton City’s Diamond... Continue Reading →
Krispy Kreme to Expand its Presence to Africa By Opening 31 Shops in South Africa Over the Next Five Years WINSTON-SALEM, N.C.--(BUSINESS WIRE)-- Krispy Kreme (KKD) today announced it has signed a development agreement with KK Doughnuts SA (Pty) Ltd., to open 31 Krispy Kreme shops in South Africa over the next five years. This... Continue Reading →
The chief executive of Thorntonshas resigned after a difficult few months in which the chocolate maker issued a pre-Christmas profit warning and suffered a fall in orders from supermarkets. Jonathan Hart will leave the company at the end of its financial year on 27 June. Barry Bloomer, Thorntons’ chief operating officer, will run the company while... Continue Reading →
The Prada fashion house has opened its first store in South Africa. The brand now occupies an 8,611-square-foot retail space in the new luxury wing of the Sandton City mall in Johannesburg, which is called the Diamond Walk. "The new opening in Johannesburg, one of the most interesting cities in Africa from a cultural and commercial point... Continue Reading →
A South African billionaire has become one of the biggest players on the British high street by taking control of New Look in a deal valuing the fashion retailer at £1.9bn. As Sky News exclusively revealed on Thursday night, Brait, the private equity vehicle of Christo Wiese, said it had reached an agreement with New Look's... Continue Reading →
Beauty retailer Sephora launches 1st online flagship store in China on JD.com Source: Retail in Asia French beauty retailer Sephora on Wednesday launched its first and only Chinese online flagship store on JD.com, China's largest online direct sales company. Sephora's online store will be the largest cosmetics store on JD.com's platform, featuring over 1,200 items... Continue Reading →
Original Sofa Co opens Harrods concession following £110,000 investment Furniture makers the Original Sofa Co have opened a new concession in luxury department store Harrods thanks to a £110,000 investment. The Team Valley-based firm was approached by Harrods on the back of success at its newly opened Sloane Square showroom in London. A second investment from... Continue Reading →
A former market stall trader and his family will bank more than £75m after selling a majority stake in their Poundworld store chain to US private equity firm TPG. The business, which Chris Edwards founded at a Wakefield market in 1974, is valued at £150m under the deal which comes as investors battle for a... Continue Reading →
Revealed: World's biggest hotel to open in Saudi Arabia Abraj Kudai is to become the world's largest hotel located in Makkah, Saudi Arabia and upon completion, will offer 10,000 rooms in 12 separate towers. Designed by Dar Al Handasah, the project has a total built area of 1.4 million metre square and will be set... Continue Reading →
H&M Beauty: the new superbrand with over 700 products High-street fashion store H&M is breaking into beauty with a bang by announcing new skincare, bodycare and haircare ranges, and a 700-piece make-up line BY Katy Young | 13 May 2015 H&M Beauty: the new superbrand with over 700 products H&M Beauty, we've been expecting you. For years... Continue Reading →
Monsoon is to close stores, cut costs and revamp its online operations after profits fell 19% last year. The fashion retailer, which is privately owned by founder Peter Simon and his family, said profits slid to just over £50m in the year to 30 August 2014 after sales slid nearly 8% to £509m. Simon said... Continue Reading →
First phase will see unveiling of new-look Festival Square with 25 new outlets Dubai: The Dubai Festival City Mall is undergoing a Dh1.2 billion transformation that will make further use of its prime Dubai Creek side location and raise the mall’s retail and entertainment offerings. The multiphase expansion, expected to be complete by the second... Continue Reading →
It was a "memorable day" for Marks & Spencer, according to chief executive officer Marc Bolland. After a fifteen year absence, the department store group has return to Belgium with the opening of its newest store on the Guldenvlieslaan street in Brussels. The 5,000 square meter store is part of the previously presented 'Bricks... Continue Reading →
New York -- H&M will open its largest store in the world, in Manhattan’s Herald Center, on May 20. The 63,000-sq.-ft. store, located at the southwest corner of 34th Street where Broadway and Avenue of the Americas converge, will be the fast-fashion giant’s 13th location in Manhattan. To celebrate opening day, music superstar John Legend will... Continue Reading →
