Inside Retail

AUGUST 28, 2022

Living in a building of historic importance gives one of the world’s pre-eminent luxury department store companies that extra little bit of cache — the trick now is to find ways of being a retailer of future importance, a stiff hurdle upon which so many department store companies are stumbling. Footfall was up 6.4%

Department Stores 130

Department Stores Accessories Jewelry Apparel 130

Inside Retail

SEPTEMBER 1, 2022

Shinsegae — one of the Big 3 of Korean department store retailing along with Lotte and Hyundai — has continued its great form right through into the second half of the year, helped by the removal of the country’s remaining pandemic restrictions and an increasingly buoyant mood among the country’s more affluent consumers.

Department Stores 130

Department Stores Net Profit Fashion Boutique 130

Inside Retail

MAY 22, 2022

First quarter results for calendar year 2022 are in for the three biggest Korean department store retailers, and the numbers are encouraging. Shinsegae, Lotte, and Hyundai account for the top nine department stores in the country (coming in at number 10 is Galleria’s high-end flagship in Seoul). trillion KRW ($2.1

Department Stores 130

Department Stores Apparel Specialty Store Wholesale 130

VMS

JANUARY 2, 2023

More than 20 years after the Ames department store chain closed all of its stores, the retailer is mounting a comeback. The announcement, however, has been met with skepticism on account of Cross Moline Ventures having a minimal online presence in the form of an under-construction website.

Department Stores 89

Department Stores Returns Accounting Location 89

Inside Retail

FEBRUARY 5, 2024

Department store chain Myer expects fiscal first-half sales and net profit to decline year over year amid a challenging trading environment. Online sales account for 21.3 The company forecasts sales to fall 3 per cent to $1.83 billion, despite online sales increasing 2 per cent to $390.1 per cent in comparable sales.

Net Profit 303

Net Profit Department Stores Accounting Promotions 303

365 Retail

JUNE 22, 2021

Unfortunately for many department stores, the pandemic has been a final blow in the battle with online retail, spiralling real estate costs and difficulty serving up physical retail that is consistently experiential, engaging and adaptable. So, what is to become of these extinct department stores?

Department Stores 67

Department Stores Outdoor Accounting Planning 67

Inside Retail

AUGUST 7, 2023

Department store Myer says sales and profit are continuing to grow despite the challenging economic environment, with its online business continuing to strengthen. In a trading update issued today based on unaudited accounts, the company said it expects to report a 12.5 Online sales accounted for 20.5

Department Stores 246

Department Stores Accounting Returns Planning 246

Retail Gazette

APRIL 28, 2024

Accounts filed at Companies House last week show that the businessman lent the department store chain £25.5m, and had committed to pay a further £7m following its year-end last April. Harvey Nichols owner Sir Dickson Poon has committed to lend an additional £32.5m

Department Stores 118

Department Stores Finance Accounting ATS 118

Retail TouchPoints

MARCH 7, 2024

The company’s digital business remains strong, accounting for 36% of sales in fiscal 2023. “Marketplace will allow customers to shop more products and sizes from their favorite brands while providing them more access to new and emerging brands.” over Q4 2022.

Department Stores 234

Department Stores Accounting Planning Shopping 234

Inside Retail

FEBRUARY 8, 2024

million and now account for 21.3 Myer currently operates 56 department stores across Australia, as well as its online business and in-house brands including Sass and Bide, Marcs and David Lawrence. “Our per cent, compared to the first half of the last financial year. The report revealed that online sales were $390.1

Department Stores 264

Department Stores Inventory Management Planning Returns 264

Retail Gazette

APRIL 26, 2024

According to accounts filed on Companies House, pre-tax losses shrunk 29% from £30.4m Sales for the department store chain surged 13% to £216.7m The recent accounts, released by holding company Broad Gain (UK) this week, provided additional insights into the challenging period facing the retailer.

Department Stores 58

Department Stores Accounting 58

Inside Retail

JANUARY 18, 2023

Woolworth Holdings’ sale of the David Jones department-store business has cleared the way for the brands of its Country Road Group division to return to the shelves of Myer. per cent on a comp-stores basis. Flagship and CBD stores performed particularly well and online sales accounted for 17.2

Returns 246

Returns Department Stores Accounting Consumer 246

Inside Retail

JULY 25, 2022

Department store group Myer says its sales will nudge $3 billion for the full year as burgeoning online sales and “positive outcome” across all metrics drove solid growth, despite the loss of trading days to Covid during the second half. Based on unaudited accounts, sales for the year will range between $2.85

Net Profit 246

Net Profit Department Stores Accounting ATS 246

Inside Retail

MAY 3, 2023

billion in stores and online, according to data from the Australian Bureau of Statistics (ABS). per cent, department store sales at 4.7 He noted other categories such as department store sales and clothing, footwear and accessories sales are “softening” as well. “It Retail spending rose 5.4 per cent year-on-year.

