Starbucks is closing its two remaining Evolution Fresh juice stores. Seattle Met first reported that the two Seattle-located stores will close this spring — a move that officially removes the coffee-chain from the fresh juice bar market, notes Consumerist. However, the company is still slated to sell the juices at its coffee storefronts. Starbucks (sbux,... Continue Reading →
AO CEO and founder, John Roberts, will be replaced by COO, Steve Caunce. AO World has announced its CEO and founder, John Roberts, is stepping down after nearly 17 years. Roberts created the online electricals retailer in 2000 and will now move to a new executive role. Effective immediately, COO, Steve Caunce, will step up... Continue Reading →
Apple reportedly set to open first Argentina retail store next year in Buenos Aires According to a new report from Gizmodo, Apple plans to continue its slow Latin America expansion with a new store in Argentina. The store comes following Apple’s first Latin American store in Brazil 3 years ago, which was followed by a... Continue Reading →
Apple has officially announced that its new $5 billion (£4 billion) campus will be open to employees from April. The Silicon Valley tech giant said that it will take over six months to move more than 12,000 staff to the new campus, which is set on a 175-acre site. The ring-shaped facility, which Apple is... Continue Reading →
Fashion sales rose by 1.4% as trade in the category was boosted by the popularity of the retailer’s own brand range Modern Rarity. In addition, sales of beauty, wellbeing and leisure products were up 11.2% as customers bought gifts for Valentine's Day. Electrical and home technology sales were also up, increasing by 0.4%. Growth was... Continue Reading →
The fall marks an improvement for the Walmart owned company on the previous quarter when like-for-like sales dropped by 5.8%. Walmart president and chief executive Doug McMillon said Asda had faced challenges in the UK market in the past year which it is addressing “with urgency”. Sean Clarke, Asda president and chief executive, said the... Continue Reading →
LONDON, Feb 20 (Reuters) - British fashion retailer Reiss named former Next (Frankfurt: 779551 - news) executive Christos Angelides as its new chief executive on Monday in a move aimed at allowing founder and chairman David Reiss to scale back his responsibilities. Reiss, which is majority owned by private equity firm Warburg Pincus, said the... Continue Reading →
Guess focuses on international markets American clothing brand Guess has decided to venture off into expansion on an international level. Chief executive officer Victor Herrero just confirmed plans to broaden the company’s reach in both Europe and Asia. The company has done well in both North America and South America, expanding in the past couple... Continue Reading →
Amazon to launch own fashion brand, compete with UK high street London - Amazon has firmly set its sights on world domination on all aspects of ecommerce and is thought to be investing in its own fashion label. The company has reported poached senior design and buying experts from Marks & Spencer and Primark, according... Continue Reading →
Woolworths says it is beginning to see some "green shoots" in its Australian operations, with significant changes in store for David Jones and Country Road Group. However, the retailer warned that despite this encouraging trend, trading conditions in that market would remain difficult for the rest of the year. CEO Ian Moir said Country Road... Continue Reading →
To get bigger, The Wendy’s Co. is getting smaller. The Dublin, Ohio-based burger chain wants to add another 1,000 locations by 2020, executives told investors on Thursday. One strategy the company plans to use to encourage that growth is a new, more flexible design that will enable Wendy’s to go into smaller spaces. Traditionally, the... Continue Reading →
Shoprite has scrapped plans to merge its South African businesses with Steinhoff's Shoprite has scrapped plans to merge its South African businesses with Steinhoff's South African retail firms Steinhoff International and Shoprite Holdings announced Monday they had scrapped plans to merge their local assets to form the continent's biggest retailer. The plan announced in December... Continue Reading →
E-City, a leading operator of a chain of world-class multi-brand electronics retail stores across the UAE, has inaugurated its newly renovated store in The Dubai Mall in Dubai, UAE. E-City is the electronics retail arm of Albatha Retail & Home Products Group of Albatha Holding, which is one of the leading private business groups in... Continue Reading →
Apple Store in Sydney, Australia Reopens After Temporary Closure Due to Alleged Bomb Threat The Apple retail store located on George Street in Sydney, Australia was closed for a brief period of time today due to "a police operation," although the exact reasoning behind the closure remains unclear. Some customers evacuated from the store tweeted... Continue Reading →
Italian womenswear brand Stefanel is looking to open up to 15 franchise stores across the UK and Ireland. Love Brands, the brand’s distributor in the UK and Ireland, has teamed up with franchise consultant Peter Danby to recruit potential franchisees. They will work alongside John Lane from London-based retail property advisors Tienda to select locations.... Continue Reading →
