UK PRIME MINISTER Boris Johnson has confirmed that Covid-19 restrictions will be eased in England as planned from today. Longer opening hours in England will help people return to our high streets safely when non-essential shops re-open from 12 April at the earliest. The non-essential shops will be permitted to remain open until 10pm. This is a very good news for both Consumers and Retailers that has been financially impacted by the lockdown during the past few weeks.
Best Buy :
Starting today in select markets, Best Buy is piloting a new membership program, called Best Buy Beta, that will provide customers with an array of benefits, including exclusive member pricing, unlimited Geek Squad technical support, up to two years of protection on most product purchases, free standard shipping and delivery, and free installation on most products and appliances. The pilot is currently available at select stores throughout Iowa, Oklahoma and eastern Pennsylvania. The firm will expand to customers and select stores in Minnesota, North Carolina and Tennessee.
Dick’s Sporting Goods announced the grand opening date for its new 17 000 SQF outdoor House of Sport store concept in Victor New York, a location that aims to combine space for physical athletic activities with the company’s typical retail experience. DICK’S House of Sport will explore the future of retail through multi-sport experiences inside and outside the store, broad integration with the community and elevated customer service.
JC PENNEY :
The department store chain JC Penney pushes the closing of its 18 stores to May. The firm was one of the largest retailers to file for bankruptcy protection during the COVID-19 pandemic. J.C. Penney has already shuttered 156 stores permanently. To save the firm, the management has been working to brands which are mostly in its home department, which is where Americans have been spending money during the COVID-19 pandemic.
After 32 years, the world’s largest crystal manufacturer, Swarovski, has revealed a new brand identity, The revamped Swarovski will also introduce new brick-and-mortar concept stores to bring to life the Swarovski Wonderlab. With 28 Instant Wonder stores unveiled in key global markets, as well as in two new locations in Paris and New York.
Uniqlo dethrones Zara as most valuable clothing company. The value of Fast Retailing, the Japanese parent of casual clothing chain Uniqlo, reached $103 billion at the end of trading Tuesday, putting it at the top of the global apparel industry in terms of market capitalization. Fast Retailing’s stock has climbed since August, spurred by investor confidence in its focus on the China market where Uniqlo operates 791 stores, and representing currently the brand’s second biggest market after Japan.
German fashion webshop Zalando has lowered its first-quarter forecast, as its sales have dropped significantly due to the measures implemented in many European countries in the fight against the coronavirus. Zalando temporarily eliminates commissions for both new and existing partners. In addition, the company will switch from a monthly to a weekly payment schedule to help retailers alleviate their financial difficulties and contribute to their liquidity.