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Retail Asia19/07/2019

Japanese department-store operator Takashimaya is to close its Shanghai department store after years of losses, and exit China. The company said it would recommend to shareholders at a special meeting on August 25 that its Shanghai Takashimaya Co subsidiary be liquidated after it failed to negotiate a rent reduction from its Chinese landlord. Assuming approval […]

Retail Asia02/06/2017

Michael Kors, the once-popular retailer that has been trying to turn itself around, said it expected same-store sales to continue to fall in 2018, and that it would shut more than 100 full-price retail stores in the next two years. Shares of the company slumped nearly 11 percent to $32.38, their lowest in more than […]

Retail Asia30/03/2016

American food chain Smoothie King has closed all seven of its stores in Singapore over the past month – although it says it is still keen to operate here within a franchise agreement. The news has shocked observers as the food and beverage segment is said to be one bright spot in an otherwise gloomy […]

Retail Asia19/01/2016

On Friday, Walmart announced it will close 269 stores globally as it struggles to compete with online retailers like Amazon. The news came as US retail figures showed lower than expected holiday sales figures across the market. Sales rose just 3% in November and December, falling short of the expected 3.7% growth according to the […]

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Takashimaya Closing Shanghai store

Michael Kors to shut over 100 stores

Rough patch for Smoothie King as it closes outlets here

Walmart shuts 269 stores worldwide