New report finds the North-west the worst struck for empty stores, despite an overall improvement for vacancy rates.
Samsung Electronics Co Ltd revealed on Friday that it had missed modest expectations for its quarterly guidance, compounding concerns that its smartphone business may be struggling to compete with new rivals. The release of Samsung’s flagship Galaxy S phone in 2012 launched the South Korean firm into the lead position of smartphone makers for the year, overtaking industry behemoth Apple Inc.
Dixons Retail on Thursday reported like-for-like sales in its final quarter rose 13 per cent in the UK and Ireland, as strong demand for tablet computers continued. The electrical goods retailer, which also operates Currys, PC World and Dixons Travel, is now expecting year profit to come in at the top end of market expectations.
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.
The Italian fashion power house reported a 36 per cent rise in net profit for the fourth quarter to EUR 217 million, as it focuses its next stage of global expansion on the Middle East and the Americas. Prada SpA managed to beat the average forecast for its final quarter to 31 March, which was set at EUR 202 million in a poll by Thomson Reuters I/B/E/S.
Set to make its UK debut on the King’s Road next month, French children’s wear label Jacadi will add another store to its expansion plans, having signed on an additional property in Knightsbridge. Taking on a new 10 year lease, Jacadi’s new store operates across three floors on Brompton Road, joining Harrods, Burberry and Massimo Dutti at one of London’s most prestigious shopping locations.
Swedish multinational company Hennes & Mauritz will open its first store south of the equator in Chile for early 2013. As the world’s second largest clothing retailer behind Inditex, H&M is thought to be keen to expand into new regions, after previously focusing its efforts on Asian and North American markets.
South Kensington is the latest area in London to be caught up in a bidding war amongst luxury retailers keen to grab a retail location, whatever the price. The latest deal at 48 Pelham Street, at the junction of Brompton Cross, has set a record for rent in the area. American designer Caroline Herrera successfully outbid rivals for the lease of the 2000 square foot store.
Samsung Group will raise its 2012 investment to a record £26.9 billion, accentuating the divide between the dominant South Korean group and its struggling competitors. For the year ahead Samsung is hoping on logic chips and OLED displays to repeat the roaring success of flash chips, computer memory chips and LCD flat-screens of previous years.
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