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Crunch time as M&S expected to post lowest annual profit in four years Monday, 20th May 2013
Photo credit: Marks & Spencer plc
One of Britain’s best-known brands is expected to report its lowest annual profit in four years on Tuesday, as sales continue to drag for Marks & Spencer. The department store is forecast by analysts to report a profit before tax and one-off items of £640 million to £670 million tomorrow, with a consensus of £658 million, according to a company poll.
Posted in Department Stores, fashion, Retail Industry Tagged marks, spencer, department, store, chain, food, clothing, launch, forecast, predict, marc, bolland
US Apple stores make record sales Monday, 20th May 2013
Photo credit: My-Retail Media
A study by Asymco’s Horace Dediu shows that Apple’s US retail stores make money than any other store per square feet, as well as revenue per visitor. Approximately USD 13 million worth of revenue is accumulated per store, which roughly translates as USD 57.50 per visitor.
Posted in Electricals, Technology Tagged Apple, Asymco, Horace Dediu, technology, US retail
Garden centres bloom after freezing weather Monday, 20th May 2013
Garden centres have had a flock of green-fingered customers during early spring.
Posted in Cosmetics, Home & DIY News, Retail Industry Tagged garden centres
Macy's earnings per share rise for 15th consecutive year Monday, 20th May 2013
Photo credit: Macy's
Macy’s Inc. is keeping the pressure on to emulate rising sales figures after its earnings per share rose for the 15th consecutive year. According to WWD, Macy’s first quarter results show that they achieved a 13th straight quarterly comp gain of at least 3 per cent and sales have rose by more than USD 1 billion in each of the last three years.
Posted in Franchise & Expansion, Luxury Goods, Online retail, Retail Industry Tagged Macy's, Bloomingdale's, chief executive, chairman, president, Terry J. Lundgren, retail, online retail, millennial
Kempinski opens second hotel in Shanghai Monday, 20th May 2013
Europe's oldest luxury hotel group, Kempinski Hotels has signed an agreement with Shanghai Suncuba Co. Ltd to take over Gran Meliá Hotel Shanghai's management.
Posted in Deals and Takeovers, Luxury Goods Tagged Hotel Industry, Finance, Rebranding
Luxury watch retailers at Hong Kong report negative financial results Monday, 20th May 2013
Hong Kong which is the world's significant market for luxury watches are experiencing the effects of the fall in demand by Chinese travellers.
Posted in fashion, Fashion News, Jewellry, Luxury Goods, Online retail, Retail Industry Tagged watch industry, finance
Marks & Spencer next in line to face criticism for corporate tax structure Monday, 20th May 2013
Photo credit: Marks & Spencer
Marks & Spencer has become embroiled in the corporate tax debacle which has seen tax campaigners criticise big companies about the way they structure its online sales to Europe. The Guardian has recently launched an investigation into companies who appear to be exploiting lenient tax rules by invoicing transactions to countries with the lowest corporate tax rates.
Posted in Department Stores, Online retail Tagged Marks & Spencer, Amazon, corporation tax, David Cameron, George Osborne, Ed Miliband, Google, Margaret Hodge, Suzy Blackwell, UK Uncut, Guardian, G8 Summit
Damiani reports fall by 9% in turnover Monday, 20th May 2013
Damiani reports a fall by 9 per cent in turnover to EUR 107.5 million for the 9 months of fiscal year ended 31 March.
Posted in fashion, Fashion News, Jewellry, Luxury Goods, Online retail, Retail Industry Tagged Damiani, fashion industry, retailers, finance
Tesco plans to extend F&F brand Monday, 20th May 2013
Tesco has reported plans to extend over 50 new franchise clothing stores for coming five years to expand F&F brand.
Posted in fashion, Fashion News, Food, Online retail, Retail Industry, Supermarket News, Supermarkets, supply chain Tagged Food industry, clothing, Tesco, Retail industry
Mixed bag for BRC results as both footfall and shop vacancy rates rise Monday, 20th May 2013
Photo credit: My Retail Media
The latest results from the British Retail Consortium revealed footfall on the high street rose 3.4 per cent year-on-year in April, the biggest increase since the run up to Christmas 2011. According to the results, which were compiled by the BRC and Springboard, the high street saw significantly more visitors in the month, compared with a 0.3 per cent rise in footfall for out-of-town centres, and a 3 per cent drop in shopping centres.
Posted in Retail Industry, Shopping Centres Tagged brc, retail, high street, rates, footfall, springboard, statistics, vacancy, occupancy, shopping, centre, mall
