Hudson’s Bay plans to close most of its 64 remaining Zellers stores, according to local press. They are locations that are not being converted to Target shops. The closures will be completed by March 2013.
A spokeswoman said: “After a lengthy review and numerous discussions with various parties, it became apparent that continuing to operate the Zellers banner in its current form was not viable.”
Burberry has recorded a decline in its full-year sales and profits, but boss Marco Gobbetti hailed the luxury retailer’s resilience as full-price sales drove momentum.
Judging by some of the latest data on retail sales, which rose by over 30% in March, the US retail sector has not so much emerged from the pandemic into the sunlit uplands as come forth into a blazing heatwave.
The sale of Topshop’s iconic Oxford Street flagship has kicked off, with a portion of the funds from the £420m sale allocated to Arcadia’s pension scheme.
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With both Tesco and Superdry pulling out of international ventures on the same day, Retail Week asks whether UK retail is scaling back its global ambitions.
The coronavirus crisis will wipe $2.1trn (£1.7trn) off of global retail sales in 2020, new data has predicted.
The coronavirus outbreak has sparked fears and headlines worldwide since emerging in the Chinese city of Wuhan at the start of the year.
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