retail-trade
BusinessOnline Retailer Shein’s 2023 Sales Hit $2 Billion in UK
Top StoriesLevi Strauss Shares Fall on Weak Holiday-Quarter Forecast
BusinessBritain’s Tesco Lifts Profit Outlook After Strong First Half
BusinessBritain’s Tesco Lifts Annual Profit Forecast After Strong First Half
Sainsbury’s Boss Looks to UK Budget to Lift Spending Gloom
Date: October 2, 2024
By James Davey COBHAM, England (Reuters) – Britons bruised by a cost of living crisis will not start spending strongly again until the new Labour government sets out its tax and spending plans, and interest rates fall further, the boss of supermarket Sainsbury’s said. Chief Executive Simon Roberts told Reuters that despite falling inflation, higher...
French Retailer Casino to Present New Strategy With Heavy Job Cuts Expected
Date: October 1, 2024
PARIS (Reuters) – French supermarket chain Casino will set out its new strategy in November, with heavy job cuts still likely, it said on Monday. The final number of job cuts could be fewer than 3,000, depending on the outcome of takeover negotiations currently under way, the company said in a statement. “Sale negotiations...
Discounter Pepco’s Sales Hurt by Supply Chain Disruption
Date: September 26, 2024
By James Davey LONDON (Reuters) -European discount retailer Pepco Group said its fourth-quarter underlying revenue was lower than the prior year, partly reflecting ongoing supply chain disruption. The Warsaw-listed owner of the Pepco, Poundland and Dealz brands said on Thursday that while total revenue for its fiscal year to date, the 51 weeks to...
Polish Fashion Retailer Lpp Confirms Annual Revenue Goal of up to $5.5 Billion
Date: September 26, 2024
GDANSK (Reuters) – Poland’s largest apparel retailer LPP confirmed its full-year revenue target of 20-21 billion zlotys ($5.2-5.5 billion) on Wednesday after posting a flat second-quarter net profit, as rising costs of stores and distribution offset higher sales. BY THE NUMBERS Second-quarter net profit edged up a little over 1% to 444 million zlotys...
Miniso Shares Slump on Plans to Buy Stake in Yonghui Superstores
Date: September 24, 2024
HONG KONG (Reuters) -Shares of Miniso Group Holding plunged as much as 39.2% to HK$20 ($2.57) on Tuesday after the company said it would take a stake in embattled Chinese supermarket operator Yonghui Superstores. The lifestyle products retailer’s shares plunged to their lowest level since December 2022 in their biggest one-day percentage drop since...
Nike Veteran Hill to Replace Donahoe as Ceo; Shares Jump
Date: September 20, 2024
By Juveria Tabassum, Nicholas P. Brown (Reuters) -Nike said on Thursday that former senior executive Elliott Hill will rejoin the company to succeed John Donahoe as president and CEO, as the sportswear giant shakes up its leadership amid efforts to revive sales and battle rising competition. The company’s shares rose 8% in after-hours trading. Hill...