article thumbnail

What’s driving the transformation of China’s department stores?

Inside Retail

Once seen as a staple of urban retail, department stores in China are undergoing a transformative reinvention. Market struggles Chinas department-store sector has long been a foundational part of the countrys commercial infrastructure, but in recent years, it has been under mounting pressure.

article thumbnail

Purchaser of 28 Hudson’s Bay Leases Plans New Department Store Concept

Retail TouchPoints

Liu is reportedly planning to launch a new department store concept aimed at a broad, multicultural Canadian audience, according to reporting in Retail Insider and other media outlets.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Can Saks Global recoup its losses to become a profitable department store giant?

Inside Retail

This time last year, the retail industry was buzzing about the establishment of Saks Global, a combined retail and real estate asset that brought together some of the country’s best-known luxury department stores, including Saks Fifth Avenue, Saks Off 5th, Neiman Marcus and Bergdorf Goodman.

article thumbnail

Macy’s to Adapt Best-Seller About Department Store Icons into TV Series

Retail TouchPoints

Still, scripted television is a new realm for the department store, and certainly not the kind of project that most retailers would take on. For several years now Macys has been working to prove its own resilience as the department store sector undergoes massive upheaval.

article thumbnail

Myer’s sales decline despite higher online sales

Inside Retail

The department store chain booked sales of $1.59 per cent, impacted by the temporary closure of the Werribee store from February 14 to November 29. Its online store sales rose 2.8 Myer’s sales declined in the 22 weeks ended December 28 amid challenging trading conditions. billion, down 0.8

article thumbnail

Myer’s net profit tumbles as labour, marketing costs increase

Inside Retail

The department store chain noted incurring higher employee costs, higher support office costs related to a new marketing agency and a separate investment in transformation capabilities. billion, attributed to mixed trading conditions, store closures, and Myer Exclusive Brands stock trapped at its national distribution centre.

article thumbnail

Citing Costs, Saks Fifth Avenue Dims the Lights on its Holiday Show

Retail TouchPoints

Saks Fifth Avenue’s parent company, HBC , announced its plans to acquire competing luxury department store Neiman Marcus in July 2024 for $2.65 Although the luxury department store is cutting back on the light show, it will continue its holiday windows tradition and add the usual seasonal design touches indoors.