German retail group Galeria Karstadt Kaufhof is strengthening its grip on its Belgian department store chain Galeria Inno: the German Armin Devender is the new CEO, succeeding the Belgian Stefaan Le Clair.
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Large flagship stores continue to distinguish themselves through their unique experience and local anchoring, according to former Kaufhof leader Olivier Van den Bossche. Department stores might also take on the role of omni-channel hubs in the future.
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Canadian chain Hudson’s Bay has decided to close all of its stores in the Netherlands, meaning 1424 people will lose their jobs by the end of the year.
Canadian Hudson’s Bay Company wants to leave Europe and the stock exchange. The Dutch stores are an exception and remain part of the company - for now.
The two German department store chains are reorganising their central services and cutting jobs in the stores, although no outlets will be closed for now. The subsidiaries in the Benelux remain safe for the time being.
There may be an alliance in the making between the two largest German department store chains. Canadian Hudson's Bay, owner of Kaufhof, is in talks with Signa Holding, which acquired Karstadt in 2014.
Canadian department store group Hudson’s Bay is to part ways with its CEO, Jerry Storch, on 1 November. Until a new CEO is found, executive chairman Richard Baker takes up the role of temporary CEO.
V&D and La Place's guardians informed they have been unable to relaunch the V&D department stores. This means that only the external La Place locations were sold to Jumbo and that the intended V&D Group relaunch failed.