Economists say a combination of natural and man-made disasters led to unexpectedly weak U.S. retail sales in the crucial two months before Christmas. MasterCard Advisors SpendingPulse, which tracks retail spending, reports that sales rose just 0.7 percent over the same October-to-December period last year. MasterCard says October’s Superstorm Sandy affected sales in the Northeast while […]
Analysts: Bad Weather, Violence Weaken Pre-Holiday Retail Sales
Posted December 25th, 2012 at 7:45 pm (UTC-5)
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Swedish Retailer H&M Urges Higher Wages for Bangladeshi Workers
Posted September 5th, 2012 at 5:30 am (UTC-5)
Swedish clothing retailer H&M is urging Bangladesh’s government to raise textile workers’ minimum wage. H&M said Wednesday that its CEO, Karl-Johan Persson, made the request during a meeting with Bangladeshi Prime Minister Sheikh Hasina in Dhaka earlier this week. The fashion giant says it is urging Bangladesh to consider an annual review of the local […]
India Lifts Restrictions on Some Foreign Retailers
Posted January 10th, 2012 at 1:20 pm (UTC-5)
The Indian government is allowing foreign single-brand retailers like Sweden-based IKEA and U.S.-based Starbucks to open stores in the country without local partners. Tuesday’s decision allows such companies to own 100 percent of stores in India, previously capped at 51 percent. The single-brand retailers will need to source 30 percent of their goods from smaller […]
India Suspends Plan to Allow Foreign Retailers
Posted December 7th, 2011 at 1:50 am (UTC-5)
India’s government has suspended a plan to open the country’s retail sector to foreign companies, following weeks of protests that have brought parliament to a halt. The government said Wednesday the plan will remain on hold until the stakeholders can reach a consensus. Opponents say allowing foreign retail chains, such as Walmart, will threaten the […]
India Stocks Plunge Over Reported Delay to Retail Plan
Posted December 5th, 2011 at 12:45 pm (UTC-5)
Stocks prices for Indian retailers took a plunge amid reports the country’s ruling Congress party will delay plans to open the country’s retail sector to foreign investors. Shares in local retailers fell upwards of 10 percent in Monday’s trading as the government sought to clarify its policy on foreign direct investment. A top leader of […]
Shop Owners Protest India Retail Reform
Posted December 1st, 2011 at 8:25 am (UTC-5)
Shopkeepers around India have gone on strike to protest the government’s decision to allow foreign retailers into the country. The strike Thursday closed markets in New Delhi, Kolkata and other cities, as small shop owners protested the policy they say will force them out of business. Activists from the opposition Bharatiya Janata Party, which is […]
India Deadlocked on Retail Reform Bill
Posted November 29th, 2011 at 7:10 pm (UTC-5)
The Indian government failed Tuesday to win support from parliament on a measure to let foreign retailers into the country. A meeting of lawmakers from all parties broke up with no deal. The Indian Cabinet approved a measure last week which would let global firms own up to 51 percent of so-called multi-brand retail companies […]
India Remains Deadlocked on Retail Reform
Posted November 29th, 2011 at 2:40 pm (UTC-5)
The Indian government failed Tuesday to win support for a reform allowing foreign retailers into the country. A meeting of lawmakers from all parties broke up without a deal being reached, forcing India’s parliament to adjourn amid protests against the reform. The Indian Cabinet last week had approved a measure allowing global firms to own […]
India Remains Deadlocked on Retail Reform
Posted November 29th, 2011 at 8:10 am (UTC-5)
The Indian government failed Tuesday to win support for a reform allowing foreign retailers into the country. A meeting of lawmakers from all parties broke up without a deal being reached, forcing India’s parliament to adjourn amid protests against the reform. The Indian Cabinet last week had approved a measure allowing global firms to own […]
US Cyber Sales Expected To Hit Record Monday
Posted November 28th, 2011 at 11:20 am (UTC-5)
U.S. consumers are expected to set a new record for on-line sales Monday as retailers offer deep discounts to lure shoppers buying things for Christmas gift-giving in late December. Experts and investors watch retail sales closely because consumer demand drives about 70 percent of U.S. economic activity. The U.S. economy is the world’s largest, and […]
