Retail

ABU DHABI / Emirates Business Celebrating its 75th anniversary, Ikea is giving away instant cash prizes summing up to a total of AED 1,000,000 in giveaway prizes to lucky winners in the UAE, across their Dubai, Abu Dhabi and Al Ain stores. The retailer is awarding the shoppers scratch and win cards when they spend a minimum of AED400 in …

Bloomberg Amazon.com Inc. cracked down on fake reviews two years ago by prohibiting shoppers from getting free products directly from merchants in exchange for writing reviews. It was a major turning point for the world’s largest online retailer, which had previously seen “incentivised reviews” as a key way for consumers to discover new products. Amazon changed course because it realised …

Bloomberg Asos Plc has posted stronger-than-estimated pretax profit as Britain’s largest online-only fashion retailer posted double-digit sa-les growth while some of its rivals in retail struggle with volatile weather and digital-first competition. The shares rose as much as 12 percent in London, the most in more than three years. Retailers like Asos that produce and sell their own labels continue …

Bloomberg Walgreens Boots Alliance Inc Chief Executive Officer Stefano Pessina said it will be easier for his company to move online than it will be for Amazon.com Inc to copy its massive store network, predicting a long future for the pharmacy chain as it strikes new partnerships in health and retail. In a wide-ranging interview at Bloomberg’s headquarters in New …

Bloomberg Walmart Inc is looking to create an online store that would sell other companies’ video services, according to people familiar with the talks, opening up a new front in its fight with Amazon.com Inc. The world’s largest retailer has approached several media companies about reselling their streaming services, according to the people, who asked not to be identified because …

Bloomberg As Sears Holdings Corp goes through bankruptcy, retail landlords wondering how they could be impacted might want to look at a 2015 deal. Mall owner Macerich Co struck an agreement that year with the struggling department-store operator to redevelop a 300,000 square-foot store at Kings Plaza Shopping Center, a high-traffic mall in Brooklyn, New York. Three years and $100 …

Bloomberg US retail sales rose less than forecast in September, as a broad-based increase was overshadowed by a drop in restaurant receipts that may reflect the impact of Hurricane Florence. The value of overall sales rose 0.1 percent for a second month, compared with the median forecast of economists for a 0.6 percent gain, Commerce Department figures showed. So-called retail …

Bloomberg Sears Holdings Corp, the 125-year-old retailer that became an icon for generations of American shoppers, filed for bankruptcy, saddled with billions of dollars of debt racked up as it struggled to adjust to the rapid shift towards online consumption. The company filed for Chapter 11 protection from creditors with the US Bankruptcy Court in White Plains, New York, early …

Bloomberg Walmart Inc.’s investor day topics are likely to include updates on the Flipkart acquisition, select guidance metrics, the retailer’s e-commerce, Fresh, and international strategies. In addition, management will get a shot at easing investor concerns about wage pressures and Chinese tariffs at the 2018 Meeting for the Investment Community in Bentonville, Arkansas on Tuesday. Shares of the retail behemoth …

Bloomberg FamilyMart UNY Holdings Co., Japan’s second-largest convenience-store operator, will acquire a stake in discounter Don Quijote Holdings Co. in a deal valued at 212 billion yen ($1.9 billion), the company announced. Don Quijote will become the fourth-largest retailer in Japan by sales after it buys a remaining 60 percent stake in FamilyMart unit Uny that it doesn’t already own …