Retail

Bloomberg Best Buy shares surged to an all-time high as red hot demand for Nintendo’s latest video game console helped the US electronics retailer deliver a big sales and earnings beat for the first quarter. Shares in the Minnesota-based company gained 21.5 per cent — its biggest one day rise in at least nine months — to $61.25 after it …

Emirates Business As a brand that is committed to delivering high end products and services, Huawei Consumer Business Group, is continuously looking for ways to satisfy their customer’s needs. This Ramadan, Huawei seeks to strengthen its relationship with its loyal customers by offering them special services during the whole month of Ramadan. The offers include a 50% discount on both …

Bloomberg Sears Holdings Corp. rallied after posting its first quarterly profit since 2015, bringing a ray of optimism to a retail chain struggling to regain its relevance. First-quarter net income amounted to $244 million, compared with a loss of $471 million a year earlier. The gain reflects efforts by Chief Executive Officer Eddie Lampert to sell assets and raise cash. …

Dubai / Emirates Business L’Oréal Africa Middle East has won the Retail Supply Chain Management of the Year award at the Logistics Middle East Awards 2017 during a ceremony held at Grosvenor House Hotel in Dubai Marina. The Retail Supply Chain Management category of the Logistics Middle East Awards considers brands and service providers that are innovating new methods to …

Bloomberg Target Corp. agreed to pay $18.5 million to settle investigations by dozens of states over a 2013 hack of its database in which the personal information of millions of customers was stolen. It’s the largest multistate accord ever reached over a data breach, according to New York Attorney General Eric Schneiderman. The hack, which occurred during the busy holiday …

Dubai / Emirates Business Rasasi Perfumes, one of the leading perfume brands in the Middle East, opened its doors to customers on Wednesday after officially opening its flagship store in City Centre Mirdif. Focusing on a superior customer experience, Rasasi have enhanced the store to create a relaxed and enjoyable environment for their customers. The gold and ivory colour palette …

Bloomberg Ikea Group named Jesper Brodin, currently responsible for the development of the Swedish furniture retailer’s product range and supply chain, as chief executive officer after Peter Agnefjall decided to step down. Brodin, a 48-year old former assistant to Ikea founder Ingvar Kamprad who has worked at the maker of the Billy bookcase and Klippan sofa for 22 years, will …

Bloomberg Lululemon Athletica Inc. is in advanced talks for a one-year lease at a store on Manhattan’s Fifth Avenue, helping to fill space in an area that has recently been plagued by retail vacancies, according to three people with knowledge of the matter. The active-wear maker is taking 8,000 square feet (743 square meters) at 597 Fifth Ave., across the …

Bloomberg Wal-Mart Stores Inc. gained momentum in its fight against Amazon.com Inc., with its online sales growing at their fastest clip in at least five years. The e-commerce business saw gross merchandise volume — a measure of all the goods it sells online — soar 69 percent in the first quarter, Wal-Mart said. Total revenue climbed 1.4 percent to $117.5 …

Bloomberg Foot Locker Inc. suffered its worst stock decline in more than eight years after first-quarter results missed analysts’ estimates, an outcome the retailer blamed in part on slow income-tax refunds. The shares tumbled as much as 17 percent to $58.13, the biggest intraday plunge since the financial crisis was underway in November 2008. The athletic-shoe chain blamed “unprecedented challenges” …