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The departmentstore 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.
Once seen as a staple of urban retail, departmentstores 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.
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 departmentstores, including Saks Fifth Avenue, Saks Off 5th, Neiman Marcus and Bergdorf Goodman.
Liu is reportedly planning to launch a new departmentstore concept aimed at a broad, multicultural Canadian audience, according to reporting in Retail Insider and other media outlets.
The monetisation of retail assets has come a long way since departmentstores 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.
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.
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 departmentstores in the UK, including Harrods and Selfridges , where it sells both its own and third-party brands.
A year after the French luxury departmentstore originally announced it would be launching its first US location, Printemps is officially opening a brick-and-mortar store in the heart of New York Citys financial district on March 21. Departmentstores havent had the best reputation the last few years.
On April 17, Takashimaya, Japans upscale departmentstore company, released the results for its fiscal year ending February 28. At these big stores,15 per cent of the customer base, on average, were international tourists who spent big on duty-free; that percentage was up to almost 30 per cent in Osaka.
According to the ABS , departmentstore spending increased by 3.7 Tighter household budgets, aggressive marketing by online businesses and changing consumer habits, particularly among younger people more familiar with online shopping, have contributed to this growth,” said KPMG senior economist Terry Rawnsley in a statement.
This includes significant investment into Steen & Strøm (S&S) shopping centre, the world’s oldest continuously running departmentstore and anchor of the Promenaden portfolio, to diversify the store’s product and service offerings, as well as enhance its provision of experience-led shopping experiences.
At their very core, brick-and-mortar stores are meant to be the physical manifestation of a brand a distillation of its promise and the experience it aims to create for shoppers and associates alike. Andrew Lipsman, Founder and Chief Analyst of the consultancy Media, Ads + Commerce, calls physical stores the next major media channel.
According to a report by iResearch, the market size of micro-dramas in China last year reached US$6.85 The offbeat premise was a viral hit and a rare example of the F&B and home renovation sectors taking a narrative-forward marketing approach. Further reading: Whats driving the transformation of Chinas departmentstores?
Discount retailers focus on affordability, and specialty stores cater to unique interests. Next, let’s explore how departmentstores and chain stores fit into your shopping strategy. Specialty stores cater to specific product categories, allowing for personalized service and a wider range of brands.
To address this problem, Barington believes Macys should form a separate real estate subsidiary to optimize the value of its real estate portfolio as well as significantly reduce capital expenditures , following the example of its departmentstore peer Dillards. (In Since fiscal year 2014, Macys has spent $9.7
Indian retail conglomerate Reliance Industries Limited has signed a franchise agreement with American luxury departmentstore Saks Fifth Avenue to expand its luxury retail portfolio through its subsidiary Reliance Retail, the company said in its third-quarter financial report last week.
The Australian luxury departmentstore, Harrolds, has been brought back to life by two former managers, Arasch Enayat and Gino Pagano, who completely self-funded the business’s renaissance. We are going to move the luxury menswear market forward by bringing more brands to Australia that they haven’t seen,” he continued.
While there is no one-size-fits-all solution to the tariff problem, and the situation remains fluid, several Australian retailers told Inside Retail they are recalibrating their strategies and looking to streamline their operations rather than retreat from the lucrative US market.
Japanese departmentstore Matsuya has introduced a digital platform with a click-and-collect service including tax refunds in a bid to tap into the growth of international tourists. Established in 1874 as a kimono retailer, Matsuya Co operates departmentstores in Tokyo’s Ginza and Asakusa districts.
According to one Gartner Market Guide : “By 2025, the top 10 global retailers by revenue will leverage contextualized real-time pricing…to manage and adjust in-store prices for customers.” Another compelling example comes from a leading departmentstore that implemented AI pricing across its physical and digital channels.
Departmentstores, which have traditionally been one of the favourite retail go-to places for high-end chocolates, have had to think a little bit out of the box (or out of the square if you prefer). Chocolate isnt everything A worldwide scarcity of cocoa isnt the only thing thats bothering Japans departmentstores though.
View this post on Instagram A post shared by Team Coco (@teamcoco) How Macy’s Store Closures Factor Into the Job-Cut Wave Although craft chain Joann and several pharmacy giants have grabbed headlines, Macy’s looms large in the 2025 retail retrenchment story. Shoppers asked for: A broader mix of private-label and market brands.
But designing a successful retail experience doesn’t simply involve placing stores and restaurants next to the stadium. It’s essential to harness consumer and market insights to craft an experience, and the right mix of uses, to entice locals to visit the stadium district for shopping, dining and a place to live or work.
David Jones has teamed up with Qantas as the premium departmentstore prepares to launch its loyalty program David Jones Rewards later this year. As part of the partnership, customers will be able to earn and redeem either David Jones Rewards Points or Qantas Points when they shop at the retailers 40 stores and online.
