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Happy Diwali
Gap to shut all Banana Republic shops in the UK
Clothes retailer to close eight stores after a year and a half of falling sales but says it will keep online service for British customers Sales of the Banana Republic and Gap brands have been falling for some time, with comparable sales at Banana Republic stores down 9% last quarter, its sixth straight quarter of... Continue Reading →
New York’s Upper 5th Avenue is the most expensive retail street in the world
Welcome to 27th edition of Cushman & Wakefield’s global flagship report, Main Streets Across The World. This report tracks over 500 of the top retail streets around the globe, ranking the most expensive in each country by their prime rental value and thus enabling us to analyse the headline trends in retail real estate performance.... Continue Reading →
The most expensive street in the world for retail is…
Thinking about setting up shop between 49th and 60th Streets on Manhattan’s Fifth Avenue? Better be prepared to pay big bucks. The upper part of Fifth Avenue is the most expensive retail street in the world (based on rental value), with rents rising to a whopping $3,500 per square foot in 2015, according to the... Continue Reading →
Sports Direct’s Matt Pearson to leave the business
Sports Direct has announced that its acting chief financial officer, Matt Pearson, is to step down. In a statement, the company said Pearson is leaving the business to join another employer. While Pearson will remain in post until 31 December, the company has appointed Herbert Monteith, a long-standing member of its finance team, as interim... Continue Reading →
WH Smith grows full year profits by 8%
WH Smith has increased its full year pre-tax profit by 8% to £131 million following a strong performance from its travel business. In the year 31 August, group like-for-like sales edged up 1% with total group sales rising by 3% to £1.212 billion. The group’s travel business, which includes stores at airports and train stations,... Continue Reading →
Apple Previews Redesigned Flagship Regent Street Store in London
Apple today invited journalists to London, England to preview its redesigned Regent Street store, set to open this weekend. Dozens of images have been shared on Twitter and other websites, providing us our first glimpse at the revamped location that's been under construction for more than a year. Apple Regent Street now features Apple's next-generation... Continue Reading →
Apple Employees at Carindale Store in Australia Fired in Photo Scandal
Several employees at the Carindale Apple Store in Brisbane, Australia were today fired for stealing personal photos from customers and taking pictures of customers and female staff as part of a lewd rating game, according to Australian news site The Courier Mail. The behavior was discovered by at the Carindale Apple Store after an employee... Continue Reading →
Notonthehighstreet.com has ceased trading in Germany
Notonthehighstreet.com to focus on 'core' UK business The online marketplace’s chief financial officer David Phillips, who joined the retailer in July, said the business had shut down its Germany operation in August last year, a year after launching its ecommerce website in the country. Phillips told Retail Week: “We learnt a lot [from the German... Continue Reading →
The Times/Sowetan Shopper Survey awards Shoprite as SA’s top retailer
The ninth annual The Times/Sowetan Shopper Survey recently announced Shoprite as the overall winner of the Shopper Grand Prix Award, with Pick n Pay and Clicks in second and third place respectively, for the third year running. The survey, conducted by TNS on behalf of Times Media, measures customer sentiment across 19 retail categories. “While... Continue Reading →
Starbucks to launch delivery service in China
Starbucks China plans to complete the establishment of its coffee delivery service within the 2017 financial year so consumers will be able to enjoy delivered Starbucks coffee within 20 minutes of an order placement. Starbucks may authorise its delivery service to Baidu Takeaway, the food ordering site affiliated with China’s main search engine. However, no... Continue Reading →
Oxford Street announces first ever charity partnership for Christmas lights switch-on
Oxford Street announces first ever charity partnership for Christmas lights switch-on For the first time in Oxford Street's history, the London shopping district is partnering with a charity on its world famous Christmas lights display. New West End Company has announced that children’s charity NSPCC is to become the official partner of the 57th Christmas... Continue Reading →
Africa’s first mega mall in Menlyn Park
Johannesburg - The R2.5 billion invested in the expansion of the Menlyn Park Shopping Mall by majority owner Pareto is expected to result in a further R5bn being invested in shop fittings and other activities, as well as thousands of new permanent job opportunities. Marius Muller, the chief executive Pareto Asset Management, said the rule... Continue Reading →
Saudisation forces closure of 800 mobile phone shops
A reported 800 telecoms shops in Saudi Arabia have closed since new rules came into force requiring 100 percent of staff to be Saudi nationals. Under a ramped-up Saudisation policy from the government, all stores selling mobile communications devices had to ensure that at least 50 percent of employees were Saudi citizens from June 6;... Continue Reading →
SPAR International expands into Albania
