Shoppers were out in force on London's Oxford Street as usual, with some stores hiring extra security Online retailer Amazon says it had its biggest sales day in the UK as shoppers rushed to buy bargains on Black Friday. The UK version of the website sold more than 7.4m items while other retailers had problems... Continue Reading →
Sir Philip Green's retail empire confirmed its long-awaited new clothing range with singer Beyonce will launch next spring. Arcadia announced late last year it was teaming up with the g lobal superstar for a 50/50 joint venture, called Parkwood Topshop Athletic - a new fitness and streetwear brand. News of the launch date came as... Continue Reading →
John Lewis bans staff discount online this Black Friday John Lewis has forbidden its staff, otherwise known as partners, from using their discounts on online during the event. Partners at the British high street retailer are usually entitled to 12.5% off electricals and 25% off everything else. However, during the Black Friday and Cyber Monday... Continue Reading →
Michael Kors has opened its largest Japanese flagship store on Chuo Street in Tokyo's Ginza district. The store is the first in the world to carry every category offered by the global luxury retailer. The 724 sq m store reflects the new design concept unveiled last year at the Jing'An Kerry Centre in Shanghai, including... Continue Reading →
Ralph Lauren has recently opened its first Polo Ralph Lauren label flagship store in the Italian capital of Rome. The new store cover 465 m² on two floors at the corner of Via del Corso and Via Frattina. The new store also features the Polo Sport line. The label currently has 15 flagship stores globally,... Continue Reading →
MR PRICE’s shares declined 5.52% to R202.19 after a slowdown in its first-half sales growth failed to live up to its shareholders’ high expectations. A senior analyst said the group had lost its "designer look for cheap" edge as it shifted its merchandise styling. "Two years ago they moved styling mainstream to get more of... Continue Reading →
Truworths said to acquire Office for 260 million pounds this week It seems as if months of ongoing discussions are finally set to come to a head as South African retailer Truworths is to complete its acquisition of British footwear chain Office this week. Truworths, which is listed on the Namibia and Johnannesburg stock exchanges,... Continue Reading →
More than 200 Joburgers camped out overnight for a first taste of the iconic U.S. Krispy Kreme doughnut — still warm and dripping glaze, fresh off the conveyor belt — at today’s opening of the first South African and African store, according to a report in EatOut. Sixteen doughnut flavors will be on sale —... Continue Reading →
The mood inside Yahoo is becoming increasingly grim and contentious, with executives and staff at the company losing faith in CEO Marissa Mayer, according to an in-depth and critical report in Forbes. Yahoo insiders say Mayer's style as a micromanager and the lack of a coherent strategy have prevented the internet company from accomplishing the... Continue Reading →
Lifestyle brand Joules has marked the opening of its landmark 100th store in Dublin. The brand’s 100th store is located on Wicklow Street, in the heart of Dublin. It is Joules’ first city centre store in the Republic of Ireland and will showcase menswear, womenswear and childrenswear across two floors. This is a milestone... Continue Reading →
UAE master developer Nakheel will meet a host of European retailers and investors as it highlights retail projects in Dubai worth over €3.7 billion ($3.9 billion) in construction costs at Mapic, the annual international retail real estate show in Cannes, France. The biggest retail developer in the Middle East with more than 15 million sq... Continue Reading →
Louis Vuitton has recently announced the closure of three China stores, including its first outlet in Gaungzhou. According to sources close to the brand, the luxury retailer is preparing to close several more stores across the country in the coming months. Parent company LVMH said that overall sales in Asia fell by more than... Continue Reading →
Burberry has reported that pre-tax profit rose by 9% to £154.7 million in the first half of its financial year. Adjusted profit before tax was £152.9 million compared to £152.3 million a year ago. However, sales were flat in the six months to 30 September at £1.1 billion.
Sandwich shop chain Subway has opened its first UK store situated in a car dealership. The shop, which launched earlier this month, is housed within the Skipton Ford dealership in North Yorkshire and is owned by Subway franchisees, Mark and Ed Bentley. Catering for the dealership’s customers and staff, the store will also be selling... Continue Reading →
David Cameron has gone to war with store bosses by refusing to cut business rates. High street chiefs have pleaded with the Government to reduce the levy, which rakes in £26billion a year. But the Prime Minister said a review of the current system wouldn’t bring down the total amount raised. He told the CBI... Continue Reading →
Sainsbury's saw its underlying pre-tax profit decline by 17.9% to £308 million in the first half of its financial year. Underlying group sales fell by 2% to £13.6 billion while retail sales edged down 0.1% excluding fuel. Meanwhile, like-for-like sales declined by 1.6%. Sainsbury’s said the grocery market remains challenging and that sales at its... Continue Reading →
Cartier CEO to step down He will be succeeded as CEO by Cyrille Vigneron, currently the president of LVMH Japan. De Quercize's resignation is with immediate effect. Richemont said however that he would remain a group executive, taking over the role of chairman of Richemont France. LVMH and Richemont had agreed that Vigneron would formally... Continue Reading →
Bahrain Shopping Festival Announces 2015 Dates§ 'Shop Bahrain' unveiled as the festival's new brand § The largest event in the Kingdom of Bahrain § 2nd edition of the festival will run from December 24 2015 - January 23 2016 § Festival will feature a line-up of world-class entertainment, events and promotions Manama: The second edition... Continue Reading →
US retailer Target has teamed up with Borderfree to launch an international version of its website, making its products available to UK consumers. US retailer Target has launched an international version of its website, making its products available to UK shoppers for the very first time. The company's international platform also opens up its goods... Continue Reading →
Aeropostale Inc. ARO, +16.66% the mall-based apparel retailer, said it signed two licensing agreements that will launch new stores in Thailand and Egypt. The deal with Robinson Department Store Public Company will open about 40 standalone and store-within-a-store locations in Thailand over the next five years. The first store will open in the Robinson Department... Continue Reading →
Amazon will open the doors of its first ever physical book shop in time for Black Friday, the company has confirmed. The e-tailer giant has selected between 5,000 and 6,000 titles for Amazon Books based on ratings from customers and pre-orders on its website, which will be sold at the same price. The shop is... Continue Reading →
Egyptian billionaire Nassef Sawiris has raised his stake in Adidas to 6 percent, making him the biggest shareholder in the German sportswear retailer. A statement from the Stuttgart bourse said one of Sawiris’ investment vehicles, NNS Holding, now owns 4.3 percent in Adidas, while Sawiris himself holds a direct 1.7 percent stake, according to reports... Continue Reading →
Primark owner Associated British Foods has reported that sales at the fashion chain were 13% ahead of last year at constant currency mainly driven by an increase in retail selling space of 9%. In the 52 weeks to 12 September, like-for-like sales were 1% ahead year-on-year reflecting a strong performance across a number of countries.... Continue Reading →
Dublin department store Arnotts has been acquired by the Selfridges Group, the high-end UK retailer owned by successful Canadian businessman Galen Weston and his Irish wife Hilary. Ireland’s largest department store was purchased by Selfridges earlier today for an undisclosed sum from Fitzwilliam Finance Partners, a corporate vehicle set up by Irish lawyer and developer... Continue Reading →
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