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Retail News

Tesco seeks Asia pick-up after fresh profit setback

London - Supermarket giant Tesco announced a second drop in annual profits in a row on Wednesday, leaving Britain's biggest retailer hoping that recent expansion into India and China can offset weakness in Europe.
In the Media by Ben Perry (AFP)

Cuba, Dominican Republic set up WTO fight over Australia tobacco law

Geneva - Attempts by tobacco-producing nations to sink a landmark law in Australia requiring plain packaging for cigarettes and cigars gained pace Tuesday as Cuba and the Dominican Republic stepped up their fight at the World Trade Organization.
In the Media by AFP

US retail sales surge 1.1% in March

Washington - US retail sales leaped higher in March, giving further evidence of stronger economic activity after a particularly brutal winter, government data showed Monday.Retail and food services sales surged 1.1 percent from February to $433.
In the Media by AFP

Protest in Athens against Sunday shopping

Athens - Police in Athens scuffled with protesters opposed to shops opening on Sunday, a week before Orthodox Easter.The incident occurred on the capital's main shopping street.
In the Media by AFP

Chinese group acquires Britain's House of Fraser

London - Chinese conglomerate Sanpower has agreed to buy a majority stake in British department store House of Fraser in a deal worth £480 million (578 million euros, $800 million), according to a joint statement.
In the Media by AFP

Wal-Mart launches price-slashing organic foods

New York - Wal-Mart announced Thursday a deal with organic foods pioneer Wild Oats to sell discounted organic products in its US stores, a move expected to shake up the booming sector.
In the Media by AFP

eBay ends Icahn dispute with board appointment

New York - Online retail giant eBay said Thursday it had reached a deal with activist investor Carl Icahn, who had demanded a spinoff of the payment division PayPal.
In the Media by AFP

Marks & Spencer reports rising Q4 sales

London - High street retailer Marks & Spencer posted rising fourth-quarter sales on Thursday, boosted by strong performances for clothing and food, and also at its international division. Sales climbed 1.
In the Media by AFP

Walmart grows wholesale business in India

New York - US retail giant Wal-Mart Stores plans to add 50 new wholesale stores in India as it seeks growth in a key market where it has been unable to launch retail stores.
In the Media by AFP

Australia's David Jones stores welcomes $2bn South African bid

Sydney - David Jones announced Wednesday it intends to recommend a takeover offer from South African retailer Woolworths that values the Australian department store operator at about $2 billion.
In the Media by AFP
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