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How 99 Bikes plans to return to profit with an electric-powered push

Inside Retail

Australian specialty retailer 99 Bikes has announced its B Corp certification as the business continues to backpedal from its $12.4 This year, the group has closed three stores in New Zealand and in the highly competitive UK market, two closures are planned. million loss in FY23 after a $23.7 million profit the year prior.

Planning 130
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Myer CEO and MD John King to retire

Inside Retail

King has more than 30 years of experience in retail across department stores, specialty retailing and premium global brands in the US and UK. King established the ‘customer first plan’ which helped the department store navigate the pandemic and return to being a profitable and stronger business.

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Brisbane’s West Village retail precinct sells for $202 million

Inside Retail

Centuria Capital Group has secured the $202 million West Village retail precinct within Sekisui House’s $1.1 billion master-planned mixed-use development in West Village, Brisbane. The group will co-invest in the acquisition alongside an existing international sovereign wealth fund’s institutional mandate.

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Suburban shopping strips are struggling, but they still have time to evolve

Inside Retail

The fall in retail vacancy levels from late 2022 and March of this year, after the Covid lockdowns were lifted, are likely to creep up again in the prevailing economic conditions, and vacancy rates in CBD retail precincts continue to be impacted by low office occupancy.

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Exciting New Retailers Take Flight at London Gatwick

Retail Focus

The revamp is offering more than 1,000 square metres of combined retail space across the North and South Terminals. This space was primarily designated for fashion and specialty retail offerings. The post Exciting New Retailers Take Flight at London Gatwick appeared first on Retail Focus - Retail Design.

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Our Place Opens First Retail Store

VMS

Our Place, which describes itself as a mission-driven kitchenware brand, has opened its first-ever retail store in the brand’s hometown of Los Angeles. The specialty retailer also said it plans to open a second locale in the city by year-end but did not disclose specifics on its timing or location.

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Bed Bath & Beyond Confirms $1.2 Billion-Plus Loss

VMS

26, the same figure the struggling retailer said it expected to post in a business update it issued last week. That update also said there is “substantial doubt” the specialty retailer can continue operating, but the latest release did not include that phrasing. (Union, N.J.)