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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.
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.
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.
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.
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.
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.
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?
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.
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.
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.
The flagship follows the openings of the label’s travel retail boutique at Sydney International Airport in November 2022 and a shop-in-shop at David Jones departmentstore in Sydney last October.
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.
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.
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.
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.
Australias departmentstores are at a crossroads. Competition has never been more fierce and while data from the Australian Bureau of Statistics showed an uptick in department-store sales in November, this is likely temporary with earlier months showing stagnation or decline. So how did we get here?
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.
Bed Bath & Beyond has appointed Bart Sichel as EVP, Chief Marketing and Customer Officer as the troubled retailer rebuilds its executive leadership following a number of departures in 2022, including former SVP of Marketing James Reath.
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.
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.
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.
The House of Amouage and Luxasia are expanding their partnership to bring high perfumery to several Asia Pacific markets. Moreover, the parties agreed to increase investments to grow the Amouage brand across all joint markets. Founded in Oman in 1983, Amouage now has over 50 perfumes available in more than 80 countries.
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.
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.
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.
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.
“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.
Central’s acquisition move is not unusual,” Selvane Mohandas du Ménil, International Association of DepartmentStores managing director, told Inside Retail. Central Group made the headlines again in 2022 after snapping up Selfridges Group, making it the largest luxury departmentstore operator in Europe. What’s next?
In 1999, the company was acquired by Louis Vuitton Möet Hennessy , but perhaps its biggest brush with fame occurred in 1997 when Princess Diana made a surprise visit to the brand’s newly opened counter at the famed Harrod’s departmentstore. In today’s marketing landscape, there’s so much access to customer data.
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.
Iconic British departmentstore Harrods has partnered with the Global-e international ecommerce platform to improve its online operations in more than 200 markets worldwide and offer customers elevated, localized shopping experiences.
Wesfarmers booked higher net income and revenue in the last fiscal year, with its discount departmentstore chain Kmart contributing the most growth among its retail businesses. billion, benefitting from above-market rise in the technology category. The company’s net income grew 3.7 per cent to $2.56 per cent to $44.19
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.
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%.
A prospective backdoor listing and a marriage of convenience have enlivened end of financial year stock market prognostications. After some six years spent exploring and preparing for a stock market listing, Chemist Warehouse believes the Sigma backdoor listing is its best option and will not adversely impact on competition in the market.
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.
In an ASX announcement, the departmentstore’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.
Departmentstore 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.
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.
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 departmentstore chain truly adapt to the needs of the modern-day consumer?
The departmentstore retailer will curate a collection of luxury merchandise from brands including Stella McCartney, Chantecaille, Giambattista Valli, Dolce & Gabbana, Balmain, Erdem and Fear of God , with additional brands set to launch in the coming months.
A new range of Forever 21 fashions has debuted at 100 JCPenney stores across the U.S. The move marks the latest bid by the perennially challenged departmentstore chain to turn around, by bolstering its appeal with teens and young adults. JCPenney isn’t Forever 21’s first foray into departmentstores. and online.
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