John Lewis and Waitrose staff are set to share a 22 million pound extra bonus this year after a change in UK legislation following the outcome of an employment tribunal which will affect the way British businesses calculate holiday pay. The employment appeal tribunal in November 2014, which was unrelated […]

REPORT The Bon-Ton Stores has announced that its comparable store sales for the nine-week holiday period ended January 3, 2015 increased 5.3 percent. Total sales for the combined months of November and December were 796.4 million dollars, a 3.8 percent increase over sales of 767.4 million dollars in […]

The Information Commissioner's Office (ICO) has issued a warning to footwear retailer Office, following an hacker attack which exposed the personal data of over one million customers. The hacker accessed customers' personal contact details and website passwords through an unencrypted database that was […]

Geneva's luxury watch show where shop owners search out such brands as Cartier and Piaget opened Monday under a cloud as the franc surged after the Swiss central bank abandoned its bid to hold down its value. The fair in Geneva, attracting only professionals, aims to draw 14,000 visitors in just four […]

China’s luxury watch market will stabilize in 2015 as the industry recovers from last year’s decline in demand from high-end customers, according to Jean-Claude Biver, head of LVMH Moet Hennessy Louis Vuitton SA’s watches business unit. “Every market that goes up needs to consolidate,” Biver said at […]

Grovepoint Capital and Hayfin Capital Management have provided a 25 million euros debt facility to German-based retailer NKD. Grovepoint and Hayfin jointly led and structured the debt financing, and Grovepoint acts as facility agent and security trustee for the lenders. As explained by the retailer, […]

Shinsegae Group, South Korea’s largest retailer, plans to invest a record amount of 3.35 trillion won (3.1 billion dollars) in multi-shopping malls and online businesses, group officials said earlier this week. As highlighted by the ‘Korea Herald’, this sum doubles last year’s investment budget of 2.2 […]

International spend in the UK hit the highest level on record in December, 2014, according to retail tourism experts, Global Blue. The festive month came in higher than last year's record, up a further 11 percent on the 40 percent increase seen in 2013 for December, but was not enough to boosted overall […]

Spanish fashion conglomerate Inditex has its sights set on becoming an apparel powerplayer in China, as its chairman and CEO, Pablo Isla, met with Zhong Shan, China's International Trade Representative to reaffirm the group's commitment to the Asian market. Isla shared plans with Zong to roll out the […]

The Austin Reed Group, parent company of Austin Reed, CC and Viyella is set to shut down 31 stores and receive a 3 million pound cash injection from its shareholders through a Company Voluntary arrangement (CVA). The group stated that 22 CC, previously known as Country Casuals stores, and 9 Austin Reed […]

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