Under-pressure retail giant Debenhams has announced a key new appointment with news that Richard Jones is to join it as Trading Director, Global Sourcing, having earlier worked on the expansion of Sainsbury's Tu label.
Marks & Spencer has sold its retail business in Hong Kong and Macau to its franchise partner Al-Futtaim as it retreats from international markets to focus on its core business in Britain, the company said on Tuesday.
As Marks and Spencer India reports ten percent like-for-like growth this past year, the English company now has more stores in India than in any country outside of England and 2018 will see continued expansion.
M&S may have seen a lot of change over the past 20 years but it hasn’t really got to grips with the changes that have happened in the retail sector and that’s what’s causing its current woes, says its new chairman.
M&S will focus more on digital sales, speed up store closures and invest in key clothing areas that are its strongest categories it said as it reported a mixed bag of results but hailed the progress it was making.
‘Supermalls’ in the UK are set to outperform physical retail growth overall, as they attract Millennial shoppers by including more leisure options in their mix, according to a new report from GlobalData.