Mr Price earnings up due to successful retail formula JOHANNESBURG (Reuters) – South Africa’s Mr Price Group Ltd posted a 12 percent drop in full-year earnings, the first drop in annual profit since 2001, as consumers struggle in a sluggish economy. The no-frills retailer, which also sells homeware and furniture, is facing increased competition from... Continue Reading →
Retail cannibalisation is becoming a significant feature in the domestic market and it is for this reason that Edcon is shutting down stores where it can, says CEO Bernie Brookes. Edcon shuts stores in bid to save salesRetail cannibalisation occurs when a company's new stores steal customers from existing stores. This can reduce overall sales... Continue Reading →
Amazon has officially begun operating its AmazonFresh Pickup locations in Seattle, letting customers order groceries ahead of time and then quickly grab them on their way home. The service requires as little as 15 minutes advance notice, without any minimum purchase requirements, and it’s a free service for any Amazon Prime members. Amazon first revealed... Continue Reading →
Look inside Apple’s latest retail store shows stunning staircase, Apple Park paintings, boardroom Two days ahead of the opening of the first Apple Store in Singapore, the company has provided a press preview of the interior. One notably missing feature is the glass staircase which has traditionally been a signature design element of Apple’s retail... Continue Reading →
Since her appointment to the M&S board in 2012, Curtis has served on the remuneration, audit and nomination committees. Robert Swannell, chairman of M&S, said: "We are delighted that Miranda will be with us until the end of her second term in February 2018. I would like to take this opportunity to thank her for... Continue Reading →
E-Mart said on March 19 that the Korean first store of Drugstore Boots opened in Starfield, Hanam. It was only 10 months since the signing of a partnership agreement between E-Mart and the Wall Green Boots Alliance (WBA) in July last year. The Boots store is located on the first floor of Starfield with the... Continue Reading →
Continuing its global expansion, Canadian winter clothing specialist Canada Goose Holdings has announced it will open two flagship stores this autumn, in London and Chicago. The company has also announced the expansion of its e-commerce channel to seven new markets including Germany, Sweden, Netherlands, Ireland, Belgium, Luxembourg and Austria. Marking the company’s first location in... Continue Reading →
Footwear and apparel retailer Geox has unveiled its newest store concept in Milan, Italy which aims to bring together technology, design, sustainability, and well-being. Known as the 'X Store' concept, the new design preserves and enhances existing architectural features in the building, such as glass windows, columns, ceilings and exposed brickwork and works them seamlessly... Continue Reading →
COACH left Russia in 2011, where it was only distributed via multibrand stores, is returning to the country with a new partnership. Coach has just signed an exclusive agreement with BNS Group, a distributor in the region for labels including Calvin Klein, Michael Kors and Topshop. The agreement has a duration of five years, with... Continue Reading →
Mothercare used to have almost 400 stores, but will now have about 80 to 100. Photograph: Rex Mothercare is to almost halve the size of its UK chain and stop selling clothes for older children as it tries to carve out a profitable future on the high street. Mark Newton-Jones, Mothercare chief executive, said it... Continue Reading →
Lidl is opening its first stores in June, ahead of the original 2018 schedule German grocer Lidl said Wednesday that it’s going to open its first U.S. stores on June 15. The company will open 20 stores this summer in Virginia, North Carolina and South Carolina. By next summer, it plans to have up to... Continue Reading →
Dubai retailers are gearing up for a three-day ‘Super Sale’ in the emirate starting Thursday May 18. More than 750 retailers across the emirate – more than 250 brands – will slash prices, knocking between 30 percent and 90 percent off products. Some of the brands offering discounts include Guess, Steve Madden, Kurt Geiger, Roberto... Continue Reading →
Apple is planning a new Apple Store in Mexico as it continues to expand its presence around the globe. The new retail location will be located in the city of San Luis Potosi and construction is currently ongoing… Specifically, the Apple Store will be located in a new section of the El Dorado Mall. While... Continue Reading →
It was back in January that we first heard that Apple was planning a new flagship retail store in Milan, Italy, with an outdoor amphitheater – and the company has now confirmed those plans. It will be a square full of ideas. We are incredibly happy to be in the center of Milan, a town... Continue Reading →
The London store in Regent Street will be the first Canada Goose shop in Europe. The Chicago store will be situated on Magnificent Mile on Michigan Avenue. Dani Reiss, president and chief executive of Canada Goose, said: “Opening our first European store is not only a milestone for Canada Goose, but it’s turning a dream... Continue Reading →
