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While discounts and deals will be core, the ailing departmentstore chain is also prioritizing in-store merchandising and curation to improve the customer experience. To make finding the perfect gift even easier, Kohl’s has developed a new front-of-store experience, aptly called Gift Shop, that is curated for various holiday gifting needs.
Shinsegae — one of the Big 3 of Korean departmentstore 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.
per cent increase in departmentstores and a 3.3 Despite some retailers reporting strong sales because of the growth in online sales, netprofits declined. per cent in the 2022 fiscal year supported by record online sales, which increased by 44 per cent while netprofit fell by 20 per cent.
Myer’s online sales have more than doubled since John King took over running the departmentstore in 2018, and the CEO believes they can double again to reach $1 billion in the not-too-distant future. CBD stores take a hit. CBD locations were particularly hard hit, with comparable store sales down 22.3
billion baht, and netprofit by 1.3 Among the highlights was a successful relaunch of Central Chidlom (popularly known as Central DepartmentStore) in downtown Bangkok, with a new multi-level designer wing called Luxe Galerie. Also, the portfolio still has a lot more growth potential. For the full year, revenue grew by 5.7
The new three-level, 8000sqm Luxe Galerie at Central Chidlom in downtown Bangkok is a nice job and does a lot to modernise a store that was beginning to flirt with obsolescence. Fifty and counting Central Chidlom, located on Phloen Chit Road near the commercial heart of the city, first opened way back in 1973.
The viability of the two iconic departmentstore chains, Myer and David Jones, has been seriously analysed and debated since a merger proposal by Myer was revealed in 2014. The financial collapse of traditional US and UK departmentstores and the impact of the pandemic has increased industry scrutiny on Myer and David Jones.
They include the refurbishment of its store network, the rollout of its national distribution centre , and the relaunch of Country Road Group in July this year. billion, while netprofit after tax grew by 101.4 It’s no use having 70 stores, if 20 are consistently making a loss. per cent to almost $1.85
After a blockbuster first half that saw netprofit soar 46.5 The company’s stores in CBD locations and large shopping centres have continued suffering compared to before the pandemic, with sales down 12 per cent compared on a 48 week period to 30 May.
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