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CBI results find retail sales fell unexpectedly in May Wednesday, 29th May 2013
A survey by the Confederation of British Industry on Wednesday revealed British retail sales fell at their fastest pace in 16 months during May. CBI’s monthly distributive trades survey showed the sales balance fell to -11 from -1 in April, despite an analyst forecast for a reading of +3.
David Collins appointed by Jimmy Choo to oversee interior design Wednesday, 29th May 2013
Widely renowned interior architect, David Collins, has been appointed by Jimmy Choo to oversee the luxury brand’s new look, it was reported on Wednesday. David Collins Studio, which is based in London, are the design team which boast a portfolio of shop floors, restaurants and bars across London, including Alexander McQueen men’s store on Savile Row, Amanda Wakeley on Fulham Road, and the Artesian bar at the Langham, to name just a few.
Carlyle set to buy 49% stake in Chinese malls Wednesday, 29th May 2013
US private equity firm Carlyle Group LP is set to buy a 49 per cent stake in two Chinese shopping malls, as Western investors continue to look to the East for returns. As part of a vehicle advised by its Asia real estate group, Carlyle this week announced it had purchased a stake in shopping mall developer SZITIC Commercial Property Co Ltd as part of a strategic partnership between the two companies.
Russian retail giant Lenta linked to London listing Tuesday, 28th May 2013
Leading Russian hypermarket Lenta is rumoured to be considering a London listing in a deal that could raise around USD 1.5 billion. Sky News City Editor Mark Kleinman on Tuesday reported Lenta had begun preparing for a listing of Global Depositary Receipts in London, and is set to meet with investment banks in London this week to work on the listing.
Waterstones will hold a consultation to discuss job cuts Wednesday, 22nd May 2013
Hundreds of job at Waterstones are under threat as the retailer plans to consult 560 managers in a bid to cut costs and “secure the future” of the UK’s last nationwide book chain. Waterstones, who currently employ 4,000 staff across 248 stores and head office, blamed “unforgiving” trading conditions for the consultation.
Hong Kong tops world’s ‘hottest’ retail markets Tuesday, 21st May 2013
New report from CBRE lists Hong Kong as the world’s hottest retail market, with 51 new retailers entering the market in 2012. The property consultants found Kiev and Berlin made second and third place, while Singapore came in joint fourth place with Dubai, with 25 new retailers choosing the emirate to launch new stores.
A&F CEO to take U-turn on exclusionary clothing sizes Tuesday, 21st May 2013
Mike Jeffries, CEO of lifestyle fashion retailer Abercrombie & Fitch, has today invited a disgruntled teenager, whose petition gained nearly 70,000 signatures, to discuss how the brand can accommodate larger consumers, Forbes reports. The news comes after comments made by Jeffries in 2006 resurfaced and went viral last week.
Aldi posts all-time record share of grocery market Tuesday, 21st May 2013
The latest figures from Kantar Worldpanel show an ongoing polarisation of the grocery market, as both Aldi and Waitrose continue to make gains on rivals. Value retailer Aldi posted an all-time record share of 3.5 per cent in the 12 weeks to 12 May 2013, up from 2.8 per cent of the market last year.
Venice and Florence among destinations for Dior expansion Tuesday, 21st May 2013
Christian Dior have announced that they plan to open two new flagship stores in popular Italian holiday destinations, Venice and Florence. The French fashion house expects its Venice store to open by the end of the year, whilst the store in Florence is set to be unveiled in the Spring next year.
Urban Outfitters Inc. post record sales for Q1 Tuesday, 21st May 2013
Urban Outfitters Inc. recorded record sales on Monday, with an estimated 39 per cent increase in its earnings. Net income for the last three months ending April 30 was a reported USD 47 million, whilst earnings per diluted share were USD 0.32 for the quarter. The American retailer, which operates 400 retail locations across five brands, said that net sales for the first quarter of fiscal 2014 increased to a record USD 648 million, a 14 per cent increase from the same quarter last year.