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Selfridges to launch world's first ever fashion drive-thru Wednesday, 8th May 2013
Photo credit: Selfridges
Selfridges has confirmed that it will be introducing its new service called ‘drive-thru’, a first of its kind, next year. The service will allow customers to order goods online and collect them via 'drive-thru' at their designated collection point without having to leave their car.
A drive-thru reception is under construction at Edwards Mews, Oxford Street where customers will wait in their vehicles while a member of Selfridges’ staff collects and brings them their order.
The company's multi-channel director Simon Forster said:
"There will be a dedicated area providing the level of service you would expect from Selfridges. It will not just be the first drive-thru service, it will be the best."
The service is expected to be launched in January 2014 along with other innovations such as ‘text message service’ which will ensure that deliveries to home addresses are made only if someone is able to receive them.
Kookai departs UK Monday, 29th April 2013
Kookai is pulling out of the United Kingdom after the flagging retailer initiated a solvent liquidation of its UK-based assets. This move was ordered by its French owner, Vivarte Group, which is attempting to stem losses from its international businesses.
Asher Miller, partner and insolvency practitioner at David Rubin & Partners, told Insolvency News: “Kookai is currently restructuring and we were instructed by the French shareholders to wind down the UK operation. The company is retrenching back to France and withdrawing from the UK. The final payments to creditors have been made.”
The womenswear business has been struggling to make a profit at its UK arm for several years and its last set of public results revealed a 24.6 per cent sales dip for the year to 27 August. Pre-tax losses hit £2.5 million for the period.
Debenhams braces for sales dip after long winter Monday, 15th April 2013
Image courtesy of Debenhams
Debenhams attributed its poor performance to the recent prolonged winter as it issued a shock profit warning last month. The department store chain was forced to slash prices of clothing as two weeks of heavy snow hit consumer spending across the UK.
Debenhams is expected to report a first-half profit drop from £127 million to £120 million, despite like-for-like sales growing by around three per cent.
Next to reveal £600m profit Monday, 18th March 2013
Image courtesy of Next
Next is set to report annual profits of around £618 million, up seven per cent on last year’s result.
The fashion retailer reported a 0.8 per cent rise in sales for November and December.
An 11.2 per cent increase in online sales was the main source of growth, putting the business on track for a four per cent rise in total annual sales to £3.5 billion.
French Connection braces for market update Monday, 11th March 2013
Image courtesy of French Connection
French Connection is to update the market with details of last year’s losses on Wednesday.
Investors will be scanning for signs of an uplift at the business after it vowed to update ranges, sharpen prices and cut loss-making stores following a full review of its UK arm last year.
Analysts are expecting a pre-tax loss of £7.8 million.
French Connection, which reported losses of £8.3 million in 2011, made a half-year loss of £6.3 million in September.
Rihanna launches first collection for River Island Tuesday, 5th March 2013
Aurora considers spinning off Coast brand Tuesday, 19th February 2013
Photo credit: Coast
Aurora Fashions is believed to be considering making its Coast brand an independent company as it looks to secure the long-term prospects of its formal womenswear label.
If the move went ahead, Coast would follow in the footsteps of its former sister brand Karen Millen, which was made an independent entity in 2011.
According to the Independent, Aurora Fashions has no imminent plans to start a sale process for either Coast or Karen Millen, but it’s thought the development of its womenswear brands will help the group to sell them in the future.
Coast currently operates 52 standalone stores and 185 concessions in the UK and Ireland, along with 147 international locations.
Creative director Simon Holloway leaves Jimmy Choo Thursday, 7th February 2013
Simon Holloway has parted ways with luxury fashion and accessories retailer Jimmy Choo Ltd, leaving co-founder Jimmy Choo’s niece Sandra Choi as its sole creative director.
Holloway began working for Jimmy Choo Ltd in 2010 and had worked alongside Sandra Choi ever since co-founder Tamara Mellon left the company in November 2011. However, Holloway has now decided to leave the position to focus on interests elsewhere.
Sandra Choi is now the company’s only creative director and will be fully in charge of designing its range of menswear, womenswear, accessories and handbags.
Jimmy Choo Ltd was founded by Jimmy Choo in 1996 and has become a popular fashion company, with numerous celebrities choosing to wear products from its clothing range.
Dior opens 8,072-square-foot Australian store Friday, 1st February 2013
The enormous store, which will now serve as Dior’s flagship store in Australia, was officially opened last night.
Dior already operates a number of boutiques in Australia but the flagship store which opened yesterday will stock a far greater range of Dior’s clothing, accessories, jewellery and other products than was previously available in Australia. It is surprising that it took so many years for a flagship Dior store to open in Australia, as Australia was the first country to present Christian Dior’s fashion designs outside of France back in 1948.
Chief executive Sidney Toledano is optimistic about further developments for Dior, stating ““Who knows, maybe Avenue Montaigne will become bigger, other locations will become bigger”. Toledano is reportedly already planning to create another similar boutique in Australia within the next few years. Dior has already seen rapid expansion in the region of Asia and Australia over the last few years, including the construction of a gigantic 19,410 square foot boutique within the Taipei 101 building, while three further flagship stores are scheduled to open across Asia before the end of 2013.
Dior has seen significant success and growth in the Australian market during the last few years, a trend which will surely continue with the opening of the new store.
Disappointing sales may result in Fifth & Pacific selling Juicy Couture Friday, 1st February 2013
Image courtesy of Juicy Couture
Clothing brand Juicy Couture, a popular brand among teenage girls, has been struggling and there is speculation that its owner, Fifth & Pacific Cos, is planning to place it up for sale.
Sales of Juicy Couture brand products have been disappointing over the last year. During the fourth quarter, sales of Juicy Couture’s products fell by 2 percent. These figures are not expected to improve during the next quarter. In contrast, sales of Kate Spade brand products, a brand which is also owned by Fifth & Pacific and whose products are sold through the same stores, increased by 27 percent.
Juicy Couture’s recent struggles were discussed earlier this month by the CEO of Fifth & Pacific, Bill McComb, who stated "This has to be the year where Juicy finds stabilization”. With a change in the brand's fortunes not currently expected, it is unsurprising that there is speculation about the possibility of it being sold.
Juicy Couture still maintains market popularity in Asia, leading some to predict that the brand may be sold to an Asian company.