Zara’s owner, Inditex, a fashion retailer, has reported quarterly profits in the three months from May to July even as Wuhan corona virus-wary consumers stayed away from city center shopping districts; sales however were down by 31%, compared to the… Read More ›
stores
Starbucks reopens many stores in Japan
On Tuesday, in a statement Starbucks Coffee Japan said, it is reopening many of its stores in Japan, including those located in Tokyo. Many stores however will be limited to take-out and drive-through services. Starbucks has nearly 1,550 stores in… Read More ›
Apple to reopen 25 U.S. stores this week
Continuing the gradual processing of re-opening its stores, late on Sunday Apple Inc said, it plans on reopening more than 25 of its branded stores in the United States later this week, in a development that will see Cupertino open… Read More ›
Canadian Coffee brewer Tim Hortons receives undisclosed investment from Tencent
On Tuesday, Canadian coffee brewer Tim Hortons said, its Chinese business has received an investment from Chinese tech giant Tencent. The development comes in the wake of Tim Hortons wanting to expand its footprint in the Chinese market. In a… Read More ›
Japan’s casual clothing chain Uniqlo to reopen 2 stores in Berlin
According to a spokeswoman from casual clothing chain Uniqlo, the company plans on reopening two of its stores in Berlin sometime this week. With this Uniqlo has become the first company in Europe to resume business following a temporary closure… Read More ›
Walmart to hire150,000 workers to help shoppers during Wuhan coronavirus outbreak
In a statement Walmart Inc said, it will hire more than 150,000 hourly workers in the United States to help shoppers during the Wuhan coronavirus pandemic. Walmart’s rival Amazon.com Inc has also announced a similar move saying it would hire… Read More ›
Three major U.S. retailers pull J&J’s baby talc powder from shelves
If the development has cascading effect and more retailers pull J&J’s baby talc powder from shelves, it could significantly impact its earnings. Already J&J is facing lawsuits over allegations of asbestos in its talc. Following U.S. healthcare conglomerate Johnson &… Read More ›
Britain’s competition authority likely to rule on Sainsbury’s-Asda $66 billion merger in early March
With Britain’s Competition and Markets Authority taking on a more active interventional approach in its latest ruling, the Sainsbury’s-Asda deal, which could create Britain’s biggest retailer, faces headwinds from multiple angles. Although Mike Coupe, Asda’s CEO was taped on camera… Read More ›
French supermarket retailer Casino to divest assets worth $567 million
The move is part of Casino’s debt-financing strategy. On Monday, Casino, a French supermarket retailer, stated it is in the process of divesting assets so as to slash its debts. It aims to sell 26 of its brick-and-mortar stores in… Read More ›
Henri Bendel’s brick-and-mortar stores and website to close on Feb 1, 2019
The closure of Henri Bendel by L Brands Inc, its parent, brings an end to a company which opened its first store in New York’s Greenwich Village in 1895. The owner of Victoria’s Secret – L Brands Inc – stated… Read More ›