retail-trade
Top StoriesItaly’s Nexi Buys Intesa’s Croatian Retailer Payment Business for $189 Million
Top StoriesBritons Increase Shopping Trips, Trade Down to Navigate Inflation – Tesco Boss
Top StoriesUK Shares Slide as BoE Rate Hike Looms; Asos Tumbles on Profit Warning
Top StoriesIkea Puts Russian Factories up for Sale, Plans Job Cuts
Fashion Retailer H&M’s Sales Jump, but Investors Fret Over Margins
Date: June 15, 2022
By Anna Ringstrom STOCKHOLM (Reuters) -H&M, the world’s second-biggest fashion retailer, posted a forecast-beating 17% jump in March-May sales, joining main rival Inditex in reporting a rebound in demand as pandemic restrictions have eased. Sales were, however, still lower than before the pandemic began. Investors also voiced concerns over profit margins ahead of H&M’s full...
UK Travel and Leisure Firms Gets Summer Travel Boost
Date: June 15, 2022
By Sinchita Mitra and Amna Karimi (Reuters) -British retailer WH Smith and hotel group Whitbread are seeing business return to pre-pandemic levels, with pent-up demand for summer vacations boosting the leisure industry’s recovery from the COVID-19 crisis. WH Smith, which has shops at airports and railway stations, said on Wednesday its revenue in the third...
Forever 21 Takes Third Crack at China With New Bricks and Mortar Store
Date: June 15, 2022
By Casey Hall SHANGHAI (Reuters) – American fast fashion retailer Forever 21 is making its third tilt at the China market, with plans to open a physical store in the country later this month. The brand said on social media platform WeChat that it would open a store “in June” at Jingjiang Impression City shopping...
Tesco to Give Snapshot of UK Consumer Mood as Outlook Darkens
Date: June 14, 2022
By James Davey LONDON (Reuters) – The fragile state of the British consumer will be laid bare this week when Tesco, the country’s biggest retailer, updates on trading amid a worsening cost of living crisis. When Tesco, which has more than a 27% share of Britain’s grocery market, reported annual results in April, CEO Ken...
EU Cartel Raids Target Fashion Designers Proposing Sales Periods, Discount Changes – Sources
Date: June 14, 2022
By Foo Yun Chee BRUSSELS (Reuters) -EU antitrust regulators, which raided some fashion companies last month, are focusing on a group of designers who two years ago called for changes in sales periods and discounts, people familiar with the matter said. The European Commission, which did not name the companies nor the countries in which...
Nearly Half of Japan Firms See Weak Yen as Bad for Business – Survey
Date: June 14, 2022
TOKYO (Reuters) – Nearly half of Japanese companies see the weak yen as bad for their business, a private survey showed on Tuesday, suggesting the currency’s recent sharp decline is hurting business sentiment and clouding the economic outlook. The yen’s decline to a 24-year low against the dollar is inflating the cost of raw material...