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

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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. .

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Retail TouchPoints

MARCH 7, 2024

Nestled among its Q4 2023 earnings was the news that Nordstrom plans to add a third-party marketplace to the Nordstrom.com website in April. “By The company’s digital business remains strong, accounting for 36% of sales in fiscal 2023. over Q4 2022.

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Department Stores Accounting Planning Shopping 222

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.

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Sporting Goods Wholesale Specialty Retailers Accounting 316

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.

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Retail TouchPoints

JANUARY 29, 2021

adults plan to celebrate Valentine’s Day this year, spending a total of $21.8 However, 74% of those celebrating noted that pandemic will directly impact their Valentine’s Day plans, which has resulted in an average spending drop. Just over half ( 52% ) of U.S. per person spent in 2020. Spending on teachers is down from $14.45

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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).

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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

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Retail TouchPoints

NOVEMBER 18, 2022

million people plan to shop between Thanksgiving Day and Cyber Monday in 2022, representing 69% of all holiday shoppers, according to a survey conducted by the National Retail Federation (NRF) and Prosper Analytics. million people , 69% of those planning to shop across Thanksgiving weekend, heading out for deals. An estimated 166.3

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Inside Retail

AUGUST 31, 2023

There is also a view that the breakup strategy could fund further acquisitions, including the Myer department store chain in which he has already built a substantial shareholding. The timing tends to infer that Murray was not keen on the breakup plan or didn’t see a suitable role for himself in the future.

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Retail TouchPoints

JULY 14, 2023

billion , with the top products planned for purchase including laptops ( 51% ), tablets ( 36% ) and calculators ( 29% ). More than 55% of respondents who are planning to shop for school supplies said they had already started buying as of early July — on par with 2022 and up from 44% in 2019. per person, up from $1,199.43 set in 2021.

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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. 22 Macy’s announced plans to close 45 stores by mid-2021, according to CNBC , part of a previously announced plan to close 125 locations by 2023.

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Department Stores Returns Jewelry Apparel 210

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

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Department Stores Payment Services Accounting Returns 80

Inside Retail

NOVEMBER 16, 2022

Burberry’s new chief executive Jonathan Akeroyd will on Thursday set out his plan to finish the job started by his predecessor: boosting growth at the British luxury brand to the levels of its European rivals. Leather goods account for around 20 per cent of Burberry’s sales versus 70 per cent at Bottega Veneta.

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Fashion Department Stores Planning Accounting 278

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.

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Inside Retail

OCTOBER 27, 2022

The brand’s expansion into skincare earlier this year was a resounding success, with the new vertical already accounting for 30 per cent of annual revenue, which is said to be in excess of £50 million ($89 million). And that’s only the beginning.

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Retail TouchPoints

MAY 22, 2023

Today, Curacao operates stores that are at least 100,000 square feet in size and cover four main verticals — electronics, home, fashion, kids and babies — and 17 different subcategories. We don’t want to be just a store that sells stuff that everyone else sells ,” said Nerubay. We feel like them.”

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Payment Services Department Stores Shipping Accounting 275

Inside Retail

JUNE 21, 2021

The viability of the two iconic department store chains, Myer and David Jones, has been seriously analysed and debated since a merger proposal by Myer was revealed in 2014. The financial collapse of traditional US and UK department stores and the impact of the pandemic has increased industry scrutiny on Myer and David Jones.

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Department Stores ATS Net Profit Planning 113

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.

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Inside Retail

APRIL 12, 2023

It currently accounts for over 10 per cent of the country’s gross domestic product (GDP) and around 8 per cent of the employment. Making the brand relevant year round by planning special promotions during Indian cultural events, and big sporting events such as cricket tournaments could all help big brands eyeing the Indian market,” he opined.

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Department Stores Consumer Marketing Accounting 261

Retail TouchPoints

SEPTEMBER 28, 2020

Retailers will need to account for the heightened demand for home deliveries from COVID-19, which has incentivized many retailers to form new relationships with Instacart, Shipt, DoorDash and other services that enable home delivery at scale. The pandemic has negatively impacted the department stores’ businesses.

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Retail TouchPoints

MAY 29, 2020

Q1 2020 financial results for Costco , Nordstrom and Abercrombie & Fitch encapsulate how three retail verticals — club, department and specialty apparel — are weathering the COVID-19 pandemic. Costco reported a successful quarter, while Nordstrom and Abercrombie discussed plans to handle the fallout. Costco posted a 7.3%

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Inside Retail

JUNE 24, 2021

In his new role, Wood will lead the newly created strategic partnerships team which will provide account management tailored to the company’s clients’ needs and champion an insight led partnership model. International Group of Department Stores appoints new president.

