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London tops in luxury retail openings
More luxury stores opened in London in 2016 than any other city in the world. The British capital topped the global ranking for new luxury retail store openings in 2016, according to Savills Global Luxury Retail report. The city saw a total of 41 luxury store openings during the year, (of which 15 were the respective brand’s first ever store in London), followed by Paris, with 36 openings, and New York, with 31. Rounding out the top five were Dubai (31), Hong Kong (25) and Milan (24). -
Apparel retailer expanding outlet store concept after terrible Q4
Express Inc.’s profit plunged 59% in its fourth quarter amid increased discounting and weak mall traffic. In reporting its fourth quarter results, the apparel retailer said it plans to improve its merchandise mix through a more curated selection. Express’ profit decreased 59% to $22.8 million in the quarter ended Jan. 28, in line with expectations, as earnings per share fell to $0.29, from $0.67 in the year-ago period. .

