Sunday 21 January 2018

Retail News One-liners – 21/1/2018

Retail News One-liners – 21/1/2018
1. Luxury group Kering (Saint Laurent, Gucci) to spin off Puma brand.
2. South Africa’s Woolworths Group down-values its investment in David Jones.
3. Darrell Lea purchased for $200m.
4. ARA says plan to extend gift card expiry to 3 years will harm industry.
5. Myer snaps up brands Lanvin, Victoria Beckham, while David Jones goes for Kate Sylvester.
6. Nestle sells its US candy business to Italy’s Ferrero for around $US2.9 billion in cash.
7. McDonalds to remove all foam packaging by end 2018.
8. UK’s Costa Coffee reveals sales decline due smaller crowds on UK high streets.
9. Knitted wool sneakers are the latest sports shoe innovation.
10. Myer restructures management, cuts support staff.
11. Aussie retailers amongst the slowest to embrace e-commerce.