Department Stores 246

Department Stores Accessories Accounting Consumer 246

Inside Retail

DECEMBER 29, 2022

Department stores and the foodservice sector drove “unprecedented” Boxing Day sales growth across Australia according to data from the Australian Retailers Association and Westpac DataX. per cent on 2021, with department-store sales of $149 million up by 23.6 billion – 8.6 On Boxing Day, Australians splurged $1.23

Department Stores 246

Department Stores Accounting Accessories Apparel 246

Inside Retail

MAY 17, 2023

Leasing revenue accounted for more than 90 per cent of the total, at us$1.25 One of the key issues facing Simon and other mall operators is that they are still joined at the hip to department store anchors. And one of the remaining three, Neiman Marcus, is basically an upscale apparel department store. billion ($2.03

Department Stores 264

Department Stores Boutique Apparel Accounting 264

Retail TouchPoints

MARCH 29, 2021

Nike has reportedly closed its accounts with DSW , Urban Outfitters , Shoe Show , Dunham’s Sports , Olympia Sports and Big 5 Sporting Goods as the retailer pulls out of specialty retailers and department stores, according to Forbes and other media outlets. billion , accounting for 35% of gross sales, according to Forbes.

Sporting Goods 320

Sporting Goods Wholesale Specialty Retailers Accounting 320

Inside Retail

APRIL 20, 2022

The company will also run some 250 wholesale accounts both locally and internationally. Morris said the company’s Designworks division supplies products to department stores and discount department stores, while Shoes & Sox is the leading children’s footwear retailer in Australia, dominating the children’s footwear category in Myer.

Department Stores 246

Department Stores Wholesale Apparel Fashion 246

Inside Retail

JANUARY 29, 2023

Department store David Jones is replacing its long-term own-brand credit-card partner American Express with Lattitude in a 10-year contract. Our financial services program is a core pillar of our service offering to our customers,” said David Jones CEO Scott Fyfe. “We Latitude has more than 2.8

Department Stores 225

Department Stores Finance Accounting Customer Experience 225

Retail TouchPoints

JANUARY 27, 2023

Grupo Coppel, which operates one of Mexico’s largest department stores, Coppel , as well as a major banking network in the country, has launched Coppel Access — a mobile wallet designed to provide millions of unbanked and underbanked Mexican consumers in the U.S. with mobile financial services. Developed with Grupo Coppel’s U.S.

Payment Services 147

Payment Services Department Stores Accounting Location 147

Retail Gazette

DECEMBER 28, 2023

Signa, the retail and property empire created by Austrian billionaire René Benko filed for insolvency for two of its key divisions, including Signa Prime Selection, which co-owns properties such as the Selfridges department store in London and Berlin store KaDeWe.

Department Stores 74

Department Stores Accounting Finance 74

Inside Retail

OCTOBER 4, 2022

An ongoing program of closing stores that did not meet required metrics has been offset by a 14.3 per cent increase in online sales which now account for 22 per cent of the retailer’s total sales. Lew’s supposedly last word on the proposition is that a merger of the two department store chains “doesn’t make sense”.

Department Stores 246

Department Stores Payment Services Management Accounting 246

Inside Retail

JUNE 30, 2021

From using non-toxic paint in stores to digitising documents to avoid paper waste, more businesses are taking steps to make their physical operations more sustainable. That includes the Japanese department store chain Takashimaya. Takashimaya opened its first store in Kyoto, Japan, in 1831, selling gofuku (formal kimono).

Department Stores 246

Department Stores Beauty and Health Accounting Promotions 246

Retail TouchPoints

AUGUST 11, 2022

Plaines will lead all financial activities across the retailer, with the goal of driving best-in-class execution across functions including financial strategy, real estate, capital deployment, credit services, sourcing and procurement, treasury and accounting. Plaines is the department store retailer’s third C-level hire this year.

Department Stores 212

Department Stores Accounting Management Shopping 212

Inside Retail

JANUARY 24, 2022

A “particularly strong” run-up to Christmas saw department-store chain Myer achieve solid sales growth in the five months to January 1, despite the company losing 27 per cent of its brick-and-mortar store trading days due to Covid-related trading restrictions. . Online sales now account for 27.7 per cent the prior year.

