Dec
 14
 2017



Christopher

Hello,

Today's edition of The Spin is heavy on retail-related news including Target's newest acquisition, Inditex's continued rise and Lord & Taylor's new size inclusiveness. There's also interesting bits about two Italian luxury giants, Gucci and Prada. Enjoy the read! Best, Christopher



retail

Target-ing Amazon. Target is firing back at competitor Amazon and its speedy delivery options with its newest acquisition. Yesterday it announced it was purchasing startup delivery service Shipt for $550 million, which it will use to implement same-day delivery from most of its stores by this time next year. Alabama-based Shipt currently is a grocery delivery service but will expand its range and serve as a wholly owned subsidiary of Target.


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Slightly stunted growth. Inditex, the parent company of Zara and the world's largest clothing retailer, released its latest financial numbers yesterday and they were good. For the first nine months of the year it saw a 10 percent rise in sales to €17.9 billion and its gross profit rose 9 percent to €10.3 billion. However, although Q3 sales were up 6 percent to €6.3 billion, sales growth for the period was down due to the warm autumn in Europe.



No merriment for Myer. Australia's largest department-store company, Myer Holdings Ltd, is having a yucky yuletide. Citing significantly lower than expected holiday sales in the past two weeks, the retailer issued a profit warning for the six-month period ending December that said its numbers would be "materially below" last year's. As a result its shares plummeted to an all-time low.



Not so charming figures. During a court review of the Chapter 11 petition of bankrupt US accessories and jewelry chain Charming Charlie yesterday, the retailer's lawyer cited (paywall) some scary store statistics. He said the chain was the 20th major retailer to file for bankruptcy in the US this year and that 6,700 retail stores were shuttered there thus far in 2017. Charming Charlie plans to close 97 of its current 374 locations nationwide by Christmas as part of its planned turnaround .



Size desegregation. In a market where large brands' tend to ignore plus-size customers thereby creating lucrative business opportunities for smaller ones, department store Lord & Taylor is standing out as an exception. For the launch of the brand Project Gravitas in its physical stores, it is merchandising all the sizes together rather than placing the larger ones in a separate plus-size area. The everything-under-one-roof move is intended to create a "confidence closet."





brands

Googling Gucci. In yet another sign that Gucci had an amazingly successful 2017, it topped the list of the most searched for fashion brands of the year released by Google yesterday. In descending order the rest of the Top Ten were Louis Vuitton, Supreme, e-commerce site Fashion Nova, Chanel, Yves St. Laurent, Christian Dior, Dolce & Gabbana, Valentino and Moschino.



Prada's Postman. Prada has released the fourth and final installment of its holiday video series called "The Postman Dreams 2" directed by Autumn de Wilde and starring Elijah Wood as a postman who delivers a Galleria bag to characters played by Emma Roberts and Amber Valletta, among others. The two-minute movies can be watched on Prada's website and social media channels. It is the third time Prada has created original films for season.



Look book. French brand Koché is getting plenty of positive ink for staging a runway show of its pre-fall collection in the iconic New York bookstore The Strand on Tuesday afternoon while the store was still open to the public. Designer Christelle Kocher said she decided to hold the guerrilla style event there because the brand wants to expand in America and it's one of her favorite places in New York City.







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