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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.

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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.

Insiders

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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.

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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.

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What to learn from Bunnings’ move into Australia’s $3bn retail media market

Inside Retail

The monetisation of retail assets has come a long way since department stores like Myer and David Jones first sold physical space within their stores. Retail media allows brands to target shoppers at or near the point of purchase, leveraging a retailers first-party data to deliver relevant, conversion-focused marketing.

Marketing 240
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Macy’s to Adapt Best-Seller About Department Store Icons into TV Series

Retail TouchPoints

The deal was spearheaded by Macys Chief Marketing Officer Sharon Otterman and is seen by the company as a continuation of its long-time presence in the live entertainment space, with events like the Macys Thanksgiving Day Paradeand Macys 4th of July Fireworks.

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Steve Madden Buys Kurt Geiger for $364.1 Million

Retail TouchPoints

store last month , with another five in development and plans to eventually operate 50 locations in the region. Additionally, Kurt Geiger operates footwear concessions inside luxury and premium department stores in the UK, including Harrods and Selfridges , where it sells both its own and third-party brands.