UK department stores have become an endangered species. The country has lost 83% of its main department stores since the collapse of the BHS chain in 2016, reflecting how hard the high street has been hit.
Capri Holdings had big news on Tuesday as it announced a new CEO — Joshua Schulman — for Michael Kors. But more importantly, he'll take over as group CEO from John D Idol next year. Idol will become executive chairman.
There was some good news coming out of Marks & Spencer for once on Friday as it upgraded its profit outlook after shoppers went online to buy more of its revamped clothing offer and also bought plenty of its foods.
British supermarket and general merchandise retailer Morrisons has agreed a takeover offer worth £7 billion from US private equity group Clayton, Dubilier & Rice (CD&R), dropping its recommendation of a lower bid
Amazon.com Inc is planning to open large physical shops in the United States that will operate like department stores, the Wall Street Journal reported on Thursday, as the e-commerce giant expands its stores footprint.
U.S. shoppers returning to stores ahead of the back-to-school season helped Target forecast higher same-store sales growth after beating quarterly estimates, even as online demand sharply dropped from pandemic highs.
Walmart Inc increased its annual U.S. same-store sales forecast after beating analysts' estimates on Tuesday, as shoppers coming out of lockdown bought more clothes, travel gear and back-to-school merchandise.
Australian retailer Myer Holdings has forecast an annual profit for fiscal 2021, compared with a loss it reported last year, helped by a surge in e-sales and benefits from government support schemes and rent waivers.
Saks Fifth Avenue owner Hudson’s Bay Co will convert parts of some department stores into co-working spaces managed by office-sharing start-up WeWork, at a time when many employees are negotiating remote-work policies.
Joules reported its annual results on Tuesday and talked of a “strong performance underpinned by continued digital growth, the strength of the Joules brand, and increasing diversification of revenue streams”.