Ongoing underperformance at its Australian operations has led to the exit from his group post of Woolworths Holdings’ CEO Ian Moir, the South African company replacing him with an executive from Levi Strauss.
Genesco’s struggling British footwear chain Schuh has reportedly called in a consultancy group, Capa, to examine ways of cutting its rental bill. It has also been working with its long-term adviser KPMG on options.
Woolworths Holdings has launched a limited edition makeup line in collaboration with Beyonce’s makeup artist Sir John on Thursday, seeking to strengthen its private label brand in its first international collaboration.
Shares in South African retailer Woolworths slid to a six-year low on Thursday after it reported a 3.5 billion rand annual post-tax loss, hurt by a hefty write-down on the value of its David Jones business in Australia.
The problems currently being endured by Australian department store operators have come into even sharper focus as upscale retailer David Jones has axed 16 senior staff with its fashion MD having been terminated