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Mar 15, 2024 | 
insideretail.asia | Corina Pons |Helen Reid |Saskia Fairfull |Anil Prabha
Zara-owner Inditex more than doubled its pre-tax profits in China last year even as the fashion retailer scaled back its physical presence, closing a fifth of its stores in the country in a sign its focus on online sales is bearing fruit. Inditex has been shrinking its store footprint globally over the past few years, seeking to optimise its selling space by focusing on flagship outlets in prime locations and ramping up online sales.
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Mar 14, 2024 | 
insideretail.asia | Celene Ignacio |Saskia Fairfull |Anil Prabha
United States Polo Association’s brand US Polo Assn has opened its largest Indian store yet in Bengaluru. The 6000sqft store has three floors and is situated in Jayanagar, known for its affluent mixed residential and commercial neighbourhood.
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Feb 26, 2024 | 
insideretail.co.nz | Irene Dong |Saskia Fairfull |Aron Lewin
Sportswear giant Nike is set to launch a new store in Auckland, marking the brand’s largest location in New Zealand. Located inside the upcoming shopping experience Manawa Bay, the store will span 1500sqm and offer a full range of products as well as premium experiences and services.
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Feb 26, 2024 | 
insideretail.co.nz | Irene Dong |Saskia Fairfull |Aron Lewin
Popeyes has announced its debut in New Zealand, with the first hero restaurant set to open in April in Takanini, Auckland. The Popeyes master franchisee in New Zealand (Popeyes MF – New Zealand) plans to open several more Popeyes restaurants across the country in quick succession by the end of this year. The chain is expected to create more than 150 jobs and bring in an estimated $25 million in investment over the next few years.
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Feb 22, 2024 | 
insideretail.asia | Yuvraj Malik |Saskia Fairfull |Aron Lewin
Grab Holdings reported its first quarterly profit on Thursday and unveiled a maiden share repurchase program, but the ride-share and food-delivery firm’s weak annual sales forecast fanned growth worries and weighed on its shares. While the Singapore-based company’s ride-share growth hit pre-pandemic levels in 2023, its food-delivery services is rebounding from a slowdown following a boom during the lockdown.
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Feb 22, 2024 | 
insideretail.co.nz | Celene Ignacio |Saskia Fairfull |Aron Lewin
Godfreys, the vacuum cleaner retail group that collapsed into voluntary administration, has attracted the interest of multiple prospective bidders ahead of the deadline for indicative offers next week. An unspecified number of potential buyers have proceeded into the data room as part of the stage one phase of due diligence, including “multiple leading retail brands and investment groups” according to the administrators.
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Feb 22, 2024 | 
insideretail.co.nz | Sean Cao |Saskia Fairfull |Aron Lewin
Banks have been warned by the Commerce Commission to accelerate the introduction of new options for Kiwis to pay for goods and services. “More efficient payments between bank accounts will reduce both merchant and consumer reliance on the likes of Visa, Mastercard, and American Express and the costs associated with these types of payment methods,” said the commission’s chair John Small.
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Feb 22, 2024 | 
insideretail.com.au | Sean Cao |Rakshnna Pattabiraman |Saskia Fairfull
Fashion retailer Universal Store has posted group sales of $158 million for the first half of FY24, up 8.5 per cent year on year. The core Universal Store business saw sales decline of 1.4 per cent to $133.2 million, but there were signs of improvement as the half progressed. The improving trend also continued into the first seven weeks of the second half. CTC, which trades the Thrills and Worship brands, logged a sales improvement of 4.2 per cent to $25.3 million.
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Feb 22, 2024 | 
insideretail.com.au | Rakshnna Pattabiraman |Saskia Fairfull
Consumers shopping in physical stores are seeking a more personalised and relevant engagement with retailers today, based on their needs and desires – they want more than conversations with sales associates merely trying to sell them something.
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Feb 22, 2024 | 
insideretail.com.au | Celene Ignacio |Rakshnna Pattabiraman |Saskia Fairfull |Aron Lewin
David Jones has launched its Autumn-Winter 2024 season including 50 new and exclusive womenswear, menswear, footwear, and accessories brands to its portfolio. Bridget Veals, David Jones GM of womenswear, footwear and accessories, noted that minimalism and understated luxury such as wardrobe staples and sleek evening wear are in trend this season, as she explains the newly launched collection.
