Inside Retail

SEPTEMBER 26, 2022

Department stores globally are adjusting their product offer to reflect rapid changes in the menswear category as the impact of the Covid-19 pandemic on the category wears off. But last year menswear rebounded to its pre-pandemic levels, reaching on average 14 per cent of total department-store sales.

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Inside Retail

NOVEMBER 22, 2022

Isetan-Mitsukoshi is a storied department store chain with 15 units in Japan, including five in the Tokyo metropolitan area. One of them, the Isetan flagship in Shinjuku, boasts the highest sales of any department store in Japan. Sales at Isetan-Mitsukoshi’s Tokyo metro stores are up 33.3 billion yen, or about $2.5

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Inside Retail

AUGUST 28, 2022

Living in a building of historic importance gives one of the world’s pre-eminent luxury department store companies that extra little bit of cache — the trick now is to find ways of being a retailer of future importance, a stiff hurdle upon which so many department store companies are stumbling. Footfall was up 6.4%

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Inside Retail

DECEMBER 5, 2023

When Laura Peden was growing up in the 1970s, department stores were a special place. Decades later, she still vividly remembers how she and her grandmother would travel into Myer’s city store at Christmas to see the “insanely fascinating” windows. The department store was no longer the star attraction.

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Retail TouchPoints

JULY 5, 2024

Marking the culmination of nearly seven years of on-again, off-again negotiations, HBC , parent company of Saks Fifth Avenue and Bergdorf Goodman , will acquire another storied luxury department store brand, Neiman Marcus , for $2.65 Current Saks.com CEO Marc Metrick will become Saks Global’s new CEO.

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Inside Retail

MAY 22, 2022

First quarter results for calendar year 2022 are in for the three biggest Korean department store retailers, and the numbers are encouraging. Shinsegae, Lotte, and Hyundai account for the top nine department stores in the country (coming in at number 10 is Galleria’s high-end flagship in Seoul). trillion KRW ($2.1

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Inside Retail

SEPTEMBER 1, 2022

Shinsegae — one of the Big 3 of Korean department store retailing along with Lotte and Hyundai — has continued its great form right through into the second half of the year, helped by the removal of the country’s remaining pandemic restrictions and an increasingly buoyant mood among the country’s more affluent consumers.

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Retail TouchPoints

MARCH 29, 2021

Nike has reportedly closed its accounts with DSW , Urban Outfitters , Shoe Show , Dunham’s Sports , Olympia Sports and Big 5 Sporting Goods as the retailer pulls out of specialty retailers and department stores, according to Forbes and other media outlets. billion , accounting for 35% of gross sales, according to Forbes.

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Inside Retail

MAY 10, 2023

For once, department stores are leading a retail sales recovery instead of lagging it. Supermarkets (5,921 stores) gained 1.8 per cent but the big winners were department stores (190 of them) performing well above the average, with a 13.5 Meanwhile, Isetan Mitsukoshi’s five Tokyo-area stores had sales growth of 23.2

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Inside Retail

FEBRUARY 5, 2024

Department store chain Myer expects fiscal first-half sales and net profit to decline year over year amid a challenging trading environment. Online sales account for 21.3 The company forecasts sales to fall 3 per cent to $1.83 billion, despite online sales increasing 2 per cent to $390.1 per cent in comparable sales.

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Inside Retail

SEPTEMBER 19, 2024

Myer saw a decline in net profit in the last fiscal year due to the underperformance of Sass&Bide, Marcs, and David Lawrence, inflationary pressures, and store closures. The department store chain’s net profit fell 26 per cent to $52.6 million, which accounted for 21.6 million as sales dipped 2.9 per cent to $3.27

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Inside Retail

JULY 25, 2022

Department store group Myer says its sales will nudge $3 billion for the full year as burgeoning online sales and “positive outcome” across all metrics drove solid growth, despite the loss of trading days to Covid during the second half. Based on unaudited accounts, sales for the year will range between $2.85

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Inside Retail

AUGUST 7, 2023

Department store Myer says sales and profit are continuing to grow despite the challenging economic environment, with its online business continuing to strengthen. In a trading update issued today based on unaudited accounts, the company said it expects to report a 12.5 Online sales accounted for 20.5

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Inside Retail

JANUARY 18, 2023

Woolworth Holdings’ sale of the David Jones department-store business has cleared the way for the brands of its Country Road Group division to return to the shelves of Myer. per cent on a comp-stores basis. Flagship and CBD stores performed particularly well and online sales accounted for 17.2

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Retail TouchPoints

JANUARY 29, 2021

Unsurprisingly, ecommerce will be the most popular destination for Valentine’s Day shopping, accounting for 39% of the total. The other top shopping destinations include: Department stores ( 29% ); Discount stores ( 28% ); and A tie between local small businesses and specialty stores ( 17% each). in 2020 to $10.77

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Retail TouchPoints

NOVEMBER 4, 2020

According to McKinsey , ecommerce sales in apparel, department stores and beauty products have increased by nearly 10%, on average, since the onset of the pandemic. Digital fraud can take many forms, with the most common being account takeover ( 29.8% In 2019 , the total market share of online U.S. The result?

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Inside Retail

DECEMBER 29, 2022

Department stores and the foodservice sector drove “unprecedented” Boxing Day sales growth across Australia according to data from the Australian Retailers Association and Westpac DataX. per cent on 2021, with department-store sales of $149 million up by 23.6 billion – 8.6 On Boxing Day, Australians splurged $1.23

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Inside Retail

JUNE 30, 2021

From using non-toxic paint in stores to digitising documents to avoid paper waste, more businesses are taking steps to make their physical operations more sustainable. That includes the Japanese department store chain Takashimaya. Takashimaya opened its first store in Kyoto, Japan, in 1831, selling gofuku (formal kimono).

