After 159 years, ‘Harrods of SA’ shuts shop

JOHANNESBURG - Department store Stuttafords, the 159-year-old “Harrods of South Africa”, is closing down, a victim of a global shift to online retail and a domestic economic slump that has put brands such as Ted Baker and Gap beyond its customers’ reach.Mirroring the fortunes of once-mighty department stores in Europe and the United States, the... Continue Reading →

Jeff Bezos: Amazon founder overtakes Bill Gates to become world’s richest individual – for less than a day

A rally in e-retail behemoth Amazon’s share price on Thursday propelled founder Jeff Bezos to the top of a list of the world’s richest individuals—for less than a day.Mr Bezos, who is also chairman and chief executive of the Seattle-based company, was worth almost $91bn (£70bn) after Amazon’s share price rose more than 1 per cent... Continue Reading →

Boden to open bricks-and-mortar store

The 1,821 square foot shop will offer Boden adult ranges as well as special collections such as Boden Icons and Mini Boden for children.Boden founder and creative director Johnnie Boden said: “I’m so excited to be going into retail. This is a new chapter for Boden. At last our customers will be able to see... Continue Reading →

LVMH’s Louis Vuitton launches e-commerce website in ChinaFrench fashion brand Louis Vuitton, part of luxury giant LVMH , said on July 21st it had launched an e-commerce website in China to tap a booming online shopping market.Louis Vuitton, which opened its first store in Beijing in 1992, said the website offered leather goods, small leather goods, shoes,... Continue Reading →

Subway launches Fresh Forward design concept

Restaurant chain Subway is rolling out the Subway Fresh Forward design, transforming the guest experience. The new store concept is a distinctive and welcoming restaurant space that highlights an amplified guest experience surrounding its fresh ingredients. The bright colour palette is inspired by fresh vegetables.'We’ve created a modern design that gives our guests choices, from... Continue Reading →

More than 63,000 people have signed a petition demanding that Macy’s drop Ivanka Trump’s brand

Ivanka Trump's clothing line is still being sold at Macy's. Macy'sMore than 63,000 people have signed a petition urging Macy's to drop Ivanka Trump's clothing line.The petition, which was set up by women's rights organization UltraViolet, had 30,000 signatures within 24 hours of being posted online last Thursday, the Huffington Post reported.It was launched during President Trump's... Continue Reading →

Michael Kors buys Jimmy Choo for $1.35bn

Michael Kors has successfully reached an agreement that will see it acquire luxury footwear maker Jimmy Choo.The board of directors at both the retailers have approved the deal, which will see Jimmy Choo shareholders receive 230p per share, leading to a total value of $1.35 billion (£1.04 billion).Jimmy Choo, which trades from an estate of... Continue Reading →

B&M shares jump 4% on reports Asda is considering £4.4bn takeover bid

Ben ChapmanMonday 24 July 2017 10:59 BSTShares in discount retailer B&M jumped 4 per cent after reports that Asda is reportedly eyeing up a £4.4bn takeover bid. Asda is understood to be attempting diversification to combat the threat of cut-price rivals, Lidl and Aldi.Walmart-owned Asda, Britain’s third-biggest supermarket chain, has seen sales fall over the last three years amid fierce... Continue Reading →

M&S reports 2.7 percent increase in Q1 sales Marks and Spencer Group (M&S) said that the revenues increased 2.7 percent or 1.8 percent in constant currency, in the 13 weeks to July 1, 2017 to 2,531.5 million pounds (3,259 million dollars). Revenues in the UK were up 2.6 percent to 2,259.2 million pounds (2,910 million... Continue Reading →

H&M to open six more stores in SA

The news follows on the group’s interim results, which showed a 32% rise in sales in rand terms in SA. The rise came at the expense of local retailers such as Mr Price and Edcon. "We see a lot of potential in SA," said H&M South African country manager Pär Darj. Three stores will be... Continue Reading →

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