retail-trade
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German Retailers More Pessimistic in Holiday Season, Ifo Says
Date: December 20, 2024
By Maria Martinez BERLIN (Reuters) – The business climate index in Germany’s retail sector fell slightly in normally consumer spending-heavy December, as retailers assess their current situation as somewhat worse than in November, the Ifo Institute said on Friday. Business expectations for the coming months also declined slightly, Ifo added. This year was very challenging...
UK Consumers Cautiously Shop More After Pre-Budget Slump
Date: December 20, 2024
By William Schomberg LONDON (Reuters) -British retail sales rose by a weaker-than-expected 0.2% in November, according to official data which suggested consumers had overcome their worries about the new government’s first budget but added to signs of only slow momentum in the economy. A Reuters poll of economists had forecast a monthly increase of 0.5%...
Luxury Labels Bulk up on Lower-Priced Goods to Appeal to Middle-Class Shoppers
Date: December 20, 2024
By Mimosa Spencer PARIS (Reuters) – Confronting a broad decline in demand for their usual fare, including $3,000-and-up handbags and $4,000-and-up cashmere jackets, major marketers of designer and luxury merchandise are broadening their product lines to emphasize scarves, belts, wallets and home goods priced at $500 and under. The companies’ renewed focus on more affordable...
France Fines 12 Household Appliance Firms $635 Million for Price Fixing
Date: December 19, 2024
PARIS (Reuters) – France’s antitrust agency has fined 12 household appliance makers and distributors, including Electrolux, Whirlpool and LG, a total of 611 million euros ($635 million) for price fixing between 2007 and 2014. “These practices reduced competition between distributors and kept prices artificially high for end consumers,” the competition authority said on Thursday. Ten...
Birkenstock Clog Sales Drive Fourth-Quarter Results Beat
Date: December 18, 2024
By Juveria Tabassum (Reuters) -Birkenstock beat market expectations for fourth-quarter results on Wednesday, helped by robust full-price sales of the German footwear maker’s pricey sandals in the U.S. and Asia. With fresh styles becoming a priority for consumers, particularly in its largest market in the Americas, Birkenstock’s sandals and closed-toe clogs alike have drawn new...
Home Improvement Retailer Kingfisher Sells Romania Business
Date: December 18, 2024
LONDON (Reuters) -European home improvement retailer Kingfisher will exit the Romanian market after agreeing the sale of its loss-making Brico Depot Romania business to Altex Romania for an enterprise value of 70 million euros ($74 million). It said the sale, including a network of 31 stores in 24 cities, distribution operations, and head office in...