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How Korea’s big 3 department stores are killing it right now

Inside Retail

First quarter results for calendar year 2022 are in for the three biggest Korean department store retailers, and the numbers are encouraging. Shinsegae, Lotte, and Hyundai account for the top nine department stores in the country (coming in at number 10 is Galleria’s high-end flagship in Seoul). trillion KRW ($2.1

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The “Great Mall Resurgence” in the American retail market

Inside Retail

The multi-store shopping centre steadily grew in popularity in the US, hitting peak popularity in the 1980s. According to a report released by real estate agency Cushman & Wakefield, in the first quarter of 2024, shopping center vacancy reached 5.4 As Baird warned, “Retailers need to pick their malls carefully.

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Central Group snaps up KaDeWe’s remaining assets. What’s next?

Inside Retail

Following the €1 billion acquisition of the KaDeWe property in Berlin’s most famous shopping street Tauentzienstraße, from Signa Prime Selection AG last April, Central Group has agreed to acquire the rest of the KaDeWe Group portfolio – Alsterhaus in Hamburg and Oberpollinger in Munich. What’s next?

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How Saks Fifth Avenue is tapping into the power of personal shopping

Inside Retail

While the everyday consumer has become pri c e-sensitive with the growing costs of living in the US, the 1 per cent is still spending – to a point where the luxury shopping market has become more competitive than ever. The retail expert noted that “for discretionary luxury shopping in physical retail, this is paramount”.

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From mini stores to the metaverse, will Macy’s new moves pay off?

Inside Retail

Macy’s has been stepping up to the plate with a series of new moves, from the expansion of its smaller-footprint stores, to a new digital fashion platform targeting younger shoppers. But while these initiatives sound promising, the question remains: can the department store chain truly adapt to the needs of the modern-day consumer?

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Macy’s store closures: a necessary step or the wrong move?

Inside Retail

This week, Macy’s announced plans to shut down 150 “underproductive” stores, more than one-fifth of its department store assemblage, over the next three years. The closures are a part of the retailer’s plan “to create a more modern Macy’s, Inc. However, the legacy retailer’s reputation has been on shaky ground of late.

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The lowdown on Central Group – reported new owner of Selfridges

Inside Retail

And while Central Group’s publicly listed subsidiary, Central Retail, has denied any involvement in the transaction, multiple reports suggest that another division of the conglomerate is involved in the talks. Central Group is one of the ‘big three’ Thai retailers and shopping centre developers/operators.