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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.
Net profit up 103% as Ferragamo goes from strength to strength Tuesday, 14th May 2013
Salvatore Ferragamo Autumn/Winer 2012 campaign. Luxury Italian fashion house Salvatore Ferragamo revealed a 103 per cent growth in net profit for its first quarter of 2013 to EUR 24 million, compared to the same period a year before. The Florentine company reported a 9 per cent rise in turnover for the quarter to EUR 282 million, and a 29 per cent increase in EBITDA to EUR 39 million.
Hong Kong continues to demand world’s priciest retail rates Monday, 13th May 2013
Hong Kong held its place as having the world’s highest rent for prime retail properties in the first quarter, demanding almost 50 per cent more than property in comparable locations worldwide. According to a report by CBRE Group Inc., rents in Hong Kong were more than four times those in similar locations for London and Paris, with annual retail rent in high-end shopping areas in the Chinese metropolis averaging at USD 4,328 per square foot.
Wealth funds poised to snap up £500m Bluewater stake Monday, 29th April 2013
A number of sovereign wealth funds are said to be interested in purchasing Lend Lease’s stake in the Bluewater shopping centre in Kent. Based in Australia, infrastructure firm Lend Lease is thought to be considering the sale of its 30 per cent stake in a deal that could be worth £500 million.
Samsung creeps in on Apple’s share of smartphone market Friday, 26th April 2013
Samsung Electronics Co Ltd managed to move in on rival Apple Inc.’s market share in the latest quarter, as sales of its phones rose to account for one third of the global market. Research from IDC found sales of the iPhone 5 helped Apple’s volumes grow 6.6 per cent to 37.4 million phones in the quarter from a year before, but it wasn’t enough to stop its share of the market falling to 17.3 per cent from 23 per cent.
Christian Dior SA celebrates 14% rise in sales Monday, 4th March 2013
Jennifer Lawrence stars in the Miss Dior Handbag campaign. Christian Dior SA, parent company of the Dior fashion house and LVMH Moët Hennessy Louis Vuitton reported a 14 per cent on-year rise in sales to EUR 22.81 billion in the nine months to the end of January. Sales of Christian Dior Couture rose 19 per cent to EUR 971 million in the nine months from 1 May 2012 to 31 January, while Dior continue to expand its retail network, growing by 24 per cent for the period and boosted by all product categories.
Decline in demand for retail space set to continue Tuesday, 29th January 2013
The high street suffers another blow as new research forecasts further falls in rental values. A survey released on Tuesday by the Royal Institution of Chartered Surveyors’ (RICS) found a 13 per cent fall in the net balance of businesses looking to rent retail premises in the final three months of 2012, after an 18 per cent fall in the previous quarter.
Beales department store group in finance talks Friday, 25th January 2013
Bournemouth-based department store group Beales is said to be in talks concerning the reorganisation of its finances. According to reports by Mark Kleinman at Sky News, Beales could be nearing a deal which is thought to involving switching its banking business away from HSBC. PricewaterhouseCoopers is said to be advising Beales on the refinancing following a tough year of trading, which saw the retailer lose nearly £1 million in the half-year to April 2012.
Apple’s profits expected to decrease for the first time in a decade Wednesday, 23rd January 2013
The release of Apple’s first quarter reports next week is expected to reveal the company’s first decrease in profits since 2003. Apple’s profits have been continuously rising over the past 10 years, ever since the company decided to focus on the production of digital music players and subsequently mobile phones.
Dixons Retail like-for-likes up 3% Thursday, 29th November 2012
The Currys and PC World owner saw its UK and Irish operations return to profit for the first time in five years as like-for-likes rose 3 per cent for the first half. After a summer of sport helping boost the sale of big ticket items including televisions, Dixons Retail on Thursday revealed like-for-like sales rose 3 per cent in the 24 weeks to 13 October.