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Americans accumulate approximately $48 billion in rewards points and miles annually, according to the results of a first-ever study on the perceived dollar value of loyalty programs that illustrates the real economic power of these programs for consumers, issuers, merchants and manufacturers.
LVMH Moet Hennessy Louis Vuitton and Burberry Group led European luxury-goods stocks higher as both companies reported quarterly revenue gains that beat analysts’ estimates and eased concern over growth this year after last month’s earthquake in Japan.
On the heels of very 90s-inflected fall runway collections, Dr. Martens has launched its first clothing and accessories lines. The legendary brand, which has made a hipster resurgence from its grunge-iconic past, was inspired by more millennial fashionistas, ranging from Agyness Deyn to Jessica Alba.
The U.S. Census Bureau reported that overall U.S. retail spending in March rose by 0.4 percent from February on a seasonally-adjusted basis, while non-auto, non-gasoline spending posted a healthy 0.6 percent rise.
London-based Burberry Group launched the brand's first Burberry Brit concept in the United Kingdom in Covent Garden on April 15. Much like the Bleecker Street location, which recently opened in New York, the store design was developed exclusively by Christopher Bailey and represents a move to capture its increasingly younger, media-savvy consumers.
Royalists are set to splurge 1.7 billion pounds in an unexpected wave of wedding fever. Experts said consumers will shell out an average of 59.21 pounds on mementos and 115.89 pounds each on food and booze — more than had been predicted. The big spenders are under-25s with a third planning to celebrate on April 29.
Ecko is running a promotion asking its fans to get tattoos of the Ecko rhinoceros logo or the Marc Ecko Cut & Sew shears for 20 percent off at all Ecko stores for life. At least 30 die-hard Ecko lovers had gotten the tats.
Office Depot admits it hasn't been taking care of business when it comes to its retail store customers. The big-box retail concept offering thousands of office supply products was no longer working. "Our model was broken," said Kevin Peters, head of the retail division for Boca Raton, Fla.-based Office Depot.
J.Crew said it plans a $20 million expansion of its Lynchburg, Va., distribution center to facilitate the retailer’s goal of selling more clothes overseas. J.Crew is slated to open its first store outside the tates and start shipping orders to Europe by the end of 2011.
It looks like David Beckham will follow his wife Victoria into fashion designing. But he won't be designing women’s frocks but baby garments. Beckham will team up with his pal Snoop Dogg to design a new fashion line for kids.