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Department Stores Management Apparel Accounting 147

Retail TouchPoints

AUGUST 30, 2021

I’m not an accountant, but stores are on the asset side of the balance sheet for a reason, and they need to be leveraged as much as possible to squeeze as much out of them as you can.”. However, the department store still has work to do when it comes to its merchandising efforts. Foot Locker managed solid 6.9%

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Inside Retail

JANUARY 3, 2024

It offered a smorgasbord of independently owned shops, national and international chain stores and department stores. For others a trip to the CBD allowed them to treat themselves and meet friends at the department store cafe. In short, the CBD was the place to see and be seen. billion in 2018 – a 28.2

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Inside Retail

APRIL 25, 2022

Luxury department store Harvey Nichols recently announced the opening of the first blue-chip non-fungible token (NFT) retail space at its Pacific Place Hong Kong store. Recently, Twitter introduced a function for NFT owners to link their cryptowallet to their Twitter account and change the profile picture to an NFT avatar.

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Department Stores Apparel Accounting Promotions 130

Retail TouchPoints

NOVEMBER 21, 2023

November and December holiday sales average around 19% of total retail sales, per the NRF , and this share can be even higher for some department stores and specialty retailers. Christmas is historically the largest day for new Roku account creation — causing an uptick in streaming audience reach. this year to surpass $1.3

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Inside Retail

OCTOBER 20, 2022

Maggie Beer Holdings’ CEO and MD Chantale Millard says she plans to resign by the end of the year. Nordstrom has announced chief financial officer Anne Bramman will resign from the British department store after five years at the business. Maggie Beer Holdings CEO Chantale Millard resigns. By Rakshnna Pattabiraman.

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Payment Services Department Stores Accounting Planning 130

Inside Retail

MARCH 26, 2024

IR: Any plans for an MCoBeauty retail store in the US or Australia? IR: What percentage of MCo Beauty’s sales revenue does e-commerce account for in comparison to brick-and-mortar retail? IR: Will MCoBeauty’s sister brand ModelCo be available in US retail stores anytime soon? SS: Not at this stage. SS: Six per cent.

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Retail Gazette

SEPTEMBER 15, 2023

Almost four years into D ame Sharon White’s five-year turnaround plan and not only has John Lewis Partnership unveiled another half of losses, it also revealed the plan will take another two years to complete. White says: “ The cost-of-living crunch means the plan will take longer. at the department store.

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Department Stores Planning Grocer Fashion 59

Inside Retail

JUNE 22, 2021

Consumers over 65 were the fastest growing group of online shoppers in the US in 2020, according to NPD Group’s Checkout Tracking, and they accounted for 30 per cent of goods purchased online in the UK last year compared to 20 per cent the year before, The Economist reported.

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Retail Gazette

OCTOBER 5, 2023

On top of that, she has faced fierce criticism around her turnaround plan, which includes a focus on non-retail activities such as house building. Alison Brittain Alison Brittain, currently chair of John Lewis’ big rival in homewares Dunelm and the Premier League, could be a good fit for the department store and grocery group.

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Supermarket Department Stores Grocer Returns 111

Retail Gazette

MARCH 22, 2024

Licensing accounted for £66.4m Following a “very encouraging trial” it is working with US department store Nordstrom. Elsewhere, it is also eyeing licensing agreements with other third-party brands, like it has with Laura Ashley, Reebok, and Bath & Body Works.

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Department Stores Fashion Wholesale Accounting 121

Retail Gazette

DECEMBER 21, 2023

The Range has since started opening Wilko stores and owner Chris Dawson told Retail Gazette earlier this month that he plans to open 40 more next year. Although White has had some successes, such as the launch of John Lewis value range Anyday, some elements of her plan such as its foray into housing has been met with criticism.

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Inside Retail

MAY 18, 2021

Macy’s is renewing its commitment to its flagship Herald Square, New York, store with a US$235 million plan to turn the surrounding neighbourhood into a pedestrian-friendly, modern space with subway access, improved transit connections and elevators that meet ADA [Americans with Disabilities Act] guidelines.

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Inside Retail

JULY 19, 2022

In a crowded market like the home fragrance category, where everyone from fast fashion and beauty brands to discount department stores and pharmacists are selling candles, it’s near impossible to create and retain cut-through, much less develop an iconic brand synonymous with luxury and quality like 60-year-old Parisian brand Diptyque.

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Mass Relators

MARCH 28, 2022

WASHINGTON – Eighty percent of Americans plan to celebrate Easter this year and will collectively spend $20.8 With just more than half (51%) of consumers planning in-person celebrations, up from 43% the previous year, food will account for the largest spending category. on food, followed by $28.04 on gifts and $27.93

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Consumer Discount Store Department Stores Planning 52