Inside Retail

JUNE 4, 2023

In an ASX announcement, the department store’s board thanked King for his “extraordinary contribution” and added that his decision to leave is based on “being with his family as their health circumstances demand.” When he took over the helm of Myer in 2018, it was losing sales and struggling.

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Department Stores Specialty Retailers Returns Planning 264

Inside Retail

NOVEMBER 9, 2023

At Myer’s annual general meeting this week, outgoing CEO John King predicted that trading activity on Black Friday would likely surpass Christmas, with the department store preparing stock ahead of time to mitigate any logistical delays related to potential industrial action. per cent increase in total sales to $3.36

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Department Stores Telecommunications Planning Returns 264

Retail TouchPoints

JULY 5, 2024

Marking the culmination of nearly seven years of on-again, off-again negotiations, HBC , parent company of Saks Fifth Avenue and Bergdorf Goodman , will acquire another storied luxury department store brand, Neiman Marcus , for $2.65 Current Saks.com CEO Marc Metrick will become Saks Global’s new CEO.

Department Stores 279

Department Stores Finance Supermarket Accounting 279

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. The company forecasts sales to fall 3 per cent to $1.83 billion, despite online sales increasing 2 per cent to $390.1 Online sales account for 21.3 per cent of the retailer’s overall sales.

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Net Profit Department Stores Accounting Promotions 303

Retail Wire

JULY 15, 2024

The legendary department store chain is banking on itself in the future.

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Department Stores Shopping 264

Retail TouchPoints

NOVEMBER 15, 2024

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.

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Department Stores Planning Store Operations ATS 253

Inside Retail

JUNE 23, 2024

Department store group Myer has proposed to combine its business with Premier Investments’ Apparel Brands, comprising Just Jeans, Jay Jays, Portmans, Jacqui E and Dotti. The proposal is non-binding, indicative and conditional.

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Apparel Department Stores Marketing Accessories 306

Inside Retail

JULY 23, 2024

Aesop will return to David Jones next month as part of the department store chain’s strategy to boost its luxury beauty offerings. The brand will later launch at Chadstone Shopping Centre and Bourke Street Mall as part of the stores’ $15 million beauty hall redevelopment.

Returns 278

Returns Department Stores Shopping ATS 278

Inside Retail

AUGUST 7, 2024

The department store chain expects net profit after tax of between $50 million and $54 million for FY24, compared to $71.1 Myer has flagged a drop in profit for this fiscal year, largely due to underperformance at its three specialty brands amid macroeconomic challenges. million in the prior year.

Net Profit 286

Net Profit Department Stores Management Consumer 286

Inside Retail

JUNE 25, 2024

The acquisition of Just Jeans, Portmans, Jacqui E, Dotti and Jay Jays by Myer provides a new growth channel after several years of reducing department store floor space and trying to find a fashion edge. The Premier brands could also provide the department stores with expanded merchandise range options.

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Apparel Department Stores Wholesale Fashion 277

Inside Retail

DECEMBER 1, 2024

billion, and department stores climbed 0.4 Household goods rose 3.3 per cent to $5.92 billion while food increased 3 per cent to $14.53 Cafes, restaurants, and takeaways grew 2.3 per cent to $5.48 billion, while clothing, footwear and accessories increased 1.7 per cent to $3.02 per cent to $1.91

Department Stores 264

Department Stores Accessories Planning Consumer 264

Inside Retail

MARCH 13, 2024

Department store chain Myer has appointed non-executive director Olivia Wirth as CEO and executive chair, effective June 4. Wirth will succeed current CEO and MD John King, who will remain in his role until June 3 to facilitate the transition and handover.

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Department Stores ATS 290

Inside Retail

OCTOBER 26, 2023

Macy’s has been stepping up to the plate with a series of new moves, from the expansion of its smaller-footprint stores, to a new digital fashion platform targeting younger shoppers. But while these initiatives sound promising, the question remains: can the department store chain truly adapt to the needs of the modern-day consumer?

