All Retail articles – Page 42
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News briefs
Legero United opens biggest store at its new headquarters in Austria
Legero United, the Austrian-based footwear group that markets brands such as Legero, Superfit, Vios and Think, has opened its biggest store at its headquarters in Feldkirchen, Graz. The company opened the Legero United Campus at the beginning of this year, investing about €30 million. About 350 employees have moved into ...
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ArticleCaleres to accelerate store closures as e-commerce surges
The Covid-19 pandemic has led to a dramatic surge in the importance of e-commerce in Caleres’ sales, representing about a third of the company’s revenues in its fiscal first quarter, and prompting it to accelerate the closure of some 160 stores by the end of 2021.
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News briefs
McArthurGlen to launch rent relief package for its retail partners
McArthurGlen, the international operator of designer factory outlet centers, has launched a rent relief package for its retail partners until the end of this year. The group is waiving all minimim base rent, turnover-based rent and marketing charges for tenants in all of its centers that were closed from April ...
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News briefs
Germany’s VAT cut may hit retailers across the border
Germany decided on June 3 to reduce the value-added tax (VAT) rate on non-food products to 16 percent from 19 percent, starting from July 1 and through the balance of this year, to give a boost to consumption and the economy. It has also cut the VAT rate for restaurants ...
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News briefs
Görtz calls for sales-related store rental contracts
According to a German trade magazine Schuhkurier, Görtz is asking for more flexible rents for the shoe retail industry. The Hamburg-based shoe retailing company, which has already reopened all of its 180 stores in the country, is calling for an adjustment of rental costs following the retail lockdown due to ...
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News briefs
Schuhe24 to connect its retailers with another platform
The Schuhe24 group, the German-based company that owns and manages the Schuhe24, Outfits24, Sportmarken24 and Taschen24 online marketplaces for independent shoe, sporting goods and fashion retailers, has joined forces with Locamo, another German-based company that manages regional online marketplaces. It currently offers about three million products, including books, textiles, beauty ...
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News briefs
GMS offers to renegotiate rents for its members
Introducing a new service, GMS, the German voluntary group of shoe retailers, is offering to renegotiate rents with landlords on its members’ behalf. GMS would coordinate each single procedure beforehand with its members and would then take over the negotiations, if so desired. Many independent retailers have managed to obtain ...
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News briefs
La Halle’s administrators set June 9 deadline for bids
The court-appointed administrators supervising La Halle have set, in agreement with the company’s management, a June 9 deadline to present bids for the company or its assets. A Paris-based commercial court also placed the company into receivership to allow it to be sold piecemeal. Previously, La Halle had been placed ...
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News briefs
Aldo UK enters administration
Canadian footwear retailer Aldo Group said its UK arm has been placed into administration, due to profitability problems and a collapse in retail spending amid the Covid-19 pandemic. Five of its UK stores have been permanently closed, while the eight remaining ones have been handed over to administrators who will ...
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Article
Primark is awash with stock but does not plan aggressive discounting
The Irish fast fashion retailer Primark, which is owned by Associated British Foods (ABF), is carrying very high stock levels as it accelerates its store openings. Nevertheless, it believes it will be able to sell the goods without special discounting.
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Article
Up to half of Moscow’s shoe stores may not reopen
Between 35 to 50 percent of Moscow’s footwear stores are likely not to resume trading after the lifting of the lockdown in the Russian capital due to the impact of the economic crisis and online competition, according to the local think tank Fashion Research Group. Moscow introduced a lockdown on ...
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News briefs
French clearance period pushed back to July 15
The end-of-season clearance period in France will start on July 15, rather than June 24, to satisfy a request by small retailers whose stores were closed during the coronavirus-related lockdown and could not sell the current spring/summer collection at full prices, according to the economy minister, Bruno Le Maire. Unlike ...
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ArticleVietnam promotes footwear exports to U.S. as its industry suffers
For the first time, an interactive video conference was held in Washington D.C. on May 27 to connect Vietnamese footwear manufacturers and U.S. distributors and retailers.The initiative comes as the Asian’s footwear industry is suffering severely from the drop in demand stemming from the Covid-19 pandemic. The conference entitled “Promoting ...
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ArticleWGSN sees three major consumer groups emerging from the crisis
The coronavirus pandemic has accelerated societal changes and is forcing industries worldwide to adapt to the resulting changes in consumption. Thus, WGSN has set out to predict what consumers will be looking for in the next couple of years.
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Article
Macy’s’ credit rating downgraded to ‘BB’ by Fitch
Macy’s credit rating was cut by Fitch, as, like many other American department stores, the retailer suffered from coronavirus-related lockdowns and has seen its leverage increase.
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Article
UK stores look to June 15 reopening with concern
The UK’s non-essential retailers are getting ready for a June 15 reopening date, after retail sales volumes tumbled in the wake of lockdown measures imposed to slow the spread of the Covid-19 outbreak. But, shopkeepers are concerned about the business environment, and more than a third of women and youth ...
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Article
Italian retailers face huge downturn, slow recovery
The Italian non-food retail sector risks losing a fifth of its businesses by the end of the year and nearly half of its revenues without financial help and government support to stimulate the economy. The sector could also take more than eight years to return to pre-Covid-19 levels, according to ...
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News briefsFoot Locker closes its German Runners Point chain
Foot Locker said it “intends to consolidate our Runners Point business into our other operations in Europe,” after a year-long assessment of the this chain of running stores, which it had bought from Karstadt in 2003, and the competitive landscape in Europe. The company subsequently indicated that about 35 of ...
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ArticleMicam has industry support for September edition and prepares a B2B site
The organizers of Micam confirmed plans to hold the trade fair on Sept. 20-23, indicating that 75 percent of the Italian and international companies surveyed believe that the Milan-based event is an essential element to relaunch the industry. Micam also plans to launch a B2B platform.
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