Retailers, restaurants and hotels among a record 360 firms named for shortchanging staff by almost £1m Sarah Butler and Robert Booth Wednesday 15 February 2017 19.48 GMT Debenhams was accused of failing to pay almost £135,000 to just under 12,000 workers. Debenhams was accused of failing to pay almost £135,000 to just under 12,000 workers.... Continue Reading →
Private equity firm 3i invites bids for company, which has been hit by lacklustre sales and accounting issues The Agent Provocateur store in London’s Soho. The Agent Provocateur store in London’s Soho. It is thought five bidders have tabled bids for the brand. Photograph: Graeme Robertson for the Guardian Lingerie brand Agent Provocateur could be... Continue Reading →
Data: Top 50 retailers by sales during 2015/16 financial year The top 50 retailers by sales during the 2015/16 financial year Within the top 10, Aldi has solidified its position and climbed into ninth place. The discounter’s continued strong growth means it is expected to overtake both the Co-op and Boots in the next edition... Continue Reading →
Laura Ashley suffered a 29 per cent drop in pre-tax profits in the final six months of 2016, amid falling sales and rising costs. The homeware and fashion chain warned it expects its full-year profits to come in below estimates, prompting the group's shares to fall by 11 per cent this morning. In the last... Continue Reading →
Apple Tops 'World's Most Admired Companies' List for Tenth Year in a Row Apple has been awarded the number one spot on Fortune's annual list of the "World's Most Admired Companies." The 2017 list marks Apple's tenth consecutive win as the most admired company in the world according to Fortune, which collected the data from... Continue Reading →
Ralph Lauren names new executives to new positions , 2 weeks after CEO steps down Ralph Lauren Corp. RL, -0.77% named on Thursday Jonathan Bottomley to the newly created position of chief marketing officer, effective April 3. The fashion apparel and accessories company said Bottomley, who was most recently Chief Strategy Officer at Vice Media,... Continue Reading →
Coyote fur-trimmed hoods have become near synonymous with Canada Goose, the down-filled parka brand that has taken the world by storm. From the streets of Amsterdam to New York to the characters of the new Fortitude series, everyone living in arctic climates appears to be clad in Canada Goose. Its international success is the key... Continue Reading →
Waitrose has been named the UK's top supermarket in a new Which? Magazine survey of more than 7,000 shoppers. Shoppers were asked to rate stores based on drivers such as store appearance, ease of finding products and overall quality of fresh products. When it came to the online ranking, shoppers were asked about relevance of... Continue Reading →
Online retail giant Amazon will see its business levy slashed at most of its warehouses across the UK in the next financial, as nearly half a million other businesses across the country will be slapped with an increase in rates. The first overhaul of business rates, which take effect in April and represent the first... Continue Reading →
Barton, who is 72, joined the Next board in 2002 and took up the chairmanship in 2006. In a statement, Next said that he had made "an outstanding contribution" to the company over the last fifteen 15 years. Following a search for a successor, Roney has been appointed as an independent non-executive director, deputy chairman... Continue Reading →
Michael Kors has recently opened its first store in South Africa, in Cape Town at V&A Waterfront Mall. The 2,497-square-foot boutique was designed by the brand’s in-house team and features a neutral color palette for a luxurious ambience. The boutique is designed to reflect the label’s sophisticated, jet set aesthetic. Michael Kors Cape Town carries... Continue Reading →
Tesco accused of overcharging customers Tesco is to check the prices of all items in every store after an investigation found customers were being short-changed on promotions. An undercover reporter for BBC Inside Out was overcharged on multi-buy offers at two-thirds of stores visited. The reporter was charged more than expected in 33 out of... Continue Reading →
The trading update is largely upbeat, but investor enthusiasm for the JSE’s retail sector has been tempered Shares in recently listed healthcare retailer Dis-Chem fell 3.7% on Friday after the release of a trading update for the 22 weeks to end January. The trading update was largely upbeat, but investor enthusiasm for the JSE’s retail... Continue Reading →
Zara China has shuttered its giant three-story, 3000 sqm Chengdu flagship store in what a retail commentator describes a “fine-tuning” of its retail network. The store, at Lesen Shopping Center, No.31, Zongfu Road, was previously occupied by luxury brands Louis Vuitton and Dior. It opened at the end of 2011 as Zara China’s single largest... Continue Reading →
Founded by Adele and Edoardo Fendi in 1925, the eponymous Rome-based fashion House has gained a new space in Dubai. A playful, bright and stylish new Fendi Kids flagship store has launched on the second floor of The Dubai Mall next to Dolce & Gabbana Kids shop. The new venue has opened its doors to... Continue Reading →
Cosmetics company says it is exploring all options but has not made any decision on future of Sussex-based ethical retailer Sluggish sales in Saudia Arabia and Hong Kong have affected The Body Shop’s overall performance. Photograph: Martin Argles for the Guardian L’Oréal has confirmed it is exploring a potential sale of The Body Shop as... Continue Reading →