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Department Stores Fashion Grocer Location 245

Inside Retail

JANUARY 29, 2024

” Department store sales climbed 3.7 “Department stores fared particularly well, capitalising on the Boxing Day sales and the final few weeks before Christmas with a range of promotional events.” per cent to $1.83 billion, followed by food sales which grew 1.4 per cent to $14.18 per cent higher to $5.29

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Department Stores Accessories Promotions Consumer 290

Inside Retail

AUGUST 28, 2024

Wesfarmers booked higher net income and revenue in the last fiscal year, with its discount department store chain Kmart contributing the most growth among its retail businesses. The company’s net income grew 3.7 per cent to $2.56 billion, while revenue rose 1.5 per cent to $44.19 Kmart Group ‘s revenue grew 4.4

Department Stores 299

Department Stores Marketing ATS 299

Inside Retail

AUGUST 7, 2023

David Jones is expected to axe as many as 100 jobs as its department store operations are being reviewed under the new owner. The company is in the process of improving store efficiency and eliminating tasks such as preparing sales reports for stores and office tasks, which can increasingly be done with the use of technology.

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Store Operations Department Stores Management Location 246

Retail Wire

NOVEMBER 5, 2024

Legendary department store Bloomingdale's has announced a holiday partnership with Universal Pictures' "Wicked."

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Department Stores Shopping 246

Retail TouchPoints

APRIL 19, 2024

The Nordstrom board made clear that forming the committee was no guarantee that the department store retailer would pursue “any particular transaction or other strategic outcome,” according to a company statement. However, the committee has retained Morgan Stanley & Co.

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Department Stores Planning Marketing 237

Inside Retail

SEPTEMBER 19, 2024

Myer saw a decline in net profit in the last fiscal year due to the underperformance of Sass&Bide, Marcs, and David Lawrence, inflationary pressures, and store closures. The department store chain’s net profit fell 26 per cent to $52.6 million as sales dipped 2.9 per cent to $3.27 million, which accounted for 21.6

Net Profit 264

Net Profit Department Stores Apparel Accounting 264

Inside Retail

MAY 17, 2023

One of the key issues facing Simon and other mall operators is that they are still joined at the hip to department store anchors. Seven of Simon’s top 10 anchors are mainstream department store chains, headed by Macy’s (97 stores) and JCPenney (53 stores).

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Department Stores Boutique Apparel Accounting 264

Inside Retail

FEBRUARY 28, 2024

billion and department stores slid 1.3 “The biggest discretionary categories, clothing, household goods and department stores, all suffered a decline as Australians tightened their purse strings amid the cost-of-living crunch,” Australian Retailers Association CEO Paul Zahra said. per cent to $2.93

Department Stores 278

Department Stores Accessories Consumer ATS 278

Inside Retail

JULY 3, 2024

Department store sales also declined 1.7 The discretionary categories are being hit the hardest, as seen with household goods, clothing and department stores,” said Fleur Brown, chief industry affairs officer at the Australian Retailers Association. Food retail sales grew 3.0 per cent to $14.36 per cent to $5.73

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Promotions Department Stores Accessories Consumer 275

Retail TouchPoints

FEBRUARY 9, 2024

In late 2022, Neiman Marcus Group (NMG) entered a long-term agreement with Farfetch that saw the marketplace invest $200 million in the department store chain. The moves by Neiman and Kering follow the contentious sale of Farfetch to South Korean ecommerce company Coupang , which was completed on Jan.

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Department Stores Boutique Finance Fashion 251

Inside Retail

APRIL 22, 2024

Department store Myer has reportedly fired more than 50 head office staff across its digital, IT, and e-commerce teams as it offshores their functions to India.

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Department Stores Management 264

Inside Retail

MARCH 16, 2023

Department store Myer will exit its Queen Street Mall flagship in Brisbane’s CBD after unsuccessful negotiations with the landlord on lease renewal terms. In a trading update, the retailer said it will continue to search for alternative locations for its CBD flagship.

