LONDON: Tesco Plc has announced its financial results for the fiscal year 23/24, showcasing significant gains across various financial metrics. The retail giant reported group sales of £61.477 billion, marking a 7.4% increase at actual rates compared to the previous year’s £57.216 billion. This growth remained consistent at constant rates with a 7.2% rise, reflecting…
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Arkhouse and Brigade Capital raise bid for Macy’s to $24 per share
Arkhouse Management Co. LP and Brigade Capital Management have increased their all-cash offer to buy Macy’s for $24 per share, a 51.3% premium over the retailer’s share price before their initial bid in December 2023. The buyer group, which also includes Fortress Investment Group LLC and One Investment Management US as equity partners, urged Macy’s…
How Frictionless Shopping is Changing Consumer Behavior and Expectations
Frictionless shopping is a term that describes retail experiences that are fast, convenient, and seamless for the customer. It involves using technologies such as self-scanning, self-checkout, in-item tagging, and check-out free stores to eliminate the need for manual scanning, queuing, or interacting with staff. According to a new research by Avery Dennison, a digital identification…
Torpedo7 sold for $1 to Tahua Partners Limited
AUCKLAND: The Warehouse Group has sold its outdoor brand Torpedo7 to Tahua Partners Limited, a 100% Kiwi owned and operated business, for $1. The deal will allow The Warehouse Group to focus on its core brands and improve its financial performance. Torpedo7, which represents only 5% of The Warehouse Group’s sales, has faced challenges due…
Shoe Carnival buys Rogan Shoes for $45 million, expands footprint in Midwest
Shoe Carnival, Inc. (Nasdaq: SCVL), a leading family footwear retailer, announced today that it has acquired Rogan Shoes, Incorporated, a 53-year-old work and family footwear company with 28 stores in Wisconsin, Minnesota, and Illinois. The deal, valued at $45 million and funded entirely with cash, is expected to boost Shoe Carnival’s earnings and sales in…
The Reject Shop appoints Phillip Bishop as new Chief Executive Officer
SYDNEY, AUSTRALIA: The Reject Shop Limited (ASX: TRS) announced the appointment of Phillip Bishop as its new Chief Executive Officer. Phillip Bishop is an experienced retailer with 30 years of experience, most recently holding senior roles at Bunnings, including the role of Director Merchandise & Marketing, and prior to that in various senior roles at…
Magnit launches credit broker service
KRASNODAR, RUSSIA: Magnit PJSC, one of Russia’s leading retailers, has launched the Credit Broker online service that allows any user of the chain’s mobile app to apply for a credit card and receive a quick response from partner banks connected to the service. The Credit Broker is available to all Magnit mobile app users. To…
Al Meera Consumer Goods to launch two Lifestyle Community Malls in Lusail
DOHA: Al Meera Consumer Goods Company has announced its acquisition of two properties from Qatari Diar where the retailer has set sights to launch Al Meera lifestyle community malls, a news release said. The properties, located in Lusail’s Fox Hills District and North Residential Villas District, will serve the surrounding neighbourhood and visitors to Lusail…
Eric Lundberg appointed CEO of Apotek Hjärtat
STOCKHOLM: Eric Lundberg has been appointed as the new CEO of Apotek Hjärtat, a news release said. He served most recently as CEO of Kjell & Company, where he has been since 2018. Prior to this, Eric Lundberg was Director of Marketing for Apoteket AB and also held corresponding positions for companies such as Plantagen…
Chico’s FAS Inc.
Chico’s FAS Inc. is an American women’s clothing and accessories retailer founded in 1983 on Sanibel Island, Florida. The company was founded by Marvin and Helene Gralnick and is headquartered in Fort Myers, Florida. Chico’s FAS operates four brands: its namesake Chico’s store, White House Black Market, Soma and TellTale. As of October 2019, Chico’s…
Boohoo agrees to acquire Dorothy Perkins, Wallis & Burton for £25.2 million
LONDON: boohoo, a leading online fashion retailer, has agreed to acquire all of the e-commerce and digital assets and associated intellectual property rights, including customer data, related business information and inventory of the Burton, Dorothy Perkins and Wallis brands from the joint administrators of Arcadia Group Limited and its relevant subsidiaries. boohoo will pay £25.2…
Carpetright Limited
Carpetright Limited is one of the largest British retailers of floor coverings and beds. The company is owned by Meditor. The company now has over four hundred shops. It has expanded into Belgium, the Netherlands, and the Republic of Ireland. Its products include a wide variety of beds, mattresses, carpets, laminate flooring, vinyl flooring and…