Ministers are facing legal action from the Keep Sunday Special Group, in order to stop them from going ahead with plans to extend Sunday trading hours. The Government has been issued with a “letter before action” group, which outlines plans for a judicial review on the proposals to allow councils to increase selling time on... Continue Reading →
Abercrombie & Fitch is now ranked as the most hated retailer in America The clothing company scored a 65 on the American Customer Satisfaction Index for the retail industry for the first time ever Just ahead of Abercrombie on the list is Walmart with a score of 66 The report by ACSI is based on... Continue Reading →
Home Retail Group has received a £1.4bn rival bid for Argos after supermarket Sainsbury's offered £1.3bn for the company. The second takeover offer has come from South African retailer Steinhoff, which offered 175p per share. Sainsbury's has until 23 February to make a firm offer for Argos. Home Retail Group said the board was reviewing... Continue Reading →
“We chose this West Street location for its high volumes of foot traffic and for its positioning as a transport hub and gateway to one of Africa’s biggest economies,” said Krispy Kreme's CEO, Gerry Thomas. “An international brand as recognisable as Krispy Kreme is what people expect to see when visiting a metropolis such as... Continue Reading →
REPORTThe H&M group’s sales including VAT increased by 7 percent in local currencies in January 2016 compared to the same month last year. The company said that in January there was a negative calendar effect of approximately 2 percentage points because the month had one more Sunday than in January 2015. The total number of... Continue Reading →
Retail is an enormous and profitable industry. Global sales were projected to top $24 trillion in 2015 and are expected to grow another 3.2% this year, making the magnates who run the sector's largest companies even wealthier. We recently released our list of the 50 richest people on earth based on data from Wealth-X, which... Continue Reading →
New Look has posted a rise in third quarter sales and profits despite the highly ”promotional environment”. The fast-fashion chain said pre-tax profits grew 38.9% to £87.9m during the nine months to December 26. New Look's own-brand online sales rose 3.4.7% during the period while earnings from external players increased 32.7% online. Over the festive... Continue Reading →
Hunter has announced the appointment of Vincent Wauters as Chief Executive Officer, effective 1 March 2016. Wauters joins the outdoor clothing retailer from Arc’teryx, where he was President of the outdoor and lifestyle brand, headquartered in Vancouver. He was a member of the Executive Board of Amer Sports Corporation, in charge of the apparel... Continue Reading →
Finery, the online fashion retailer of womenswear, shoes and accessories, has decided to have an offline presence. It is set to open physical outlets in six flagship stores of John Lewis. The move follows the company clocking £5m (€6.5m, $7.3m) in its first year of sales. Nickyl Raithatha, cofounder at the company, said: "We are... Continue Reading →
LONG ROAD: At a results presentation on Wednesday, recently appointed Edcon CE Bernie Brookes outlines changes the heavily geared apparel retailer is making to bring customers back and streamline operations. Picture: MARTIN RHODES LONG ROAD: At a results presentation on Wednesday, recently appointed Edcon CE Bernie Brookes outlines changes the heavily geared apparel retailer is... Continue Reading →
Apple appears close to getting the regulatory green light to open its first retail stores in India. The company is expected to win approval from the Indian government to launch the stores, the Bloomberg news service reported Sunday, citing "a person with knowledge of the matter." Apple did not immediately respond to a request for... Continue Reading →
AS A stock analyst with nearly two decades’ experience, Sasfin Bank’s Alec Abraham has seen a number of high-flying companies crash back to earth. In recent months, he became concerned about what he saw as an alarming shift in focus from the one-time darling of the clothing retail sector, Mr Price. “For years, Mr Price’s... Continue Reading →
British retailer The Co-operative Food has purchased 15 Budgens convenience stores, mostly located in in London and the South East, from Booker for an undisclosed amount. The Manchester Evening News further reported that the acquisition is part of the company’s strategy to establish its dominance in the growing convenience store market in the United Kingdom.... Continue Reading →
MPs Sadiq Khan and Zac Goldsmith have committed to the pedestrianisation of Oxford Street in an attempt to reduce pollution and congestion. During the Evening Standard’s mayoral hustings on this week, Khan responded to a question from the New West End Company with: “From Marble Arch to Tottenham Road, you could have squares and boulevards... Continue Reading →
Cotton On Instagram/Cotton On Cotton On Group might be the next big thing in America. The Australian retail company is wildly successful and just reported its first $1 billion year in revenue. The 25-year-old apparel company has well over 1,400 stores in 17 countries, and now it has plans to continue its rapid expansion in... Continue Reading →
British stores will be open for longer now that ministers are to go ahead with allowing councils in England and Wales to relax Sunday trading laws. Measures that will affect Sunday opening hours will be put forward as amendments to the Enterprise Bill, Business Secretary Sajid Javid announced on Tuesday. Small shops up to 280... Continue Reading →
Sainsbury’s offers Home Retail £1.3bn Following an intense weekend of negotiations, Sainsbury’s and Home Retail have reached an agreement on the financial terms of a takeover deal that values Argos at around £1.3bn. The base offer indicates a £1.1bn valuation for the retailer, but Sainsbury's is adding payments on top to compensate Home Retail investors... Continue Reading →
John Lewis is to set foot in the UAE, strengthening the British department store retailer’s presence overseas, particularly in the Asian and Middle Eastern markets. According to The Times, John Lewis will open a ‘shop-in-shop’ in the Robinson department store in the Dubai Festival City Mall come spring next year. News of the move comes... Continue Reading →
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