Nov
 07
 2017



Christopher

Hello,

Welcome to today's edition of The Spin. On this Tuesday we're looking at Amazon's new pricing policy, seeing how the department-store landscape is changing even behind the scenes and taking a peek at how "Star Wars" is suddenly a major "force" in fashion. I hope you enjoy the read. Best, Christopher



retail

Third-party deals. In anticipation of the holiday season, Amazon is selling products from third-party sellers at a discount but still giving sellers the full price. While the online giant is spinning this "Discount provided by Amazon" as a win-win for customers and vendors, who will get lower prices and increased sales respectively, some of the latter criticize the move and say that it will decrease their products' value.


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Another blow to Bon-Ton. Struggling US department-store chain The Bon-Ton Stores Inc., whose poor financial performance of late has left it on the verge of bankruptcy, has received more bad news: It has been delisted from the NASDAQ stock exchange because its market value and stock price no longer met the necessary requirements to be traded there. The company, which operates 260 stores and had a 2Q loss of $33.2 million, will instead trade on the smaller-scale OCTQX Best Market starting on Thursday.


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Bye-bye, buyer! Friday's announcement from American department store JCPenney that its latest executive restructuring would include the total elimination of the chief merchant position held by John Tighe seems to indicate that this once important retail job – and retail buying jobs in general – are going the way of the dinosaurs. The move is reflective of an overall business trend where human buyers are being replaced by data analytics.





brands

Kors soars. Michael Kors had a good Monday. Yesterday it reported positive second-quarter results including total sales of $1.15 billion, a 5.4 percent increase from the $1.09 billion in the same period last year. As a result, the company increased its outlook for fiscal 2018 and expects revenue to be about $4.59 billion.



Sci-fi style. NYC-based design house Rag & Bone has designed a contemporary men's and women's capsule collection in collaboration with Disney and Lucasfilm that is inspired by "Star Wars: The Last Jedi," the forthcoming movie in the space-saga series. The stylish clothes and shoes, which will be available next month two weeks prior to the film's opening on December 15, will be priced from $95 to $1,295. In addition, the current issue of Harper's Bazaar features a "Star Wars"-themed photoshoot starring many of today's top models.





markets

Anglo-anxiety. Newly released figures from the British Retail Consortium indicate that October retail sales in the UK fell 1 percent on a like-for-like basis, the worst October drop since 2008 and a reason for retailers to be concerned as they enter the annual Christmastime selling season. A separate study by Barclaycard was also negative and showed a 4.1 percent drop in clothing purchases for the month, the lowest figure since March 2013.



Coming to Qatar? Italian designer Valeria Mangani who is currently visiting Doha, Qatar for the five-day Heya Arabian Fashion Exhibition has revealed that plans are underway to open an internationally focused fashion school there by the first half of next year. The school will be staffed with fashion experts from Italy confirmed Italian ambassador Pasquale Salzano.





last

Clothes horses. The annual Melbourne Cup horse race was held in Australia earlier today and as always the tony fashions sported by onlookers stole the spotlight from the so-called main event. Attended by celebrities (including Paris Jackson who was a guest of department store Myer this year) and ordinary people alike, the gathering at Flemington Racecourse saw a bevy of women in bright colors this time.







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