Retail

Bloomberg Apple Inc. named its third retail chief in seven years, seeking to shake up store operations while casting about for the next big hit as the iPhone era wanes. Apple said company veteran Deirdre O’Brien will replace Angela Ahrendts, who served in the role for about five years. O’Brien is the first insider tapped to run the Apple division …

Bloomberg Retail sales growth in the US is expected to slow down in 2019 amid cooling economic conditions, according to the National Retail Federation, an industry trade group. Americans will boost retail spending by 3.8 percent to 4.4 percent this year, the NRF said. For comparison, preliminary estimates show that sales rose 4.6 percent in 2018, according to the group. …

Bloomberg Fullbeauty Brands Inc., the women’s plus-size retailer, set a record for the fastest US corporate bankruptcy after taking less than 24 hours to win court approval for its plan to restructure the company. The company had support from all its stakeholders when it filed for Chapter 11 status in the US Bankruptcy Court in White Plains, New York. Fullbeauty, …

Bloomberg Amazon.com and Walmart Inc.’s plans to dominate India’s online retail landscape have been ambushed by Prime Minister Narendra Modi’s political priorities heading into a tightening election. The vote, which must be held by May, has increased the influence of local retailers that lobbied for growth-crimping curbs on the US giants. On cue, India this month rolled out constraints on …

Bloomberg Australian retail sales suffered the biggest drop in 12 months and imports slumped by the most in almost seven years, raising doubts about the resilience of household spending. Sales fell 0.4 percent in December, compared with estimates for an unchanged reading, statistics bureau data showed on Tuesday. Imports dropped 6 percent in the month, the worst result since February …

Bloomberg Ocado Group Plc said it is talking to retailers about potential deals, renewing speculation about a possible partnership with Marks & Spencer Group Plc. The UK online grocer signed a number of technology licensing agreements in 2018, including a mammoth partnership with Kroger Co. in which the US supermarket chain agreed to buy a stake. Talk that Ocado might …

Dubai / Emirates Business Since the announcement of visa free travel for Emiratis to Ireland in early 2018, dnata Travel, the UAE’s longest-standing travel provider, has experienced a 63.5% overall increase in year on year travel from the UAE to Ireland. The report showed a dramatic 55% increase in travel arrangements made within 14 days in advance of travelling, including …

Dubai / Emirates Business A pioneering sustainability initiative introduced by leading retail brand, Splash, which encouraged householders to recycle their old clothes, resulted in over 11 tonnes of clothes being collected. Some of the collected items were distributed amongst underprivileged communities in Africa. The ‘Life After Fashion” campaign saw Splash working closely with UAE-based laundry firms to communicate message of …

Bloomberg Gone are the days when the only goal of a company was to persuade you to buy its product. Now, making you feel kinship with a brand—even love—takes precedence. At least, that’s what a group of influential startups believe. Eyewear maker Warby Parker, makeup seller Glossier, mattress retailer Casper—all of these companies are “direct-to-consumer” brands largely born on the …

Bloomberg The US retail apocalypse is far from over. While the collapse of storied merchants like Sears Holdings Corp. and Toys “R” Us Inc. has left stores shuttered across America, retailers still make up about a fifth of the universe of distressed borrowers. Consumer confidence is slumping. The head of the biggest mall owner in the US cautioned that more …