retailtrade
Casino said this week it would be making the job cuts to improve its financial situation - and said it would refocus its business on convenience stores instead. Meanwhile, the group said it would consult with unions and other stakeholders on 6 May to unveil plans to safeguard most of the nearly 30,000 people it employs in France. Shares in the retailer are down 96% year-to date but investors responded positively to the update, liftings its stock by about 5%. In a separate statement, Casino said it will also implement a reverse share split of its share capital through the exchange of 100 existi...
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JD Sports says it has entered a binding agreement to fully acquire Hibbett for $87.5 (€82) per share in cash, offering a 21% premium over the US company's Monday price and valuing it at just under $1.1 billion (€1.0 billion). "Today is a significant milestone for JD Sports as we take this transformative step as a global leader in the sports fashion industry through this transaction with Hibbett," JD Sports' chief executive officer Régis Schultz said in a statement. "With Hibbett's highly complementary footprint, this transaction represents a logical next step in our strategic growth plans, fur...
Euronews (English)
The volume of retail sales in the eurozone fell by 0.5% month-over-month in February, more than expected, and by 0.4% in the EU. That's according to the seasonally adjusted first estimates from Eurostat. Retail sales also dropped in a yearly comparison in both the EU and the eurozone, by 0.2% and 0.7% respectively, continuing a declining trend in the eurozone that has been going on for 17 consecutive months. All categories of retail spending suffered in February. In a monthly comparison, trade of food, drinks and tobacco decreased by 0.4%, non-food products by 0.2%, and automotive fuel by 1.4%...
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With Spring in mind, French sports retailer Decathlon has announced the launch of its rebrand as it anticipates a growth in demand for sports gear. The French retailer is an official sponsor of the **Paris 2024 Olympics**and it is hoping its logo and emblematic brands will enjoy boosted visibility because of the event. The obvious change is the brand's new visual identity, going from an almost turquoise sky blue to a deeper, darker cobalt blue. Stores will also go through a similar metamorphosis, although it will take time. Decathlon has revealed a more modern-looking sporting goods store wher...
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Investors are putting pressure on Spanish clothing company Inditex to share more information about its supply chain, according to Reuters. Inditex, the largest apparel retailer in the world, is the owner of brands Zara, Bershka, Pull&Bear, Massimo Dutti, Oysho and Stradivarius. The firm publishes an annual list detailing the number of suppliers it buys goods from in 12 key countries, but the names of specific factories are withheld. This bucks a trend set by major clothing retailers like Adidas, H&M, and Primark, who all share this information. Dutch asset manager MN, an Inditex shareholder, t...
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Following nearly two years of closure, retail giant Zara is ready to reopen many of its stores in Ukraine, according to the Financial Times. The Spanish brand closed its 84 stores in Ukraine as well as its operations in Russia after the latter launched its full-scale invasion of its neighbour on 24 February 2022. The war has claimed more than 30,000 lives since. Zara's owner Inditex told the FT that it will begin by gradually reopening its stores in Ukraine, first by relaunching 20 of its stores in Kyiv shopping centres and then by eventually swelling the number of operating shops to 50. How Z...
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Facing difficulties in the US to go public, online retail giant Shein could provide the biggest-ever initial public offering (IPO) on the London Stock Exchange (LSE), the market fighting to get back its old fame. Shein is exploring a London listing because it believes it is unlikely that the US Securities and Exchange Commission will approve its initial public offering (IPO), according to Bloomberg, citing people familiar with the matter. Founded in China, and later headquartered in Singapore, Shein applied to go public in the US in November 2023. Here’s why Chinese fashion giant Shein is eyei...
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The UK's month-on-month sales have risen at their highest rate since April 2021, boosted by gains in every sub-sector except clothing, according to new figures. This has led to increasing hopes that the UK could potentially see its way out of its current technical recession sooner than expected. The UK's month-on-month retail sales report for January 2024 showed that January retail sales clocked in at 3.4%, a huge step up from December’s -3.3%. The figure was also more than double analyst expectations of 1.5%. Year-on-year retail sales inched up 0.7% in January, up from -2.4% in December and b...
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The Body Shop has gone into administration in the UK, less than three months after German private equity firm Aurelius bought it for around £207 million. The decision reportedly followed disappointing Christmas and festive sales. The move is expected to leave up to 2,000 jobs and 100 stores at risk, in order to compete more efficiently with competitors such as Lush, which caters to a younger market. However, the company’s international franchises are not expected to be affected. Founded in 1976 in Brighton, by the late Dame Anita Roddick, the beauty retailer is now headquartered in London, wit...
Euronews (English)
The volume of eurozone retail sales fell by 1.1% in the month to December, Eurostat figures have revealed. Following November's reading of 0.3% growth, the recent figures mark a disappointing fall into negative territory. Compared with the same period in 2022, the reading from the end of last year was down 0.8%, and the average for the whole of 2023 was down 1.8% on the previous year. Following a sharp drop in consumption at the start of the Covid-19 pandemic, retail sales rebounded later in 2020. Since then, variations have been less dramatic, and December's reading represents the most signif...
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