Saks Fifth Avenue owner Hudson’s Bay Co said on Wednesday it had received a bid for its German department store chain Kaufhof from Signa Holding, the Austrian property and retail group that owns Karstadt.
Value Retail, the company behind some of the world’s most successful luxury outlet centres, has launched China’s largest mobile payment method Alipay to give its Chinese consumers an easy and safe way to make payments.
House of Fraser delivered lower sales and wider losses Wednesday but was upbeat and said its womenswear revamp is paying off while lower e-sales were caused by an online re-platform that is now yielding good results.
The Laura Ashley headlines may have screamed 70% profits plunge but the news wasn't truly as bad as that. And with a renewed focus on fashion, expansion in India and e-tail growth, it's upbeat, despite big challenges.