Department Stores 246

Department Stores Accounting Management Planning 246

Retail Gazette

JANUARY 2, 2024

Selfridges’ Thai co-owner Central Group is seeking to take greater control of the department store and could snap up fellow shareholder Signa’s stake following its collapse. Selfridges’ owners separated its retail operations and property holdings into two separate companies — an “opco” and a “propco”.

Department Stores 115

Department Stores Payment Services Finance Accounting 115

Inside Retail

JANUARY 30, 2023

per cent while department store sales increased 11.1 per cent respectively. “When you combine the strength of the record November retail sales, predominately driven by the success of Black Friday/Cyber Monday with December retail sales, this would account for a record holiday trade of $70.3 per cent and 3.5

Department Stores 243

Department Stores Accessories Accounting ATS 243

Retail Gazette

MARCH 20, 2024

The layoffs are set to hit 60 staff – amounting to less than 5% of the luxury department store retailer’s overall employee base. Harvey Nichols will soon be filing its accounts for the year to 1 April 2023. Click here to sign up to Retail Gazette‘s free daily email newsletter

Returns 103

Returns Department Stores Accounting Shopping 103

Inside Retail

OCTOBER 31, 2021

Department store David Jones has clawed its way back into the black, according to a report in The Australian , after posting its first net profit since 2018. Accounts lodged with ASIC by David Jones’ holding firm Osiris Holdings tell of a healthy net profit of $83.4 million for the same period a year prior.

Net Profit 130

Net Profit Department Stores Accounting Returns 130

Retail Gazette

JANUARY 30, 2024

Sales for the online department store rose 5% in the eight weeks to 31 December, boosted by a 29% surge in festive decorations and 14% jump in homewares and electricals. Freemans reported a strong Christmas as sales edged up over the golden quarter thanks to its ongoing digital transformation strategy.

Department Stores 109

Department Stores Accounting Marketing 109

Inside Retail

FEBRUARY 24, 2022

Myer has announced the closure of its Blacktown store in Sydney’s outer west, a move that follows the reduction of footprints of five other stores across Australia. .

Planning 246

Planning Department Stores Accounting Location 246

Retail Gazette

OCTOBER 10, 2023

The department store retailer posted an operating profit of £38.9m loss the year before, according to accounts filed on Companies House. However, when taking into account a surge in debt interest costs, the retailer lost £38m for the year, down from the £83.9m for the 12 months to January 2023, down from a £38.1m

Department Stores 79

Department Stores Payment Services Accounting Returns 79

Inside Retail

JUNE 9, 2021

Fast-growing Australian online retailer Canningvale plans to relaunch the iconic Singaporean department store Robinsons as an online-only business this month after acquiring the company’s digital assets for an undisclosed sum. Some of the brands have a history with Robinsons, while others are new to the department store. .

Planning 147

Planning Department Stores Fast Fashion Fulfillment 147

Retail TouchPoints

JANUARY 29, 2021

Unsurprisingly, ecommerce will be the most popular destination for Valentine’s Day shopping, accounting for 39% of the total. The other top shopping destinations include: Department stores ( 29% ); Discount stores ( 28% ); and A tie between local small businesses and specialty stores ( 17% each). in 2020 to $10.77

Specialty Store 306

Specialty Store Discount Store Department Stores Planning 306

Retail TouchPoints

FEBRUARY 23, 2021

Macy’s Q4 and full-year 2020 results show signs of a turnaround for the department store, hard hit, like many of its counterparts, by the COVID-19 pandemic. Net income for the 13 weeks ended Jan.

Department Stores 211

Department Stores Returns Jewelry Apparel 211

Retail TouchPoints

MAY 20, 2022

“Loyalty to those stores used to be 100% — a top customer would go to Neiman Marcus for everything and not go anywhere else. But come 2006, 2007 we really started to see that loyalty go away, and the bigger piece of it was [that] fewer people were going into department stores overall.

Wholesale 230

Wholesale Department Stores Fashion Social Commerce 230

365 Retail

AUGUST 19, 2021

John Lewis will offer new savings accounts for customers amid a diversification push away from retail. The high street institution’s Individual Savings Accounts for both adults and children will launch on Thursday through a collaboration with digital wealth manager Nutmeg.

Accounting 52

Accounting Management Planning Shopping 52