Department Stores 246

Department Stores Location Marketing ATS 246

Inside Retail

FEBRUARY 8, 2024

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. per cent increase is a case of under-promising and over-delivering, the department store CEO is taking the win as a sign of more growth to come. “We

Department Stores 264

Department Stores Inventory Management Planning Returns 264

Inside Retail

APRIL 22, 2024

Department store Myer has laid off head office staff across its e-commerce and operations teams as it offshores functions to India.

Department Stores 279

Department Stores Management 279

Inside Retail

AUGUST 20, 2024

Moreover, the group started the reconfiguration of department store space at Westfield Bondi and Westfield Burwood in Sydney and Westfield Southland in Melbourne. Meanwhile, Scentre Group said it continues to progress its $4 billion pipeline of future retail development opportunities.

Department Stores 306

Department Stores Shopping Location Marketing 306

Retail TouchPoints

MAY 29, 2024

The collection will be available through various retail channels, including department stores, sports retailers and local optical stores, as well as at [link]. Each style integrates a range of technology including 100 -foot-range Bluetooth, ultra-clear microphones and quadrasonic speakers for music and call capabilities.

Department Stores 265

Department Stores Outdoor ATS 265

Inside Retail

NOVEMBER 2, 2023

So what types of stores and services do they want? Intriguingly, four types of stores/services that are disappearing from main streets around Australia – the post office, bank, department store and newsagent – are in the top ten (out of 45 choices in our survey). The top ten stores and services in an ideal main street.

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Department Stores Shopping Marketing Planning 299

Inside Retail

JANUARY 21, 2024

The brand has grown to have a presence in 80 countries through a distribution network encompassing 1200 points of sale across stand-alone stores, franchises, department stores, multi-brand leather goods stores, travel retail and e-commerce websites.

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Department Stores Boutique Fashion Accessories 262

Inside Retail

JULY 7, 2023

Department store Kmart Australia is set to close its Port Adelaide store in the coming months, resulting in 100 job losses. A Kmart spokesperson told Inside Retail that affected employees would be redirected to opportunities within the “wider Wesfarmers business” when the store closes.

Department Stores 263

Department Stores Location Shopping ATS 263

Retail Wire

MAY 3, 2023

Nordstrom is closing its Nordstrom Rack store in San Francisco on July 1 and its namesake department store by the end of August. “Decisions like this are never easy, and this one has been especially difficult,” said Jamie Nordstrom, the retailer’s chief stores officer.

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Department Stores Marketing 264

Inside Retail

OCTOBER 24, 2023

Woolworths Group saw its sales increase in the first quarter of FY23 despite falling sales in its discount department store Big W and other businesses. The supermarket chain witnessed its sales increase 5.3 per cent year over year to $17.22 billion in the 14 weeks to October 1. Yet sales at Big W declined 5.5 per cent to $1.13

Department Stores 262

Department Stores Supermarket Retailing Pricing ATS 262

Inside Retail

SEPTEMBER 13, 2023

Department store chain Myer delivered its highest full-year sales since 2005 this year but remains cautious as consumer spending declines due to unfavourable economic conditions. per cent of total sales – and a 10 per cent increase in productivity gains at physical stores. Myer’s total sales grew 12.2 per cent to $3.36

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Net Profit Department Stores Returns Store Operations 278

Retail TouchPoints

MARCH 3, 2023

Nordstrom will shutter its six full-line department stores and seven Nordstrom Rack stores in Canada, along with its Canadian website , in a move that is expected to save the retailer $35 million in EBIT in fiscal 2023 compared to fiscal 2022.

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Department Stores Customer Experience Planning Store Operations 266

Inside Retail

OCTOBER 19, 2021

The lockdowns have had a significant impact on discretionary retailers and department stores in particular, which recorded the sharpest decline in year-on-year sales out of the categories of retail [at 14.5 per cent].”.

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Department Stores Shopping ATS 325