10 Biggest Retail News of 2016
The world is a very different place after the rollercoaster ride that was 2016, the retail sector is certainly no different. Here are the top 10 stories that made waves in the retail sector this year — as picked by Retail Gazette's journalist Ben Stevens and editor Elias Jahshan. The stories selected, listed in no... Continue Reading →
Zoom opens its largest standalone store in Dubai
ENOC Retail, Emirates National Oil Company’s retail business segment, announced the opening of the largest ZOOM standalone store spread over an area of 6,731 sq ft. The eco-friendly store is not only aligned with the sustainable objectives of the Dubai Plan 2021 but also with the goals of The Sustainable City to reduce the development’s... Continue Reading →
Adidas Originals London flagship gets a makeover
The Adidas Originals flagship store in London has undergone a revamp with a localised twist to make it uniquely relevant to London. StudioXAG designed and implemented two long-term dwell areas within the store, adding authentic elements of familiarity to the store as well as encouraging the local consumer to spend more time in the store.... Continue Reading →
Limited Stores reportedly preparing for bankruptcy
Struggling specialty apparel retailer Limited Stores is preparing to file for bankruptcy in the coming weeks and will most likely liquidate its business, Bloomberg reports. Last month, the retailer hired Guggenheim Partners to explore a sale and said it was entertaining bids, according to The Wall Street Journal. The company has some $100 million in... Continue Reading →
Sir Philip Green could face £1bn BHS fine under MPs’ plan
Committee proposes ‘nuclear deterrent’ to stop companies trying to avoid responsibilities to pension schemes Sir Philip Green ‘would have sorted’ the BHS pension scheme long ago if he had faced a £1bn fine, said Frank Field MP. Sir Philip Green ‘would have sorted’ the BHS pension scheme long ago if he had faced a £1bn... Continue Reading →
House of Fraser opens first standalone store in China
Department store chain House of Fraser has opened its first standalone shop in China as it begins to build its brand in the Asian powerhouse. House of Fraser warned in September over high street conditions in the UK as it revealed "very challenging" trading House of Fraser warned in September over high street conditions in... Continue Reading →
TAG Heuer opens new store in Australia on the Gold Coast
TAG Heuer has opened a new boutique on Australia’s iconic Gold Coast at the newly transformed Pacific Fair Mall. The new store which covers 153 sqm and showcases new retail design concept of the brand – a new look and feel for the iconic luxury brand that was first unveiled in Sydney with the relaunch... Continue Reading →
Hermès opens new store in Hong Kong at Elements
Inaugurated in September 2009, the Hermes store at Elements in Hong Kong has been relocated and renovated now counting a total retail surface of 234 square meters which will further expand to 326 square meters in late 2017. With this renovation, the store benefits from an open and spacious layout to present the richness of... Continue Reading →
Dubai shopping festival to begin on December 26
Discounts on clothes, electronics, watches will go up to 75% Staff Report 15:44 December 17, 2016 Dubai: Starting on December 26, Dubai Shopping Festival will see 34 days of deals, prize draws and shows across the emirate. This year, thousands of retail outlets will offer discounts of up to 75 per cent. The discounts will... Continue Reading →
South Africa’s Steinhoff and Shoprite to form retail giant
South African retail giants Steinhoff International and supermarket group Shoprite Holding Wednesday said they were in talks to merge their African operations to form a single company worth over $14 billion. The companies said in a statement they had initiated talks “regarding the potential combination of their respective African retail businesses” with an objective of... Continue Reading →
FURLA opens new store in London in Knightsbridge
Furla has recently opened a new store in London at 71 Brompton Road. This follows the success of its standalone Regent Street store, and continues to strengthen the brand’s presence in the UK. Located in the heart of the high-end shopping district of Knightsbridge, the new store is set across two floors, occupying 280 sq... Continue Reading →
Marks & Spencer chairman Robert Swannell to retire
Former investment banker, who took on role six years ago, will remain in post until his successor is found Robert Swannell has overseen a tricky period during his time as chair of M&S. Photograph: AFP/Getty Images The chairman of Marks & Spencer is to retire next year after six years in the role. Robert Swannell,... Continue Reading →
Mall of Qatar launches ‘softly’, less than 50% of shops open
Mall of Qatar, Doha's new shopping concept with 500,000 sq m of retail space, officially opened its doors to the public on Saturday, with 220 stores launch on day one of the "soft opening". Officials said the mall is 99 percent leased, with 92 percent currently in the fit-out phase. "We are opening over 220... Continue Reading →