Due to take up his position on 31 July, Williamson will join House of Fraser from the Goodwood sporting estate. Having originally started at Goodwood in 2008 as chief financial officer, he was promoted to group managing director and in 2012 took up the position of chief executive. Prior to this, he was head of... Continue Reading →
Situated on the Upper Rose Gallery adjacent to Topshop, the 889 square foot shop recreates the look and feel of the legendary Smashbox Photo Studios in Los Angeles. Anuschka Kuhnel, brand manager at Smashbox Cosmetics, said: “The new Bluewater standalone store is an exciting step for the Smashbox Cosmetics brand, further marking our move of... Continue Reading →
Dubai Ruler Sheikh Mohammed has announced the launch of Marsa Al Arab, Dubai Holding's latest tourist destination development in the emirate. The $1.7 billion (AED 6.3bn) mega-project, spread across 4 million sq. ft, will be developed on new two islands on both sides of Burj Al Arab Jumeirah. Marsa (Arabic for marina) Al Arab is... Continue Reading →
The new store in Bogota at Centro Commercial La Colina has been highly anticipated with 3,000 locals queuing from 2pm two days before the opening to get the first glimpse of one of the world’s largest H&M stores and its fashion collection The 6,000 square metre shop over two levels houses a selection of fashion... Continue Reading →
To celebrate the anniversary of brothers Thomas and Stuart Musgrave launching the business just over 140 years ago, Musgrave has unveiled a new brand identity. The company has revealed a new logo – a modified version of the Musgrave chairman in 1902’s signature – which will now rollout across the entire Musgrave business. Commenting on... Continue Reading →
Demise of firm fronted by former bankrupt Dominic Chappell could aid administrators seeking to recover funds owed to creditors Former bankrupt Dominic Chappell’s Retail Acquisitions bought BHS for £1 from billionaire Sir Philip Green in 2015. Retail Acquisitions, the former owner of the collapsed BHS, is on the point of liquidation, potentially helping investigations into... Continue Reading →
Apple’s first retail store in Singapore has been partially unveiled, providing the first official confirmation of the long-rumored Orchard Road location. It was back in 2015 that Apple confirmed that it was opening a store on the island. At that point, the location wasn’t known, though there were strong signs pointing to the location on... Continue Reading →
The new 8,258 square foot shop will be situated on East Walk and will stock the brand’s full collections including Victoria’s Secret PINK. Other premium brands at Intu Milton Keynes include Hugo Boss, Apple, Karen Millen and Michael Kors. The shopping centre attracts 35 million customers a year. Nick Round, regional director at Intu, said:... Continue Reading →
Card Factory, which has more than 800 stores in Britain, has targeted opening 50 stores a year over the next three years1 Card Factory, which has more than 800 stores in Britain, has targeted opening 50 stores a year over the next three years UK high street retailer the Card Factory is gearing up for... Continue Reading →
Coach is being seen as the most likely buyer to win up-for-sale British luxury footwear brand Jimmy Choo as the American giant forges ahead with its plan to become a multibrand luxury player. Jimmy Choo was put on the block last month after its majority own JAB Holdings decided to focus on its coffee shop... Continue Reading →
Marks & Spencer is to launch an online grocery shopping service this autumn as it looks to cash in on the success of its food halls. The retailer confirmed that a team of executives was currently drawing up a battle plan ahead of trials this autumn, allowing M&S customers to order food online and have... Continue Reading →
Fashion brand Guess has opened its largest UK store outside London, with a 465 sq m (5,000 sq ft) store in the Liverpool ONE development. The store, designed in-house, is arranged over two floors. It features a clean, white interior, high-tech lighting and contrasting materials, in line with the chain’s recently updated branding and layout... Continue Reading →
Primark’s new store in Birmingham is set to be the budget fashion retailer’s biggest store yet once it opens in December 2018. Spanning 160,000sq ft across four floors, new store is located at the Birmingham Pavilions centre, which Primark is rumoured to have acquired for £60 million in 2014. Its redevelopment plan to create its... Continue Reading →
Morné Wilken, CEO of Attacq, explained that Attacq regards the Mall of Africa as one of its most valuable assets in the Attacq property portfolio. “This mall is the realisation of a very significant vision and a long-term business journey. We identified a gap in the market to develop something extraordinary in the Waterfall area... Continue Reading →
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