Retailers head East...The Middle East

With new, ever larger retail developments in Riyadh, Dubai, Jeddah and elsewhere opening on a regular basis, the Middle East is the fastest growing global retail market, a fact confirmed by new research undertaken by leading Middle East retail software supplier LOGO Business Solutions. “The Middle East is in the midst of a retail boom. Consumer love foreign brands. Add to this expanding populations and new shopping malls and the region’s retail sector is now worth an incredible US$20 billion per annum,” commented Ali Guven, CEO of LOGO.

Does this mean that some of the leading retailers in the country could consider the Middle East for new stores...mmmm? Stay Tuned

Source: Al Bawaba

BRAG takes a break with fun day at Centenary in Hackettstown

Internships offer minority students retail experience

HACKETTSTOWN, NJ (June 21) -- Dozens of young minority interns gathered at Centenary College in Hackettstown last week for a rare opportunity to relax.
The occasion was an annual retreat sponsored by the Black Retail Action Group for members of its summer internship program.
Based in New York, BRAG was founded in 1970 to increase networking opportunities for black retailers and to provide practical experience for black and other minority youth.
Each year, students are selected for summer internships at up to 13 companies, including Bloomingdale's, Phillips-Van Heusen and Saks.
The retreat was organized primarily by Angela Rodriguez, a former intern who serves on BRAG's board and is a Centenary College graduate. Rodriguez is hoping to establish the BRAG program on the Centenary campus.
Gail Monroe-Perry, president of BRAG since 2004, is proud of how far the group has come in the retail business.
She cited its efforts to help entrepreneurs with business development and to give retailers and retail managers the chance to network with each other.
An all-volunteer group, BRAG relies on the support of donors and benefactors.
"It's really because of their commitment and willingness to give something back that we've been able to stay around for 37 years," Monroe-Perry said.
25 internships a year
The internships command a great deal of BRAG's attention. "We give an average of 25 internships every year, and it's split between high school and college students," Monroe-Perry said.
J.J. Thomas, executive director of BRAG's internship program, continues to run the 11-week program.

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Paris Highlights: Fall 2007

We wanted to get you something interesting from overseas. Enjoy the Paris Highlights: Fall 2007

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Paris Highlights: Fall 2007

Big Retail Stocks Take "Markdown"

Shares of the nation's big-format stores, including department stores and discounters, fell Friday as investors shrugged off a stronger-than-expected read on the economy to focus on the weakening housing market and tightening credit.
The best barometer of the country's economic fitness - gross domestic product - rose at a 3.4 percent annual rate in the second quarter, the Commerce Department reported Friday.
Investors were also little swayed by a stronger-than-anticipated consumer sentiment reading. The Reuters/University of Michigan index rose to 90.4 in July from 85.3 in June.

The Conference Board is slated to release its consumer index for July on Tuesday.
Here is how the stocks of some key big-format stores fared Friday.

Wal-Mart Stores Inc. (nyse: WMT ) down 88 cents at $45.94

J.C. Penney Co. (nyse: JCP ), down 95 cents at $68.70

Target Corp. (nyse: TGT ), down 12 cents at $62.10

Sears Holding Corp. ,down $5.84 at $136.20

Costco (nasdaq: COST ) Holding Corp. down 48 cent at $58.57

Macy's Inc. (nyse: M ), down $1.14 at $36.90

Home Depot Inc. (nyse: HD ), down 55 cents at $36.75

Source: Forbes

GAP Names New CEO

Clothing retailer Gap Inc. is pinning its future to a veteran Canadian merchant from the retail worlds of drug stores, books and food.
Glenn Murphy is a fashion industry outsider, but the company that built its $16 billion empire on khakis, T-shirts and jeans is banking on him.
After a seven-month search, Gap on Thursday named Murphy, 45, as its new chairman and chief executive.
Murphy's retail experience spans more than 20 years, and he most recently served for six years as the chairman and CEO of Shoppers Drug Mart, the largest drugstore chain in Canada. During his stint there, he led that chain through an unprecedented period of growth and doubled its earnings per share, Gap said.
Before that, Murphy was president and CEO of Chapters, Canada's leading book retailer, and he held various management positions at Loblaw Companies Ltd., Canada's largest food distributor and supermarket chain.

Source: Businessweek

Who will be this year's BRAG Scholarship Recipients and Honorees?

You have to wait until Friday, October 26th to find out.

Tickets move FAST so be sure to get your tickets EARLY.

Call the BRAG office for more info 212.319.7751

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