Retail News

Concrete beach lures Chinese to world's largest building By AFP Chengdu - Claiming to be the world's largest building by floor space, the 1,760,000 square metres of the New Century Global Center are a monument to growing Chinese consumer power, packed with shoppers -- and beach bathers a thousand kilometres from the coast.

Bangladesh garment industry fears for future after attack By AFP New Delhi - The horrific slaughter of diners at a Dhaka cafe has fanned fears that surging Islamist violence may imperil the giant garment industry in Bangladesh, which built its economy on cheaply supplying fashion to the world's big-name brands.

Ikea recalls millions of dressers in US, Canada after child deaths By AFP Washington - Furniture giant Ikea said Tuesday it was recalling more than 35 million chests and dressers in North America after six children died in the United States when they tipped over.

China's Cultural Revolution, now highly collectible By AFP Shanghai - At the "East is Red" shop in Shanghai, every nook and cranny is packed with memorabilia of China's Cultural Revolution, from small badges of Chairman Mao Zedong to gigantic posters of his iconic image.

Hundreds of Bangladesh garment factories still not safe: Group By AFP Dhaka - Only 24 of nearly 700 clothing factories inspected in Bangladesh meet international safety standards, a group of major brands said Wednesday, three years after a deadly building collapse exposed the hazardous state of the nation's workplaces.

Moscow bulldozes 100 'illegal' shops By AFP Moscow - Moscow city authorities early Tuesday bulldozed some 100 buildings housing small shops and cafes which they said violated municipal law, putting thousands of people out of work.

Ukraine wants an Ikea, 'symbol' of anti-corruption fight By AFP Stockholm - Ukraine's economy minister pleaded Wednesday for Ikea to set up shop in his country, saying it would show Kiev was serious about fighting the corruption that reportedly caused the furniture giant to ditch a previous Ukrainian foray.

China escalator swallows toddler's mother: Report By AFP Bejing - A woman was killed after she plunged through flooring over an escalator in a Chinese department store, reports said Monday, thrusting her toddler to safety as she fell to her death.

French retailer apologises for insulting its 'stupid' customers By AFP Paris - French high-tech retailer Boulanger apologised Saturday for vitriolic comments about its customers in its computer files and promised an internal investigation.

Greek bank shutdown cost economy 3 billion euros: Report By AFP Atenas - The three-week shutdown of Greek banks has cost the country's struggling economy some 3.0 billion euros ($3.3 billion) not counting lost tourism revenue, a report said Saturday.

China says spreading sex tape against 'socialist values' By AFP Bejing - Chinese Communist authorities have said the distribution of a sex tape purportedly shot in a fitting room in one of Beijing's trendiest shopping malls is "against socialist core values", after the footage went viral.

French forces evacuate 18 people from Paris mall after armed raid By AFP Villeneuve-la-garenne - Special forces evacuated 18 people from a mall near Paris Monday after gunmen attacked a Primark store inside, in what is believed to be an attempt to rob the shop, police said.

Macy's and Costa Rica dump defiant Trump By AFP New York - Macy's became the latest company to sever ties with Donald Trump, and Costa Rica decided to pull out of his Miss Universe competition following the mogul's controversial remarks about Mexican immigrants.

Ramadan rush brings business windfall to London By AFP London - Inside an upmarket London department store a genteel Middle Eastern woman glides by, trailing flowing robes and the distinctive smell of oud, a perfume popular with Arab women.

Frugal customers called 'HENRYs' hurting high-end retailers By Business Insider Nearly-rich customers are increasingly unwilling to spend — and that's bad news for the US economy. This has led to disappointing earnings reports from aspirational companies like Ralph Lauren, Coach, and Michael Kors.

First garment factories declared safe in Bangladesh By AFP Dhaka - Two garment factories in Bangladesh on Thursday became the first to be declared safe under a scheme set up to prevent a repeat of one of the world's worst industrial disasters.

3 companies competing with major ticket retailers By Jenna Cyprus In North America, concert ticket sales alone surpassed $6 billion in 2014, as technology continues to transform the ticket purchase process.

Review: 'Retail Survival of the Fittest' could change the retail business By Anca Dumitru In her newly released eBook, retail expert Francesca Nicasio covers vital aspects of the industry, from understanding consumers’ needs and increasing customer loyalty to leveraging data and implementing an omnichannel retail strategy.

From shirts to aprons, 'Je Suis Charlie' sells online By AFP Paris - Products with the "Je Suis Charlie" logo, from t-shirts to kitchen aprons, are being sold widely online, presenting a moral quandary for ecommerce stores after this week's deadly attacks in Paris.

French court blocks renovation of iconic Paris building By AFP Paris - A French appeals court on Monday blocked the renovation of the iconic former Parisian department store La Samaritaine, saying its modern makeover would clash with its historic surroundings.

U.S. protesters force closure of mall near Ferguson By AFP Saint Louis - U.S. protesters forced a crowded St Louis mall to close for around two hours on Friday, demanding a boycott to post-Thanksgiving shopping and justice for an unarmed black teenager killed by police.

U.S. shoppers go in for the kill on 'Black Friday' By AFP Leesburg - The traditionalists don't like it, but the "Black Friday" shopping frenzy is as much a part of the Thanksgiving holiday in the United States as turkey and pumpkin pie. And it's only Thursday.

Amazon takes Tesco’s spot on top of UK entertainment market By Simon Crompton The American-based online retailer Amazon surged past its rival Tesco during the third quarter of this year. The period, which ended with September, saw Amazon holding 22.5 percent of the entertainment market.

Sears Canada names new acting-CEO By Nicole Weddington Sears Canada Inc. named Ronald Boire of the American-based Sears Holding to replace Douglas Campbell as acting president and CEO. This is not the first time that the Canadian-based company has recruited from its American partner.

Seattle-based Nordstrom will open discount store in Albany area By Simon Crompton Seattle - Nordstrom has announced plans to open two new stores in upstate New York. The first will be located at the Colonie Center in Albany. The other is planned for Buffalo.

Luxury U.S. retailers court Canadian consumers By Nicole Weddington After years of being left out in the cold, Canadian consumers of upscale brands will now see big changes. Luxury retail is making its way north in a move to boost bottom lines and satiate a hungry market.

Kildonan Place undergoes rarely seen ownership change By Nicole Weddington In a move to help strengthen alternative investments in its retail portfolio, Ivanhoe Cambridge announced the sale of Kildonan Place to H&R Real Estate Investment Trust.

Op-Ed: Video — Advanced vending catching on worldwide By Walter McDaniel Japan used to have the market cornered on unusual vending machine practices. The rest of the world is catching up though and we are going to explore the evidence for that.

Tesco seeks Asia pick-up after fresh profit setback By AFP 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.

Challenge to Australia tobacco law could have vast impact By AFP Geneva - A landmark challenge to Australia's plain-packaging law for cigarettes and cigars at the WTO could have vast implications for how governments square the rules of trade with radical public health measures.

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