So it is, too, with Japan’s departmentstores, particularly at the high end, which are trying to scale last year’s dizzy heights when the yen was weak and tourism was rebooting. The departmentstore leadership was well aware this problem would come: Tourism growth was bound to level off, and the local currency would regain ground.
After acquiring the distressed departmentstore in 2022, Boohoo Group has pivoted the once-beloved high street favourite into a new direction, reintroducing it as what it claims to be Britains leading online departmentstore with a marketplace model. “The young fashion market has really struggled,” he adds.
Upon completion of the transaction, which is expected to close in the first half of this year, Nordstroms common stock will no longer be listed on any public market. However, long-term success for Nordstrom wont come without further changes.
Macys has named Thomas Edwards as its new CFO and COO, effective June 22, 2025, as part of a realignment of the departmentstore retailers C-suite. He will replace the departing Adrian Mitchell, who will remain through June 21 to help ensure a seamless transition.
In the competition for consumer dollars, stores remain a crucial part of a successful omnichannel strategy and there is significant opportunity in the current market for retailers looking to open stores and developers looking to reimagine spaces in fresh ways. Lets start by looking at the landscape.
While David Jones’ chief executive Scott Fyfe has positioned the departmentstore’s new loyalty program in partnership with Qantas as a key element in the group’s recovery strategy, retail experts aren’t convinced it’s that simple. “A appeared first on Inside Retail Australia.
Typically, consumers seek out departmentstores and shopping centres to get in the holiday spirit but LaManna has managed to position itself as the exception. LaManna, the 10,000sqm independent supermarket located at Essendon Fields, is rising to the Christmas occasion.
Nathalie Ahlström: For Fiskars Group, Australia is our fifth largest market, it’s big. When you look at other global companies, not many can say Australia is their fifth-largest market, so this is a unique place for us, and also I see a lot of future potential for Fiskars Group in the Australian market.
Sales were down at the departmentstore in both Q4 2024 and for the full year, both of which ended Feb. In Q4, net sales decreased 9.4% and comparable sales were down 6.7% year over year, mimicking results for the full year where net sales decreased 7.2% and comparable sales were down 6.5%.
The departmentstore chain has yet to name the appointees for the newly created roles of GM of merchandise for beauty, accessories and services and GM of merchandise for women’s apparel. Last July, the company appointed Clarabella Burley, ex-Qantas Loyalty head of marketing, to the same role at Myer.
The post Myer cites volatile market and distribution issues in tough second half appeared first on Inside Retail Australia. While recognising FY25 is a year of transition for Myer Group, we have taken steps to strengthen our leadership team and are making good progress in implementing our strategy, said Wirth.
John Lewis has appointed M&S’ former marketing director Anna Braithwaite as its new chief customer officer. Braithwaite will join the departmentstore chain on 1 October following the completion on a non-compete period, The Times reported. Click here to sign up to Retail Gazette‘s free daily email newsletter
A timeline of events Tuchuzy was founded by Daria Sukic in 1995 and operated for 25 years before first entering voluntary administration in June 2020 its demise at the time was put down to the volatile retail market caused by the pandemic and lockdowns. We are finding this a lot across the multi-brand boutique market.
based companies, will take the storied luxury departmentstore private in an all-cash deal valued at approximately $6.25 Members of the Nordstrom family along with Liverpool , a Mexican retailer that has recently been expanding relationships with U.S.-based ownership of the company and 49.9% to Liverpool.
In-store AI touchpoints are also being embraced in the burgeoning resale market. Whether it’s in a livestream or a departmentstore, Kennedy believes real-time authentication will soon be as familiar as scanning a barcode. Resale isn’t a niche anymore, it’s mainstream commerce.
In 2023, the premium spice brand found itself placed upon the shelves of Harrods in Knightsbridge London, one of the worlds most storied departmentstores. The brand is not mass market, and it doesnt want to be. Less about market share and more about meaning.
The downfall of the almost 40-year-old business raises the question of whether this is a sign of things to come as retailers struggle to compete with the increasing e-commerce capabilities and convenience of retail goliaths on the global market, or whether it is a case of Harrolds facing a ‘perfect storm’ of challenges on multiple fronts.
“While Australians continue to face cost-of-living pressures, particularly in a high-interest rate environment, we’ve seen that they’re still willing to spend, particularly on others during key gifting moments like Black Friday,” James Holloman, David Jones’ chief marketing officer, told Inside Retail.
Last week, Saudi Arabia’s Public Investment Fund (PIF) snapped up a 40% stake in Selfridges Group , which includes the British departmentstore chain, along with the De Bijenkorf departmentstores in the Netherlands and Brown Thomas and Arnotts in Ireland. This led to a new auction for its stake in Selfridges.
A fresh food market pavilion, alfresco dining and another office tower are still to come. Local departmentstores Myer and David Jones anchor Chadstone’s retail offering, alongside budget retailers and supermarkets, a cinema, local and international flagships, over 335 specialty stores and the most expansive luxury offering in Australia.
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