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J C Penny changes senior management structure

J C Penney Inc, one of the US’s largest apparel and home furnishing retailers, has announced few shuffles in the company’s organizational structure. Ken Mangone, with 39 years of commendable service as EVP, product development, design and sourcing will be taken over by John Tighe. Val Harris, who was the former vice-president of product development, design and trend for women’s businesses, has been promoted to senior vice president, product development and design. Harris will be […]

February 16, 2016

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Tesco announces 3.1% pay hike for UK store staff

Tesco has recently announced a 3.1 per cent pay hike for all its UK stores employees. The hourly pay rate has gone up to £7.62 per hour. This rate is significantly higher than the Government’s new National Living Wage of £7.20 per hour. This pay hike is being seen as one of the highest pay and benefits packages in retail that will benefit Tesco employees. The deal will come into force from July 3, and […]

February 3, 2016

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KappAhl hosts sustainability contest for textile, fashion students

As part of KappAhl’s contribution to the development of sustainable designs, the brand has launched a contest — KappAhl Sustainable Design Contest – to challenge fashion and textile students to create innovative and sustainable design solutions. Explaining the idea behind the contest, KappAhl’s Head of Design, Paul Laing said, “The competition is part of KappAhl’s contribution to the development of ways of working towards sustainable design and manufacturing.” KappAhl, a leading fashion chain in the […]

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Falabella plans to invest $4 billion in Latin American Expansion

In a bid to strengthen its position in Latin American countries including Peru, Colombia, Argentina, Brazil and Uruguay, Chile’s biggest retailer Falbella has announced to invest $4 billion in the region. Out of the total funds to be invested, 44 per cent will be used for opening 131 stores and 10 shopping centres, while nearly 26 per cent will be used for remodelling of the existing locations and a further 33 per cent will be […]

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‘Fashion’ gives TARGET an edge

US-based retailer TARGET is drawing more visits at its stores than before with fashionable products garnering attention… TARGET has reported dip in profits in the recent time. Its earnings plunged 34 per cent to US $ 1.97 billion in the fiscal year ended in January 2014, but zoomed 24 per cent to US $ 2.45 billion in its fiscal year that ended in January 2015. Total revenue dived 1 per cent during the year and […]

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Marcella folds out its brick & mortar stores; E-commerce arm to continue flourishing

Marcella, a Singapore-based bespoke tailoring start-up, will be closing down its physical stores by January 1, 2016; the retailer announced in a Facebook post. The move comes following Marcella’s acquisition by an international made-to-measure group since the physical stores do not fit into the company’s growth strategy. However, the online store will remain operational. Before the shutdown, Marcella is offering 50 per cent discount for all ready-to-wear items. It added that customers with outstanding cash […]

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Walmart to close 30 stores in Brazil

Walmart has planned to close down 30 stores in Brazil next year. As per a report, net sales in Brazil decreased by 0.4 per cent in the third quarter of the current fiscal. Industry analysts observe that Walmart has over the past four years cut prices that along with rising wages and operating costs have eroded profitability. Struggling to match the competitive-level in Brazil, which is Latin America’s largest economy, the world’s leading retailer has […]

December 25, 2015

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Dollar General Releases Q3 Earnings Report

Dollar General, the US chain of variety of stores, recently announced its quarterly earnings report. All merchandise categories delivered positive same-store sales growth. The same-store sales increased 2.3 per cent in the third quarter of the current FY compared to third quarter last year, with increase in both customer traffic and average transaction value. Dollar General’s gross profit has increased by 9.1 per cent. Key factors impacting the increase in ‘per store inventory’ were the […]

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Mothercare to open Dark Stores in India; reports surge in profits

Mothercare is reportedly planning to open its Dark Stores in India. Dark Stores – a warehouse that facilitates a ‘click-and-collect’ service for customers to collect an item they’ve ordered online. The retailer is also aiming to set up small format stores in India as part of its expansion strategy. The new stores would be opened through – franchisees, dealers and distributors. Founded in 1961, Mothercare inked JV with DLF Brands five years back to offer […]

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Rise in Minimum Wage may Hit Turkey’s Exports

Government of Turkey, as a part of their election campaign, pledged for a minimum wage hike to US $ 461. The Government is planning to implement the same from January next year. Soon after the decision, there was hue and cry over its impact across various industries, including textiles and apparel. Big retailers such as Carrefour SA and other companies are more worried because the hike in wages will hit them the most. The retailers […]

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Travel retail growing in leaps and bounds

A growing number of people are travelling far and wide giving impetus to the sales of many retailers who are emphasising more on mono-brand stores in duty-free shops such as airports. According to Generation Forecast, travel retail market should double in the next 10 years to reach US $ 100 billion. No wonder, retailers are giving due importance to travel retail in their branding strategy, and positioning themselves to capitalize on this increasing market. In […]

November 18, 2015

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JCPenney releases same store sales report for third quarter

The US-based retail major, JCPenney reported an increase in same store sales by 6.4 per cent for the third quarter, which ended on October 31, 2015 as compared to the same period last year. In its recent announcement of its financial results for the third quarter, the company reported net sales of US $ 2.90 billion as compared to US $ 2.76 billion in the third quarter of 2014. The top performing divisions of the […]

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Gildan Activewear updates full year guidance; releases Q3FY15 results

Gildan Activewear Inc. has released results for the three months ended on October 4, 2015, and updated its sales and earnings guidance for 2015. Adjusted diluted EPS for Q3 was in-line with the company’s previous guidance. Outcomes for Q4 are projected to be suggestively in excess of earnings in the fourth quarter of any prior year. Also Read – Gildan Activewear included in Dow Jones Sustainability World Index for third consecutive time Gildan Activewear’s net earnings of […]

November 16, 2015

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Forecast for holiday season sales upbeat

Yet again it’s that time of the year when retailers come out at large with various marketing tactics and a horde of promotions to make up for their year-end gains. Not something to ignore, the holiday season is here and US retailers gear up to strike a sale amidst the still conscious consumers and the recovering economy.  According to Deloitte, the latest retail holiday sales forecast is projecting as much as US $ 965 billion […]

November 13, 2015

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Straight from the shoulder!

Broad, cold, exposed or padded – shoulder detailing is the rage of this season. Following the cut-out back trend, shoulders have also become a main area of experimentation. Emerging as one of the biggest trends in S/S ’16 runways – cutout, exposed and offthe-shoulder necklines also dubbed as ‘the cold shoulder’ are being seen in varied interpretations by designers. This season, the overall cutout trend has been taken a step further to highlight just the […]

November 13, 2015

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