Retail
Nordstrom expands board of directors
The Seattle-based chain of department stores has announced the appointment of Erik Sprunk, former Chief Operating Officer of Nike, to its board of directors, which has now 11 directors
Asos adds two non-executive directors to the Board
The UK-based fashion retailer has named Natasja Laheij and Jose Manuel Martinéz Gutiérrez as independent non-executive directors to its board of directors, effective as of the 11th of April
UK: Mother’s Day boosted March retail sales
Despite cost-of-living pressures and an wet weather that kept shoppers at home, Mother's Day purchases boosted spending in March. Still, overall growth fell short of inflation
Decathlon launches UK's first rental service
The sporting goods retailer has launched a rental service across all UK stores to allow its customers to stay active, overcoming barriers such as price or even lack of storage
Deichmann to invest 500 million euros by the end of the year
The shoe retailer plans to invest 500 million euros in 2023 to modernize its store network and open new ones, as well as to boost its international expansion, digitization and logistics capability
Neiman Marcus partners up with Christian Louboutin
The renowned footwear designer created a collection for the summer called ‘A La Piscine’ (‘At the swimming pool in French’) exclusively for the US-based luxury retailer’s customers
Next buys Cath Kidston
The UK-based retailer has acquired the fashion brand Cath Kidston from the administration for 8.5 million British pounds. The deal includes the brand's name and intellectual property, but not its four shops
Shoe retailer Reno declares bankruptcy
Just six months after changing ownership, the Osnabrück-based shoe retailer filed for bankruptcy amid a crisis in Germany’s footwear sector that led to a wave of insolvencies in recent months
UK retail sales volume rose in February despite an unexpected inflation hike
Retail sales volume is estimated to have grown by 1.2% last month, following a rise of 0.9% in January 2023. When compared with the same month a year earlier, sales volumes fell by 3.5%
Japan retail: unlocking consumer confidence is key for retail
The volume of footwear imports closed 2022 about 10 percentage points below the 2015 baseline, suggesting that the impact of the imported inflation on prices has been clouding the real performance of retail sales in the category. Both the government and some companies have offered inflation allowances or anti-inflation subsidies, but given the saving Japanese mindset, it can be expected that any additional disposable income will not necessarily be used for discretionary shopping, such as clothing and footwear. To boost consumption, it is therefore needed to unlock consumer confidence, which improved only marginally In February, and appears now to be flattening
Shoe Carnival sales decline
The US-based footwear retailer posted a fourth quarter and annual sales decline in 2022 over the prior year, but profits exceeded pre-pandemic levels
Amazon to cut another 9 000 jobs
The online retail giant announced that will lay off more 9 000 employees in the coming weeks, on top of the previously announced cuts that began in November and extended into January
Shoe Carnival appoints new CFO
The footwear retailer appointed Erik Gast to the role of Chief Financial Officer, effective the 24th of April. He will succeed W. Kerry Jackson, who will retire after a 35-year career with the company
UK Spring Budget fails to meet retailers expectations
British retail bodies believe the Government could have gone further to support businesses with the Spring Budget. No changes were introduced concerning VAT-free shopping, shopping hours or business rates
US discretionary retail sales dropped in February
According to Circana (formerly IRI) and the NPD Group, discretionary US general merchandise retail sales fell by 4% last month, year-over-year, and unit sales were down by 5%-
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