Bloomberg Target Corp. delivered another sign that its comeback is taking hold as stronger online sales helped brighten the retailer’s outlook. Second-quarter sales topped analysts’ estimates, and the company boosted its forecast for the rest of the year. That helped soothe investors after a rocky earnings season for retailers, sending Target shares up as much as 4.9 percent. The results ...
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Amazon’s ‘eclipse glass’ row trips up Wright
Bloomberg Jason Wright wanted to make a quick buck selling eclipse-viewing glasses on Amazon.com Inc. before the moon blocks the sun in a rarely seen cosmic spectacle next week. He loaded up his credit cards to buy thousands of pairs from a manufacturer, enlisted family and friends to pack and ship them from his parents’ Salt Lake City home and ...
Read More »Trump says Amazon does ‘great damage’ to retailers
Bloomberg US President Donald Trump once again unloaded on Amazon.com Inc., tweeting that the company is hurting other retailers and implying that it’s killing industry jobs across the US. Amazon is causing “great damage to tax paying retailers,†Trump said in a Twitter post Wednesday, causing shares in the online retailer to fall as much as 1.2 percent in early ...
Read More »Retailers enter Iceland in end to price tyranny
Bloomberg A common complaint heard on the streets of Reykjavik—apart from the weather—is about prices. A standard burger will set you back as much as $20, while branded sneakers cost double what they sell for in the US. That’s about to change. Nearly eight years after McDonald’s pulled out of Iceland due to spiraling costs, international retail giants are now ...
Read More »Broad-based advance in US retail fuels spending
Bloomberg US retail sales advanced in July by the most this year, with widespread gains from department stores to building materials outlets that signal a robust start to consumer spending in the third quarter, according to Commerce Department figures released Tuesday. Overall sales climbed 0.6% (est. 0.3% gain) after 0.3% advance in prior month. Sales excluding autos and gasoline rose ...
Read More »Dickies deal puts spotlight on $30bn workwear market
Bloomberg Coveralls and painter’s pants are trouncing haute couture. As teen fashion and menswear all struggle to maintain sales growth, one segment of the apparel business is showing surprising strength this year: industrial workwear. VF Corp.’s $820 million acquisition of Dickies parent Williamson-Dickie Manufacturing Co., which also makes hospital garments, is the latest sign of health in the $30 billion ...
Read More »Rasasi Perfumes expands retail footprint in UAE
DUBAI / EMIRATES BUSINESS Rasasi Perfumes, one of the leading perfume brands in the Middle East, expands its retail footprint in the UAE with new store opening at Mercato shopping mall, on Monday. The new store is the latest in a series of refurbishments and store openings for the home-grown business, as it experiences a period of extended and trend ...
Read More »Hawking TVs on tinder helps fuel rally for Brazil stock
Bloomberg For starters, she’s an avatar. Even so, within 12 hours of hitting the dating app last June, the pretty-if-somewhat-stiff brunette had garnered more than 150,000 matches. Her admirers, both men and women, were on the hunt not for a hookup so much as a good deal on refrigerators and TVs. Onlookers from the developed world might be tempted to ...
Read More »Macy’s, Kohl’s renew fears of intractable retail slump
Bloomberg A fresh round of sales declines at Macy’s Inc. and Kohl’s Corp., though less severe than Wall Street had feared, is renewing concerns that the department-store industry can’t pull out of a crippling slump. Shares of both retailers declined last week after the quarterly results failed to assure investors that a comeback was taking hold. Same-store sales— a key ...
Read More »Ivanka Trump brand to open NY store later this year
Bloomberg Ivanka Trump is trying her hand at brick-and-mortar retail—again. The first daughter’s brand will open a store in Trump Tower on Manhattan’s Fifth Avenue, according to signage in the building. The location is slated to debut later this year, giving the tourists who throng to the site a chance to buy Ivanka Trump merchandise. It’s unclear what products will ...
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