South Africa’s Mr Price posts first annual profit drop in 16 years

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 →

Edcon shuts stores in bid to save sales

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 →

Boots to launch in Korea

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 →

Canada Goose to open two international flagships

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 →

Geox unveils new store concept ‘X Store’

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 to re-enter the Russian market

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 →

Dubai prepares for three-day shopping bonanza

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 →

House of Fraser names new chief executive

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 →

H&M expands into Colombia

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 →

Musgrave unveils new brand identity

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 →

Victoria’s Secret to debut at Milton Keynes

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 →

UK card chain to expand into Ireland

 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 could buy Jimmy Choo

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 →

Mall of Africa celebrates 1st birthday

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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