Argos Christmas deliveries face delays after drivers vote to strike
Delivery workers at Staffordshire hub to stage three-day strike next week in dispute over holiday pay The distribution centre is run by logistics firm Wincanton and Argos urged both sides to ‘keep talking’. The distribution centre is run by logistics firm Wincanton and Argos urged both sides to ‘keep talking’. Photograph: Jonathan Brady/PA Argos shoppers... Continue Reading →
M&S defends bumper bonus scheme for bosses
Chief executive's salary could be boosted by £1.8m in 2019 Marks & Spencer has been slammed by unions over a new bonus scheme for its top bosses, which could add millions of pounds to their pay packets. Chief executive Steve Rowe stands to earn a maximum of £1.8m on top of his basic salary in... Continue Reading →
Amazon Go checkout-free stores look set to come to UK
Retailer has registered British trademark for concept, which is opening in the US early next year An Amazon Go store in Seattle, which is currently open only to employees. An Amazon Go store in Seattle, which is currently open only to employees. Amazon appears to be preparing to open checkout-free grocery stores in Britain after... Continue Reading →
Nespresso opens first boutiques in John Lewis
Premium coffee brand Nespresso has opened two new boutiques in John Lewis Kingston and Peter Jones in Sloane Square. Now for the first time, John Lewis customers will be able to taste, purchase and learn more about the Grand Cru coffees at the two new boutiques. These openings represent a pilot for Nespresso with the... Continue Reading →
Amazon Go store lets shoppers pick up goods and walk out
Grocery store in Seattle has no checkouts, with purchases automatically billed to customers’ accounts Amazon has opened a corner store where customers can pick up their groceries and just walk out without having to queue up and pay at the checkout. The company said shoppers at its Amazon Go store will have the cost of... Continue Reading →
Aldi (Ireland)to open 20 new stores in €100m grocery expansion plan
Chain's investment aims to put a store within reach of every shopper and create 400 jobs Discount retailer Aldi plans to invest €100m in Ireland over the next three years as it seeks to increase its footprint. The company aims to add around 20 new stores which will create 400 new jobs. "Our business model... Continue Reading →
Abu Dhabi’s Marina Mall embarks on $810m extension project
Marina Mall Abu Dhabi, owned by the National Investment Company (NIC), has announced that it will be breaking ground in early 2017 on major mall improvements worth AED300 million, in addition to a new AED3 billion extension. Marina Mall Abu Dhabi will be undergoing a renovation and growing in size with a 120,000 sq m... Continue Reading →
Woolworths shareholders rebel
Woolworths’ shareholders latched on to two of the most controversial issues in corporate governance when substantial numbers voted against the reappointment of the auditors and also against the remuneration policy at Wednesday’s annual general meeting. In a move that suggests shareholders are becoming more engaged on the matter, 18.6% of shareholders at the Woolworths AGM... Continue Reading →
The Limited may shutter headquarters, close stores permanently
Limited Stores LLC has notified the Ohio Department of Job and Family Services that it may lay off as many as all 248 employees, including its entire headquarters staff, and close down that Columbus, OH-area office as it struggles with plummeting sales, Columbus Business First reports. The company’s letter to the state suggested that, while... Continue Reading →
Sears is on the brink of catastrophe as store closures loom and top execs flee the company
Things aren't looking good for Sears. The company is shutting down dozens of Kmart stores this month and two of its highest-ranking executives left this week in the midst of the key holiday shopping season. This comes following speculation among Sears and Kmart employees, suppliers, and several banks that the retailer will soon go bankrupt... Continue Reading →
Saudi group completes acquisition of McDonald’s Singapore, Malaysian franchise rights
McDonald's has completed the sale of franchise rights for its restaurants in Singapore and Malaysia to Saudi Arabia's Lionhorn Pte Ltd as part of a plan to move away from direct ownership in Asia. The fast-food chain said it transferred its ownership interest in 390 restaurants, more than 80 percent of which were company-owned, on... Continue Reading →
Starbucks CEO Howard Schultz stepping down; will hand reins to company COO
Howard Schultz is leaving his post as CEO of the company he built into a global coffee empire, but he’s not retiring. Schultz will step down as CEO of Starbucks Corp. on April 3, at which time he will be appointed executive chairman and shift his focus to the company’s new upscale initiatives — the... Continue Reading →
retail news 