SPAR has opened its first food stores in Albania through a partnership with Balfin Group. The two hypermarkets in Tirana East Gate and in the QTU shopping centre span 7,200 and 3,800 square metres respectively. Balfin Group is the largest private company operating in Albania. The company entered into food retail in 2005 with the... Continue Reading →
” Hamleys” opens in China
Heritage British toy brand and retailer Hamleys has opened a new flagship store in China. Situated in Xinjiekou Sanpower Plaza in Nianjing, the store - dubbed "super Hamleys" - opened last weekend on National Chinese Day (October 1) and spans four floors and 7000sq m. Its famous range of teddy bears will be stocked alongside... Continue Reading →
Jack Wolfskin debuts at Liverpool ONE
Jack Wolfskin, the German outdoor clothing and equipment brand, has opened a new store on Liverpool ONE's Paradise Street. The 3,000 square foot space stocks the full range of Jack Wolfskin clothing and accessories for men, women and children. The opening of the store coincides with the launch of a new brand campaign by Jack... Continue Reading →
Mothercare launches new brand proposition
Mothercare has launched a new brand proposition called 'Welcome to the Club' as it looks to build a business with a community at its heart. The retailer said ‘Welcome to the Club’ underpins the Mothercare brand proposition which aims to connect new parents and build supportive networks for them. These include in-store new mother meet-ups,... Continue Reading →
Next to open one of its biggest ever stores
Next is to open one of its biggest ever stores on the site of the former BHS at Gateshead's Intu Metrocentre. Intu is planning to reconfigure 85,000 square feet of space for Next’s latest store which will double the fashion chain’s existing floor area when it opens in early 2018. It will encompass space used... Continue Reading →
Saudi retailer Jarir reports flat Q3 net profit
Jarir Marketing, one of Saudi Arabia's largest retailers by market value, posted flat third-quarter net profit on Thursday, and noted a drop in its non-operating expenses. It made a net profit of 220 million riyals ($58.7 million) in the three months to Sept. 30, from 218.5 million riyals in the same period a year earlier,... Continue Reading →
McDonald’s to sell Singapore, Malaysian franchise to Saudi group
McDonald's is set to agree a deal to sell 20-year franchise rights for its Singapore and Malaysia outlets to Saudi Arabia's Reza group for up to $400 million, as part of a re-jig of its Asian business, people familiar with the matter said. Reza Food Services Co. Ltd, which owns and operates McDonald's restaurants in... Continue Reading →
Dublin Retail Q3 2016 update ( Lisney)
Download report here
H&M has opened its first store in New Zealand.
With locals queuing from 5pm the night before the opening day, the 2,300 square metre store in Auckland houses a selection of fashion and accessories for men, women, youth and kids. The hype outside the store began at 7am when H&M gave coffee, juice, crumpets and exclusive gift bags to those who were first in... Continue Reading →
Apple’s Flagship Regent Street Location in U.K. Reopens October 15
Apple has announced that its flagship Regent Street retail location in London, England reopens Saturday, October 15 at 10:00 a.m. local time, following over one year of major renovations. Apple contracted award-winning architecture firm Foster and Partners to design the layout of the new store, which initially remained open for business at the basement level... Continue Reading →
Argos will open in branches of Sainsbury’s
Soon you will be able to pick up a new microwave, clothes rail and Elizbabeth Duke set of earrings while you do the weekly shop, as the retailer is continuing its push to open in branches of Sainsbury’s. It’s because J Sainsbury Plc bought Home Retail Group, which owned Argos, earlier this year. The big... Continue Reading →
Clarks hires Mike Shearwood as chief executive
Footwear retailer Clarks has appointed of Mike Shearwood as its new chief executive as it embarks on its next phase of development and growth. Shearwood was previously chief executive of Karen Millen, the international fashion brand, and Aurora Fashions, the owner of Oasis, Coast and Warehouse, where he was at the helm between 2009 and... Continue Reading →
Victoria’s Secret opens new Cardiff store
Victoria's Secret has opened a 10,000 square foot flagship store on the upper level of St David's shopping centre's Grand Arcade. The brand has taken the majority of a store formerly occupied by H&M, which has moved to a bigger store across Grand Arcade. Michael Kors took the remainder of the former H&M earlier this... Continue Reading →
Sainsbury’s hires former Boots UK MD as retail and operations director
Sainsbury's has named former Boots UK managing director Simon Roberts as its retail and operations director. He will join the supermarket by July 2017. Roberts was most recently executive vice president of Walgreens Boots Alliance and president of Boots in the UK & Ireland. Prior to that, he was managing director of Boots UK, where... Continue Reading →
Zara owner Ortega buys $550 million Madrid skyscraper
Amancio Ortega, Europe's richest man and founder of global fashion group and Zara owner Inditex (ITX.MC), has bought one of Madrid's most famous skyscrapers for 490 million euros ($551 million) through his property investment arm, a source said. The purchase marks another step in the famously-reclusive billionaire' s strategy to build a property empire through... Continue Reading →
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