Macy’s cut its full-year earnings forecast on Wednesday after missing estimates for quarterly profit for the first time in at least two years, as it discounted merchandise heavily to clear spring inventory.
Middle Eastern tourists are expected to boost UK luxury retail this summer with a particular interest in British brands. That’s according to Global Blue, which predicted a 16% rise in transactions by Gulf visitors.
Prestige skincare brand Murad has launched a traveling California pop-up in honor of the brand’s 30th anniversary, featuring experiential touchpoints like meditative sound baths and skin consultations.
Luxury global search engine Lyst said Tuesday that seven key travel destinations are inspiring consumers’ searches for their summer wardrobes and they’re making an impact on their shopping baskets and Instagram feeds.
In the third episode of the LuxurynsightXFashionNetwork.com podcast series, Godfrey Deeny talks with Galeries Lafayette’s former international marketing manager about the new expectations of Chinese consumers.
This week’s launch of Eataly in the hip Paris neighbourhood of the Marais by the Galeries Lafayette group marks an important new chapter for the high-end French retail group – its entrance into the experiential era.
The UK may be suffering from consumer caution on the part of local shoppers, but international visitors who are eligible to claim VAT refunds are continuing to boost turnover in key shopping destinations.