Shares in Nordstrom Inc slumped 9 percent after the U.S. department store operator reported disappointing same-store sales and said it had been forced to refund some of its credit card customers after overcharging them.
Struggling Debenhams is under even more pressure as its shares continued their downward trajectory on Thursday, falling almost 9% in the first couple of hours after the markets opened to trade at less than 5p each.
John Lewis has unveiled its Christmas ad with the big reveal of what has come to be the most anticipated UK festive campaign being less of a surprise this year given that Elton John’s involvement was flagged in advance.
Hong Kong has taken over from New York as the city with the most expensive street as far as retail rents are concerned but Paris and London rents are growing fastest for luxury labels, two new reports show.
Asians catching up on the West’s obsession with health and wellness is a trend that has created attractive investment opportunities, Ravi Thakran, a regional LVMH boss, told a luxury conference on Tuesday.
House of Fraser boss Mike Ashley’s wish to keep open as many of the beleaguered department store chain’s branches as possible could come to nothing with reports that a raft of new closures are about to be announced.
October’s high street sales in the UK continued to be sluggish and while retailers might have been hoping to reverse October 2017’s 5.2% fall, a like-for-like drop of 2% this time meant they didn’t get their wish.