Inside Retail Asia latest department stores news, trends and insights within the Asia retail sector.
Latest Department Stores News - Inside Retail Asia
Malaysian department-store operator Parkson is to quit operating full-scale stores in Vietnam after years of losses.
Chinese department stores long-term outlook remains positive despite being greatly impacted by Covid-19, according to Fung Business Intelligence.
Sales by Japanese department stores slumped by between 20 and 30 per cent year on year in June, but that was a lesser rate than in May.
Singapore department-store operator Metro Holdings has reported a drop in net profit of 82 per cent in the second half, citing Covid-19 and a store closure.
Guess Asia sales are recovering post Covid-19, but the company will be exiting some stores in the region when leases come up for renewal, as part of a worldwide network trim of 100 outlets.
South Korean retailers experienced a burst in consumption during the so-called ‘golden holiday’ spanning six days from the end of April to early May.
Two Asian retailers have been named in a global housewares awards sponsored and organised by the Inspired Home Show and the IHA.
Revenge spending has been credited with a significant upturn in sales of high-priced retail goods in South Korea, which has emerged from lockdown.
Japanese department store Takashimaya is to sell financial products and services in partnership with an online securities company, SBI Securities.
Japanese department-store chain Isetan will quit Thailand later this year after 28 years operating in Bangkok.
The Philippines’ largest retail landlord SM Supermalls says retailers’ sales have dropped both at home and in China due to the coronavirus crisis.
Singapore-headquartered department-store chain Robinsons has built a 120,000-strong loyalty programme database in just 18 months using an app-based solution.