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Inside Retail

APRIL 20, 2022

The company will also run some 250 wholesale accounts both locally and internationally. Morris said the company’s Designworks division supplies products to department stores and discount department stores, while Shoes & Sox is the leading children’s footwear retailer in Australia, dominating the children’s footwear category in Myer.

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Inside Retail

JULY 10, 2023

Japan’s department stores bear a striking resemblance to cruise ships: they’re big, luxurious, move glacially and serve an ageing customer. Japan’s Ministry of Economy, Trade and Industry (METI) reports that department stores led the retail sales recovery through the first five months of the year. per cent gain.

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Retail TouchPoints

AUGUST 11, 2022

Plaines will lead all financial activities across the retailer, with the goal of driving best-in-class execution across functions including financial strategy, real estate, capital deployment, credit services, sourcing and procurement, treasury and accounting. Plaines is the department store retailer’s third C-level hire this year.

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Inside Retail

MAY 3, 2023

billion in stores and online, according to data from the Australian Bureau of Statistics (ABS). per cent, department store sales at 4.7 He noted other categories such as department store sales and clothing, footwear and accessories sales are “softening” as well. “It Retail spending rose 5.4 per cent year-on-year.

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VMS

JANUARY 2, 2023

More than 20 years after the Ames department store chain closed all of its stores, the retailer is mounting a comeback. The announcement, however, has been met with skepticism on account of Cross Moline Ventures having a minimal online presence in the form of an under-construction website.

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Inside Retail

MAY 17, 2023

Leasing revenue accounted for more than 90 per cent of the total, at us$1.25 One of the key issues facing Simon and other mall operators is that they are still joined at the hip to department store anchors. And one of the remaining three, Neiman Marcus, is basically an upscale apparel department store. billion ($2.03

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Inside Retail

JANUARY 24, 2022

A “particularly strong” run-up to Christmas saw department-store chain Myer achieve solid sales growth in the five months to January 1, despite the company losing 27 per cent of its brick-and-mortar store trading days due to Covid-related trading restrictions. . Online sales now account for 27.7 per cent the prior year.

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Retail TouchPoints

MARCH 7, 2024

The company’s digital business remains strong, accounting for 36% of sales in fiscal 2023. “Marketplace will allow customers to shop more products and sizes from their favorite brands while providing them more access to new and emerging brands.” over Q4 2022.

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Inside Retail

OCTOBER 4, 2022

An ongoing program of closing stores that did not meet required metrics has been offset by a 14.3 per cent increase in online sales which now account for 22 per cent of the retailer’s total sales. Lew’s supposedly last word on the proposition is that a merger of the two department store chains “doesn’t make sense”.

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Inside Retail

FEBRUARY 8, 2024

million and now account for 21.3 Myer currently operates 56 department stores across Australia, as well as its online business and in-house brands including Sass and Bide, Marcs and David Lawrence. “Our per cent, compared to the first half of the last financial year. The report revealed that online sales were $390.1

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Retail TouchPoints

MAY 20, 2022

“Loyalty to those stores used to be 100% — a top customer would go to Neiman Marcus for everything and not go anywhere else. But come 2006, 2007 we really started to see that loyalty go away, and the bigger piece of it was [that] fewer people were going into department stores overall.

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Inside Retail

FEBRUARY 24, 2022

Myer has announced the closure of its Blacktown store in Sydney’s outer west, a move that follows the reduction of footprints of five other stores across Australia. .

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Inside Retail

JANUARY 29, 2023

Department store David Jones is replacing its long-term own-brand credit-card partner American Express with Lattitude in a 10-year contract. Our financial services program is a core pillar of our service offering to our customers,” said David Jones CEO Scott Fyfe. “We Latitude has more than 2.8

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Retail TouchPoints

JANUARY 26, 2022

What does this look like in terms of design, and how does this differ from the traditional department store? Retail store design is a multi-year investment in capital, and therefore it is easier to adapt to unprecedented changes through brand communication and customer service models.

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365 Retail

JUNE 22, 2021

Unfortunately for many department stores, the pandemic has been a final blow in the battle with online retail, spiralling real estate costs and difficulty serving up physical retail that is consistently experiential, engaging and adaptable. So, what is to become of these extinct department stores?

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Retail TouchPoints

NOVEMBER 18, 2022

Consumers are most likely to purchase a restaurant ( 27% ), department store ( 26% ) or bank-issued gift card ( 25% ). over the past 10 years, with pandemic spending in recent years accounting for much of the gains. Holiday shoppers plan to purchase between three to four gift cards and spend an average of $51.47

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Retail TouchPoints

FEBRUARY 23, 2021

Macy’s Q4 and full-year 2020 results show signs of a turnaround for the department store, hard hit, like many of its counterparts, by the COVID-19 pandemic. Net income for the 13 weeks ended Jan.

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Inside Retail

JANUARY 30, 2023

per cent while department store sales increased 11.1 per cent respectively. “When you combine the strength of the record November retail sales, predominately driven by the success of Black Friday/Cyber Monday with December retail sales, this would account for a record holiday trade of $70.3 per cent and 3.5

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Retail TouchPoints

AUGUST 30, 2021

I’m not an accountant, but stores are on the asset side of the balance sheet for a reason, and they need to be leveraged as much as possible to squeeze as much out of them as you can.”. However, the department store still has work to do when it comes to its merchandising efforts.

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