Retail

Amazon urges call center staff to work from home

  Bloomberg Amazon.com Inc. is encouraging customer service employees at some US call centers to work from home, signalling the company’s preference for remote work in certain roles that would help save money on real estate, according to people familiar with the matter. The shift is part of a plan to close multiple call centers around the country, including one ...

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Cartier plans US store expansion

  Bloomberg Cartier, the French maker of upscale watches and jewelry, plans to open as many as 10 stores in the US in the coming years — another sign that European luxury brands are betting American demand will remain robust. The company, owned by luxury conglomerate Richemont, is likely to turn a temporary shop in Palm Beach, Florida, into a ...

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Inflation in UK shops hits record high as pound falls

  Bloomberg Prices in British shops hit a fresh record high, heaping more pain on consumers grappling with soaring energy and housing bills. The British Retail Consortium said shop price inflation accelerated to 5.7% in September, topping the previous 5.1% record increase in August. This is highest level of inflation since the index began in 2005 as retailers pass on ...

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H&M mulls charging for online returns

  Bloomberg Swedish fashion retailer H&M is considering charging for online returns amid a series of efficiency measures to reduce surging costs. The company is trying out the fees in Norway and the UK in coming days, embracing a measure that rivals have turned to as well, Chief Executive Officer Helena Helmersson said. “We are testing it as a possible ...

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Amazon raises hourly wages to $19 an hour

  Bloomberg Amazon.com Inc. announced a pay increase for hourly workers in the US that it says will take average starting wage for most front-line employees in warehousing and transportation to more than $19 an hour. The company’s minimum level of $15 an hour for all hourly workers in the US remains unchanged. For jobs in Amazon’s customer fulfilment and ...

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Next cuts guidance as inflation weighs on UK consumers

Bloomberg Next Plc issued its second profit warning this year due to soaring inflation and a devaluation of the pound which has undermined consumer confidence. The British clothing and housewares chain said that profit for the year will total £840 million ($905 million), compared with previous guidance of £860 million. Full-price sales in the second half are expected to drop ...

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Hermes Kelly bag sells for $346,802 at Paris auction

  Bloomberg A Hermes handbag fetched a record price for a Sotheby’s auction, latest evidence that rare luxury items are increasingly seen as stores of value by investors and wealthy buyers. The Himalaya Retourne Kelly 25 bag sold for €352,800 ($346,802) in a Paris auction, Sotheby’s said. The crocodile-skin handbag in mother-of-pearl white, reminiscent of a snowy mountain landscape, sold ...

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Rolex watches on sale in UK for US visitors

  Bloomberg The crash in the value of sterling has put Rolex and other luxury watches at discounts of as much as 19% for US visitors lucky enough to get their hands on the coveted timepieces. Promised policy changes by the new UK government including a plan to reintroduce Value Added Tax rebates on goods bought by tourists could even ...

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Apple ditches iPhone production increase

  Bloomberg Apple Inc. is backing off plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialise, according to people familiar with the matter. The Cupertino, California-based electronics maker has told suppliers to pull back from efforts to increase assembly of the iPhone 14 product family by as many as 6 ...

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Just Eat jumps after boosting profit outlook

  Bloomberg Just Eat Takeaway.com NV’s shares soared after the company announced it expects to turn profitable this year, earlier than expected, after cutting expenses on delivery costs and operations. Just Eat expects to generate positive adjusted earnings before interest, taxes, depreciation and amortization in the second half of this year, an improvement compared with an adjusted Ebitda loss of ...

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