House of Fraser is to get a new owner after calling in administrators Friday. A fast deal to buy a slimmed-down version of the chain had been on the cards with news Friday that retail tycoon Mike Ashley is now in charge.
It may have been a balmy summer in the UK so far, but consumer confidence has been decidedly cool and the latest figures from GfK on Tuesday showed just how weak sentiment has been.
The legal action being brought by House of Fraser landlords is set to delay the struggling retailer’s CVA and means that the £70 million cash injection that the firm is getting from its new owner could be delayed too.
The US-based e-commerce marketplace has announced improvements to its image search function which now allows consumers to look for products by dragging and dropping an image into the search bar.
Intu made a loss in the first half and footfall dipped slightly to its malls but the company remains upbeat as its properties look well placed to prosper during an upturn.
A casualty of Hammerson's change of direction (as well as the weak market for bricks and mortar stores) is the mall giant's plan for a massive expansion at Brent Cross that has now been indefinitely deferred.
Joules continues to go from strength to strength at home and abroad with e-tail, stores and wholesale all strong and womenswear outperforming as customers are won over by its country living outlook.
A group of House of Fraser landlords who feel they have been treated unfairly are not giving up the fight easily and are planning to go to court over the troubled retailer’s rescue plan.
Amazon.com reported its busiest ever 36 hours on Prime Day, with customers buying over 100 million items worldwide, while on its home market, Target also struck gold with its own rival sale.
Thousands of workers will walk off the job on Tuesday at Amazon warehouses in Germany to demand better working conditions, joining colleagues in Spain and Poland in taking action.
A key monthly UK retail report for June seems to show that British shoppers are still turning away from physical stores and that a slight recovery seen in June in year ago was just a flash in the pan.
Abercrombie & Fitch has entered into a global partnership with Sbe, the lifestyle and hospitality company behind nightclubs, hotels and restaurants such as SLS Hotels, Mondrian, Umami Burger and Doheny Room Skybar.
The Great, the Americana-influenced apparel brand created by Current/Elliott founders Emily Current and Meritt Elliott three years ago, has opened its first boutique in West Hollywood on Melrose Avenue.
JCPenney is opening a second Brooklyn location at Kings Plaza next month. The new store joins the first Brooklyn location which opened in 2014.
Amazon has announced plans to open a new 1-million-square-foot fulfillment center in Ottawa, Canada. This is Amazon's fifth Ontario fulfillment center and will bring 600 new jobs to the local economy.
