Archive

Tag Archives: retail

56450927112314aa008b4b25-1072-804

Gap, JCPenney, and Victoria’s Secret announced more than 300 store closures over the course of 24 hours this week.

All three companies reported declining same-store sales during the critical holiday period.

Gap, JCPenney, and Victoria’s Secret announced more than 300 store closures over the course of 24 hours this week, sending a clear signal that the fallout from the retail apocalypse is far from over.

Gap said Thursday that it would close 230 namesake stores in the next two years, as it reported that the brand’s same-store sales fell 7% during the holiday quarter. The company also said it would spin off its Old Navy brand.

Earlier in the day, JCPenney said it would close 27 stores in 2019, including 18 full-line department stores and 9 home and furniture stores. The department store chain said same-store sales fell 4% during the fourth quarter.

Victoria’s Secret’s same-store sales also fell during the holidays, dropping 3% during the quarter. The company said late Wednesday that it would close 53 stores this year, citing a “decline in performance.”

Foot Locker announced Friday that it plans to close around 165 stores across the country, during its investor call.

These announcements will bring the number of planned store closures this year to nearly 4,500.

Advertisements

Stefano Gabbana (left) Domineco Dolce (right)

ROME (AFP) –  An Italian court Wednesday sentenced fashion house duo Dolce and Gabbana to one year and eight months in prison for tax evasion of around one billion euros ($1.33 billion), according to media reports.

Lawyers for Dolce and Gabbana, whose celebrity clients include Beyonce and Madonna, immediately said they will be appealing, and under Italian law the sentence will be suspended in the meantime.

Domenico Dolce and Stefano Gabbana were accused of having transferred control of their brands to a shell company in Luxembourg in 2004 and 2005 to avoid paying Italian taxes.

Prosecutors had argued that setting up the Luxembourg company Gado — an acronym of the surnames of the two designers — while the company was operating out of Italy was a bid to defraud the state.

Investigators completed a probe into the designers, as well as five other people, in 2010 and the case was dismissed in April 2011 but reopened in November last year and went to trial.

Founded in 1985, Dolce and Gabbana employs more than 3,000 people and has 250 shops in 40 countries around the world.

20120220-093516.jpg

Louis Vuitton has opened a floating store with the help of Boston based architect Moshe Safdie and New York designer Peter Marino. The store will operate as its own island in Singapore, floating in the Marina Bay Sands complex; looks like an inspiring shopping experience to say the least. Checkout more pics after the jump. Read More

20120209-091342.jpg

(Bloomberg) — Google Inc. may open its first stand- alone retail store at its European headquarters in Dublin, according to a filing by the world’s most popular search engine.

The Google Store would be open to the public and sell unspecified “Google merchandise,” Google’s Irish unit said in a local planning application. Located in Dublin’s Montevetro office block, the shop would include about 123 square meters (1,323 square feet) of space with an added mezzanine floor extension.

“While we do have the option to open retail space, we are examining all potential uses,” the Mountain View, California- based company said today in an e-mailed statement. “No final decision has been taken.”

Retail may be a new front in Google’s competition with Apple Inc., whose 361 stores have fueled sales of iPods, iPhones and iPad tablet computers. Google, the world’s biggest maker of smartphone operating software, is in the process of buying handset maker Motorola Mobility Holdings Inc. for $12.5 billion to help it compete with Apple’s phones and Microsoft Corp.’s mobile software.

Read More

20111127-223334.jpg

Retail sales break records, Cyber Monday up next.
This year’s sales were up to $52 billion from $45 billion last year, the National Retail Federation said Sunday. A record 226 million shoppers visited stores and websites over Black Friday weekend, up from 212 million last year. The average holiday shopper spent about $400 over the weekend, up from $365 last year.

20111127-223310.jpg

Grand Apple store

Apple’s largest retail store is under construction in Grand Central Terminal in New York City. It takes up an entire mezzanine level at one end of the grand hall. Currently, the construction site is boxed up and draped in black, they added a large digital sign with lettering that flips just like the signs showing the latest trains and tracks above the ticket booths.

The store was supposed to open in time for Black Friday, but now it looks like it won’t be ready until December 9. When it does open, it will be the largest Apple store in the world, with 23,000 square feet and 300 employees.

 

%d bloggers like this: