Luxury department store Lane Crawford is taking a deep dive into sustainability as surveys show that consumers are increasingly judging (and patronising) retail and brand businesses based on their ethical approach.
Tiffany & Co’s sales in the United States and Hong Kong took a hit in the latest quarter as Chinese tourists spent less than expected, sending the jewelry maker’s shares down nearly 8 percent on Wednesday.
As store sales fall and purchases shift online over the Thanksgiving weekend, most U.S. retailers have boosted their web offerings but many still overlook the sales impact from opening their doors on Thursday evening.
John Lewis had a much better time of the seven days to November 24 than recently with its parent company seeing sales up 4.2% to almost £380 million but the department store chain and its webstore leaping ahead by 7.7%.
Major London landlord Shaftesbury saw its portfolio value rising in the year to September as it shrugged off the wider UK retail downturn due to higher rents and its strength in areas such as Covent Garden and Carnaby.
This year’s Black Friday was “a huge hit for online retailers, but did little to help the struggling bricks and mortar stores throughout the UK,” specialist tracking firm Springboard said on Monday morning.
Britons are primarily bargain-focused and that means events like Black Friday are here to stay, new research shows. But they still want an enjoyable experience and remain fond of physical stores for fashion and beauty.
Black Friday spending fell in the UK, according to one report, even though the number of items bought this year rose, suggesting consumers are bargain-focused and retailers might struggle to make a profit from the event.
Visa and Mastercard have offered to trim the fees merchants pay on card payments by tourists in the European Union in an attempt to stave off possible fines after a long-running antitrust investigation.