Saudi-nased Alhokair franchises brands such as Zara and Marks and Spencer in the kingdom. Saudi-nased Alhokair franchises brands such as Zara and Marks and Spencer in the kingdom. The board of Egypt's Medinet Nasr for Housing and Development (MNHD) has approved an offer from a unit of Saudi Arabian retailer Fawaz Abdulaziz Alhokair to build... Continue Reading →
The newly appointed chairman of Edcon said the retailer was too important to fail and would be turned around. Gareth Penny, who took up the position on Wednesday, said he was "confident we can continue to make progress in recreating a world-class retailer". New boss vows to overhaul EdconPenny, the former group CEO of De... Continue Reading →
Fox, who joined Halfords from Walmart’s Canada unit, has been at the cycling and car parts retailer for three and a half years and is regarded by some as being instrumental in helping drive its turnaround. Fox, who also spent a decade in various roles at Asda, will not be directly replaced and her duties... Continue Reading →
Aldi market share hits 6.2%, usurping the Co-op for the first time The discounter’s sales rise 12.4% in the 12 weeks to January 29 Morrisons takes title of fastest-growing big four grocer as sales advance 1.9% Embattled Asda stems rate of revenue decline to 1.9% during the period Aldi grew sales 12.4% in the 12... Continue Reading →
The Co-operative Bank is looking to offload a portfolio of loans Co-op retail chief Steve Murrells will replace Richard Pennycook as CEO The executive who helped revive the Co-operative Group, Britain's biggest mutual, in the wake of the biggest crisis in its history is to step down later this year. The Co-op rushed out a... Continue Reading →
Department store chain House of Fraser has confirmed plans to open an anchor store at the new Chester Northgate retail complex. The 500,000sq ft development project, which is spearheaded by Cheshire West and Chester Council, will see House of Fraser take on a 100,000sq ft unit of retail space over three floors. Construction of the... Continue Reading →
Could rumoured merger create an online giant and usher in a new era of grocery? Could rumoured merger create an online giant and usher in a new era of grocery? The passing of UK supermarket pioneer Ken Morrison this week has sparked new rumours of a merger between Sainsbury’s and Morrison’s which, if it comes... Continue Reading →
Mike Ashley’s discount retailer gains stake in future of ailing fashion chain, which is under pressure over governance Sarah Butler A French Connection store in London French Connection is under pressure to make acquisitions to meet its growth targets. Photograph: Hannah McKay/Reuters Mike Ashley’s Sports Direct has taken control of an 11% stake in French... Continue Reading →
Hennes & Mauritz says it has an aggressive expansion strategy in place to expand on strong sales in SA While Hennes & Mauritz (H&M) may have delivered an impressive full-year performance in SA amid a constrained consumer environment, the Swedish company’s group results show that global retail is struggling as much as the local sector.... Continue Reading →
H&M stores have been spreading across the world like a fast-growing mold. For at least a decade, the fast-fashion retailer has increased stores by 10% to 15% annually, sometimes squeezing them in at a preposterous density: In New York in 2015, the chain opened a 63,000-square-foot behemoth that was literally across the street from another... Continue Reading →
Sir Ken Morrison, the founder of supermarket chain Morrisons, who was instrumental in growing the company into one of Britain’s leading retailers, has died at the age of 85. The Press Association cited a short statement from Sir Ken’s family, according to which he passed away at his home in North Yorkshire, following a short... Continue Reading →
In the six months to 27 November, retail revenue was up 15.8% as ecommerce sales rose by 30.3% and store sales grew by 11.2%. The company also saw an uplift in wholesale revenue which climbed by 17.1%. International revenue increased by 39.3% and now represents 10.6% of group revenue. Meanwhile, underlying pre-tax profit rose by... Continue Reading →
H&M posts 7 percent rise in FY16 sales, plans foray into five new markets For the full-year as well as fourth quarter ending November 30, 2016 H&M group’s sales including VAT increased by 7 percent in local currencies. The company has said in a statement that it aims to achieve a sales growth target of... Continue Reading →
Despite a tough local market, Shoprite has edged its rivals and its rest of Africa play is going swimmingly It has been 27 years since Shoprite, then and until recently led by Whitey Basson, took its first tentative steps beyond SA’s borders. The move was greeted by widespread market criticism. Shoprite has, mostly, proven that... Continue Reading →
Emaar Malls reports strong growth in 2016 Emaar Malls reported a growth in fourth-quarter (October to December 2016) net profit by four per cent to AED 452 million ($123 million), compared to the Q4 2015 net profit of AED 435 million ($118 million). Emaar Malls (DFM: EMAARMALLS), the shopping malls and retail business majority-owned by... Continue Reading →
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