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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.
Overseas online sales to generate £28bn for British retailers by 2020 Tuesday, 30th April 2013
Online sales generated by UK retailers from international markets are expected to generate £28 billion by 2020, according to new research released on Tuesday. The report, by OC&C Strategy Consultants in collaboration with Google, predicts that international online sales will soon outpace domestic ones to make up 40 per cent of total online sales by 2020.
Amazon feels the heat as growth slows for Q1 Friday, 26th April 2013
Photo credit: Amazon Inc. Revenue at the world’s largest internet retailer rose 22 per cent in the first quarter, but it was a marked slowdown from a 36 per cent growth rate in the same period a year before. Shares in Amazon fell 1.9 per cent to USD 269.43 in after-hours trading on Thursday after the e-commerce giant revealed its international sales had struggled during the quarter.
Calvin Klein, Tommy Hilfiger owner PVH Corp reports better than expected results Thursday, 28th March 2013
PVH Corporation beat expectations for its final quarter, with adjusted earnings per share up 34 per cent year-on-year. That beat Zacks consensus estimate of USD 1.50 and its own guidance range of USD 1.48- USD 1.49, coming in instead at USD 1.60. Strong revenues growth and improved margins boost PVH’s fourth quarter results, which saw total revenue rise 6.7 per cent to USD 1,636.1 million compared with USD 1,532.8 million in the year before.
SPAR unveils Middle East expansion plans Monday, 28th January 2013
Spar China store. Dutch supermarket group SPAR International has announced plans to enter the Middle East with 30 stores set for the region by the end of 2015. Spar managing director Gordon Campbell on Sunday told Reuters that the retailer plans to have eight stores in Abu Dhabi, two in Qatar and one in Lebanon by the end of the year, with a further expansion into Oman and Saudi Arabia lined up over the next three years.
LK Bennett bags 15% growth in full year turnover Monday, 14th January 2013
High-end womenswear brand LK Bennett has reported a 15 per cent rise in full-year turnover, driven by a boost in sales online and internationally. LK Bennett, whose shoes are a well-known favourite with the Duchess of Cambridge, said around half of its sales came from shoes, the rest derived from clothing, bags and accessories.
Asos posts 40% rise in annual profit Thursday, 25th October 2012
Asos on Thursday announced a 40 per cent rise in year profit, with strong trading overseas managing to offset a slower domestic market in the UK. The online-only fashion retailer has long been the one to watch for its engaging ecommerce strategy, and annual figures on Thursday showed why: Asos reported back on a pro forma underlying pretax profit of £44.5 million for the year to 31 August, above analysts’ consensus forecast of £44 million, and well above the £31.7 million reached for the same period the year before.
Mulberry profit warning comes loud and clear Tuesday, 23rd October 2012
It seems not even Mulberry, the luxury leather brand who began the year reporting a 41 per cent rise in sales, is safe from a global slowdown in premium purchases. The Somerset-based company on Tuesday warned on profit, with lower-than-expected international retail sales and a steep decline in wholesale revenue.
Billabong receives another A$700m offer Thursday, 6th September 2012
Surfwear company Billabong International has received its second takeover approach this summer, with an unnamed party on Wednesday offering AUD 707 million for the brand. The rival group has now signed a confidentiality agreement and been granted due diligence, according to a report by Reuters this week.
Hermès raises targets as Birkin bags help buck downturn Friday, 31st August 2012
Named after actress Jane Birkin and a firm favourite with the fashion set since its creation in 1982, it seems the enduring allure of the Birkin bag has helped Hermès withstand the growing pressures within the eurozone, as the Paris-based group reported a rise in first-half profits.