French hypermarket group Carrefour is laying off thousands of employees, CEO Alexandre Bompard announced today. His new transformation plan, focused on e-commerce, is intended to turn Carrefour into the “global leader in food transition”.
Amazon will open its first cash register-free store in Seattle today, near its main office. The trial with its own employees will now be extended to the general public.
Swedish H&M is losing the fast fashion battle against Spanish Inditex. It may still be the cheapest of the two, but Inditex taps into new trends faster which in turns brings in more customers.
Swiss luxury group Richemont proposed to obtain a majority stake in online retailer Yoox Net-a-Porter. The move is a way to implement its online strategy faster.
Fashion chain The Sting generated a profit once more in 2016, after it had to deal with a more than 5 million euro loss in the year before. Affiliate brand Costes also generated a profit in its fiscal year 2016.
Italian shoe brand Geox’ turnover dropped slightly in the past fiscal year. It also replaced former CEO Gregorio Borgo with Matteo Mascazzini, who came from Italian fashion brand Gucci.