Sunday, May 29, 2011

Myer to drop TVs for fashion

THE department store operator Myer is expected to stop selling televisions in the coming months as part of its strategy to focus more on fashion, footwear and cosmetics.
Already the group has said it will cease selling whitegoods and gaming consoles, with televisions likely to be the next to go.
Analysts said the change is a sign of how tough the retail environment has become for department stores. Scott Courtney, of Morningstar Equities, said the more it stops selling certain items, the less attractive a destination it would be for shoppers.
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''Ultimately department stores are underperforming and that could lead to reduced pedestrian traffic throughout the rest of a mall,'' he said.
''Department stores are the anchors to a mall, but unlike the past where they offered everything under one roof, nowadays they are the last place a shopper would go for a couch, bed, TV or fridge. Therefore, they must offer a wide range of fashion and other non-household items in order to make up for the loss of sales to a specialty store.''
But, he said, department stores now faced tough competition from specialty stores as well, with customers looking at boutique fashion outlets selling a different range from the department chain's own labels.
To make up margins, department stores have become landlords, as they rent vast amounts of space in the stores to leading fashion and cosmetic brands.
While concessions are nothing new, department chains are expanding the amount of space dedicated to these exterior brands.
As part of the reallocation of its categories, Myer is undertaking a
''re-laying'' of its Sydney City store that will see more fashion items spread across floors that once carried household items.
A spokeswoman confirmed that the retailer would focus on different ranges, such as kitchen appliances - to cater for the current interest in food shows - and less on general electronics.
''We are undertaking a considered windback of TV gaming, music and small electronics, and will focus on fashion and small kitchen items,'' she said.

Saturday, May 28, 2011

Kim Kardashian dazzles in white at Monaco fashion show... and accessorises with her new fiancé and $2 million ring

Kim Kardashian and her new fiancé Kris Humphries have made their first public appearance since announcing their surprise engagement this week.

And while her tall basketballer beau was certainly a handsome accessory for the reality star at a fashion show in Monte Carlo today, all eyes were certainly on her brand new ring.

Kim let the stunning $2 million diamond really stand out by choosing a simple white gown for the event.

Engaged: Kim Kardashian and Kris Humphries make their first public appearance since announcing their engagement at the Amber fashion show in Monaco

Kris, 26, towered over his diminutive fiancée in a sharp grey suit, blue shirt and sunglasses.

Kim tweeted from the event: 'Backstage at the Matthew Williamson fashion show! He is amaze! Prince Albert & Charlene here too! About 2 go on stage! I always get nervous.'

The New Jersey Nets star gallantly accompanied Kim to the fashion show, but she told fans that she would also be taking in some sport while in town.
Read more: http://www.dailymail.co.uk/tvshowbiz/article-1391677/Kim-Kardashian-dazzles-white-Monaco-fashion--accessorises-new-fianc-2-million-ring.html#ixzz1NeEMdkPQ
Sparkler: Kim dazzled in her sleek white gown, but it was hard to miss the $2 million diamond ring on her finger
'Anyone into car racing?' she tweeted today. 'Gonna watch the F1 grand prix races while we are here in Monaco! Should be fun!'

Kim and Kris flew out of LA just a day after announcing the news of their engagement, and the 30-year-old gave glimpse of the ring as she scooted through security at LAX.

But the reality star and model proudly flashed the enormous diamond in all its glory at the fashion show at the Meridien Beach Plaza.

The ring is thought to include two Bible passage inscriptions, both meaningful to Kim and Kris, TMZ claim.

More details of the romantic proposal are emerging following the couple's interview with People magazine.

'I didn't expect this at all,' she told the magazine. 'I was in such shock. I never thought it would happen at home, and I never thought now.'