Next has been accused of bullying workers into giving up overtime pay for working on a Sunday. The fashion and homewares retailer, which employs more than 52,000 people, wants about 800 shop workers to give up the premium they are currently entitled to, worth up to £20 a week or £1,000 a year. The workers all... Continue Reading →
German Retailer Tchibo Introduces New Shopping Concept to Region With First Branch Opening in Dubai Mall DUBAI, UAE, May 11, 2015/PRNewswire/ -- New Tchibo Shop mixes coffee and non-food items with new stock showcased on a weekly/periodic basis German Retailer Tchibo announced the grand opening of a first-of-its-kind Tchibo Shop & Tchibo Coffee in Dubai Mall.... Continue Reading →
In what is billed as one of the biggest retail unions, India’s two leading retailers – Future Group and Bharti Retail – announced a merger earlier this week.Future, started by retail pioneer Kishore Biyani, runs hypermarkets under the Big Bazaar brand in addition to stores like Home Town and Foodhall. Privately-held Bharti, owned by billionaire Sunil Mittal... Continue Reading →
Online shopping in South Africa was birthed in 1996, but e-commerce is only forecast to reach 1% of total local retail sales in 2016. This is according to the managing director of research company World Wide Worx, Arthur Goldstuck, who was speaking at an event hosted by digital marketing initiative Heavy Chef in Johannesburg on... Continue Reading →
7 May, 2015 | By Caroline Baldwin Retailers are downbeat about their prospects for the next five years as a hung parliament looms. Ahead of the too-close-to-call election, fewer than half (46%) of retailers thought business confidence would be better during the next parliament. That was indicative of a wary mindset among 200 managers at... Continue Reading →
Angela Ahrendts, Apple's head of retail and online, was paid nearly $83m last year, around $10m more than previously thought. The total, reported by Bloomberg, means the former chief executive of UK fashion retailer Burberry takes home significantly more than her boss, Apple chief executive Tim Cook. He was awarded $9.2m last year. Ms Ahrendts' $82.6m... Continue Reading →
Dubai’s Emirates Group, the parent company of the Dubai International Airport-based airline, today announced its latest financial results, recording a 34 percent rise in annual profit to $1.5 billion, its second most profitable year ever since it was founded 30 years ago. Speaking at Arabian Travel Market this week, the carrier's president Sir Tim... Continue Reading →
"2014 is Chanel’s best year ever ... We have grown well, I would say with a significant growth. We are very satisfied," said Bruno Pavlovski, the number of Chanel’s fashion division. According to market sources, the French fashion house would have registered revenues of 5.6 billion euros for the past fiscal year, well ahead of... Continue Reading →
Tesco is to lose two more non-executive directors, including the head of the retailer’s audit committee, Ken Hanna, in the latest move in the board overhaul that began after last year’s £263m accounting scandal. The long-anticipated exit of Hanna, who became chairman of Tesco’s audit committee in October 2012 and has sat on Tesco’s board since... Continue Reading →
New York -- Himmel + Meringoff and The Swig Company, co-owners of 1460 Broadway, announced that Foot Locker has signed a 15-year lease to occupy the building’s entire 36,000-sq.-ft., four-level retail space which has been designated as 8 Times Square. This flagship location will feature a new three-story, 35-ft. high all glass storefront designed by MdeAS... Continue Reading →
French underwear brand Le Slip Francais opened its flagship store in Hong Kong on Wednesday. Located at the Upper Station Street of Sheung Wan, the new boutique features a variety collection of men's briefs, boxer shorts, socks, T-shirts, slippers, as well as water-proof bags. "Le Slip Francais is more than a brand of underwear. We... Continue Reading →
The first Michael Kors Collection Store in the UK covers a space of 1,800-square-feet at 29 Sloane Street. The new store carries ready-to-wear and accessories from Michael Kors Collection, as well as watches, jewellery, footwear and eyewear. The store will also carry a selection of the brand’s fragrances. The brand’s in-house team designed the store experience to echo the... Continue Reading →
retail news 