Retail sales expected to rise 4.5% in 2015 - USA
ChainStoreAge.com - Jan 19th 2015, 10:40
New York - The outlook for the retail industry looks bright, with lower prices at the pump and decreasing unemployment boding well for consumer spending. Retail sales are expected to rise 4.5% in 2015, which is about one percentage point stronger than 2014 growth, according to a report by Kantar Retail, whose analysis excludes automobile dealers, and gas and food service.
Growth will improve in most channels in 2015, the study notes, but remain skewed toward online gains. Online sales, which account for approximately 10% of total retail sales, are expected to grow 15% this year, same as in 2014, while sales at physical stores are expected to rise 3.6%.
The retail landscape will remain uneven and fragmented with most of the gains driven by younger people. By channel, Kantar sees another year of healthy growth for drug stores as healthcare reform rollout sustains spending from the newly insured.
While online competition will weigh on all specialty stores, the apparel channel will be bolstered by job and income gains. Department stores will lag. The home goods market hinges partly on subsiding price deflation that dampened 2014 growth, according to Kantar.
New York City boosts cigarette prices to $13 per pack
30/08/2017 - 09:19
New York boosted the minimum price of a pack of cigarettes by 24 percent to $13 (€10.80) and placed a cap on the number of tobacco sellers, part of the city’s biggest crackdown on smoking in more than a decade.
Zeekit launches app to virtually try on outfits before buying online or in-store
19/09/2016 - 14:26
NEW YORK - Zeekit, a B2C platform and mobile app that reinvents the way consumers browse, share and shop from their mobile devices, has launched an advanced virtual fitting room app for consumers and retailers.
G-III to Acquire Donna Karan International
26/07/2016 - 09:36
NEW YORK & PARIS–(BUSINESS WIRE)–G-III Apparel Group, Ltd. (NASDAQ:GIII), a leading designer, manufacturer and marketer of branded apparel and accessories, and LVMH Moët Hennessy Louis Vuitton (LVMH.PA), the world’s leading high quality products group, today announced that they have entered into a definitive agreement under which G-III will acquire Donna Karan International, Inc., parent of the Donna Karan and DKNY brands and owned by LVMH, in a transaction with an enterprise value of $650 million, subject to customary adjustments at closing. The transaction is expected to close in late 2016 or early 2017.
Hershey going bigger in Times Square
20/07/2016 - 10:09
The Hershey Company is moving its popular store in Manhattan’s Times Square to a much larger location.
US retail giants feel pain as online shopping hits - USA
16/05/2016 - 14:39
New York - Iconic American stores Macy's and Gap are facing tough questions about their future following dreary earnings announcements this week that highlighted the growing market share taken by online retailers.