STOCKHOLM: Swedish furniture giant Ikea has cut 5,000 jobs worldwide due to the global economic crisis but expects to post record sales nonetheless, its chief told a Swedish newspaper on Tuesday, 23 June 2009. 24 Jun 2009
Failing businesses in East London's shopping malls have raised concerns about the viability of retailers in the city. 23 Jun 2009
Even when the chips are down JD Group CEO David Sussman has a bullish outlook on life. So when he points to an uptick in the furniture group's credit sales as “heartening” in a consumer recession, it would be easy to dismiss this as overly enthusiastic. 19 Jun 2009
After more than 60 years in business, the household name of Elco in East London will cease to exist. 17 Jun 2009
Marco Cicoria, CEO of Stuttafords, is one patient man. As a director of Stuttafords since 2000, he's been involved in two leveraged buyouts of the retailer, watched two CEOs come and go and seen the strategy for the grande dame of department stores come full circle. 12 Jun 2009
Lewis Stores CEO designate Johan Enslin has the face of a choirboy and the reserved manner of an accountant. He takes the reins from industry veteran Alan Smart in September, at which point, says Smart, he is “going fishing”. 12 Jun 2009
BERLIN: German retail and tourism giant Arcandor filed for bankruptcy on Tuesday, putting around 43,000 jobs at risk after Berlin dismissed the company's request for emergency state aid. 11 Jun 2009
Local and overseas buyers are queuing to buy Wilderness shoe designer Lindsay Bennett‘s creations. “Women were fighting over the shoes, I sold every one of 200 pairs,” the owner of Lindsay and Co boutique label, told La Femme of her experiences at this year‘s Design Indaba. 11 Jun 2009
MADRID: Inditex, Europe's biggest clothing retailer and owner of the Zara brand, reported on Wednesday a 16% drop in first-quarter net profit as consumers cut spending in the economic downturn. 10 Jun 2009
BERLIN: German Finance Minister Peer Steinbrueck said on Monday, 8 June 2009, that the retail group Arcandor, which owns the Kardstadt chain and a majority share of Thomas Cook, could go bust, and its shares plunged a short time later. 8 Jun 2009
Department store Stuttafords yesterday said it would reduce the number of its stores from 18 to 13 but make them bigger to ensure more customer space. 5 Jun 2009
WASHINGTON: Top US retailer Wal-Mart plans to create 22,000 jobs in its US stores in 2009, the company said in a statement on Thursday, 4 June 2009. 4 Jun 2009
PARIS: French fashion house Christian Lacroix was placed under administration on Tuesday, 2 June 2009, after filing for bankruptcy protection last week because of the global financial crisis, the company's lawyer said. 3 Jun 2009
At the heart of Mr Price's success is a group of 30 20-something whizz kids who trawl the Internet and travel the world. “I call them my kids,” says chief executive Alastair McArthur of the forecasting unit that ensures the group gets the design of clothing and homeware in line with overseas trends, at the right time. 1 Jun 2009
Furniture retailer Coricraft is moving into an expansion phase, and plans to open six stores this year and another three in the first quarter of next year. 1 Jun 2009
Fashion retailer Foschini has not escaped the economic turmoil, but managed to improve operating margins as a result of improved second-half trading. 29 May 2009
SA's largest clothing retailer Edcon, delisted since April 2007, said yesterday, 27 May 2009, it spent R571m in the year to March 2009, mostly on new stores, refurbishments and a new point-of-sale system. 28 May 2009
Mass retailer Massmart may be blocked in its bid to buy Finro Cash & Carry to grow subsidiary Masscash as the deal would limit competition in the food sector in Port Elizabeth, especially affecting low-income earners. 27 May 2009
Retail group Mr Price on Wednesday, 27 May 2009, reported diluted headline earnings per share of 244.6 cents for the year ended March 2009 from 210.8 cents a year ago - a rise of 16%. 27 May 2009
As one of the biggest retailers of pre-paid cellular products in South Africa, PEP is launching its own first PEPcell Starter Pack, powered by MTN. 27 May 2009
Let's do Biz