Retail News CRM

Tag: labvel

  • Uniqlo takes over Superdry’s London flagship

    Uniqlo takes over Superdry’s London flagship

    The parent company of Uniqlo, Fast Retailing Group has signed a letting for the former Superdry store on Regent Street.

    The store is expected to sell a mixture of both Theory and Uniqlo clothing.

    The contemporary fashion brand Theory launched in New York in 1997 and at the end of February 2021, it holds 436 stores worldwide.

    The Japanese fashion retailer’s other brands, including US-based denim brand J Brand, could also be sold in the store, property sources said.

    The store is expected to open later this year although the exact date is not yet known.

    Last month Superdry closed the doors to its Regent Street flagship store, which first opened in 2011.

    The retailer is currently considering several locations in the capital, including Forever 21’s former flagship store on Oxford Street, which was forced to closed last year after the retailer filed for administration in the UK.

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  • Property deal set to save Le Saunda’s bottom line

    Property deal set to save Le Saunda’s bottom line

    Hong Kong-listed shoe retailer Le Saunda says same-store offline sales rose by 13.8 percent in the February quarter after it rationalized its store network.

    In a positive profit alert issued to the Hong Kong Stock Exchange, chairman James Ngai said group sales rose 5.2 percent year on year after a net 52 stores closed in Mainland China, Hong Kong, and Macau. As at February 28, the company had 389 outlets remaining, 347 of them self-owned across the three markets, and 42 franchised on the mainland.

    The company said a preliminary review of its full-year accounts shows the company “may” have recorded a profit, which would mark a significant turnaround from a US$4.7 million loss in the prior year.

    However, that was mainly attributable to the completion of the effective sale of its former factory in Shunde, Guangdong which it closed last May, and reached an agreement with the local government to hand back for $30 million. Le Saunda made a strategic decision to discontinue manufacturing and to contract production out to third parties.

    While in-store sales are on the rise after several years of decline, Le Saunda’s e-commerce business continues to underperform, with sales down 8.4 percent year on year in the fourth quarter.

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