Retail Sector

Beef Prices Touch 27-year high in United States

Beef Prices Touch 27-year high in United States

The beef prices in United States have touched 27-year high as the population of cattle in the country has reached record lows. The media reports suggest that the prices are not like to reduce anytime soon. As the grilling season starts, the demand for beef is likely to go higher, keeping the prices at record highs.

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Curtains down for 225 Staples stores in North America

Curtains down for 225 Staples stores in North America

The downward spiral of the global economy has spelt doom for many leading businesses in the US, with the latest casualty being Staples. The leading stationery chain has announced that 225 stores in Canada and the United States will down their shutters due to a steep drop in the sales.

The announcement resulted in drop of the stock prices as well. At the New York stock exchange, Staples shares witnessed a drop of 16% after the decision was announced by the company.

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Luxury Group Richemont Plans Expansion

Johann Rupert's Luxury Group Richemont Plans Expansion

Luxury retail group Compagnie Financière Richemont SA is planning major expansion to keep the business momentum for IWC watches and Cartier jewelry. The sales grew by 9 percent against analyst estimates of 11 percent growth in revenue.

Bellevue, Switzerland-based Richemont is headed by South African billionaire Johann Rupert. The company has given positive guidance for year 2014. The revenue for third quarter stood at $4 billion. The company has also registered forex losses due to fluctuation in currencies.

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Menendez Wants to Hold Companies Accountable After Target Data Breach

Senator Robert Menendez Wants Action Against Target

According to a new report, Senator Robert Menendez wants the federal government to take a close look at the security system of the companies, which have failed to protect records of millions of its users. He has urged regulators to check if the companies are capable of protecting personal and secret data of consumers, after the personal information of the Target customers has been stolen by credit-card scammers.

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Traditional Boxing Day Sales Likely to Provide Boost to High Street Retailers

Shoppers are always enticed by huge discounts and retailers offer attractive discounts and deals in shopping season to generate high sales volume. Boxing Day, Cyber Monday and some other events help retailers register impressive numbers.

Amazon, World’s Biggest Online Retailer, Sold 37 million Items on Cyber Monday

Amazon, World’s Biggest Online Retailer, Sold 37 million Items on Cyber Monday

Amazon, World’s biggest online retail company, has been in highlights from past many years regarding its sale of products on the eve of Christmas. It has been reported that the company has sold approximate of 37 million items at speed of 426 items in a second on cyber Monday.

The company released in 2010, that it earned maximum profit by selling more than 13.7 million items on 29 November. At that time, the company had crossed all its records and sold about 158 items in one second.

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Target offers 10% Discount after Second Biggest Credit Card Data Breach in US History

Target Credit Card Data Breach CEO Gregg Steinhafel

Second largest US retailer Target offered 10 percent discount to shoppers a day after the company announced data breach compromising credit and debit card information of nearly 40 million consumers. The company said that consumers who used their cards at Target stores between November 27 and December 15, have been impacted by the data breach.

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Massmart-Walmart Deal In Danger

Massmart-Walmart Deal In Danger

It seems that road is tough ahead of the business association of the Massmart-Walmart, as opposition has grown against the deal. It’s being said that though Wal-Mart had assured that it would create as many as 15,000 jobs in South Africa within five years, there are very weak chances that it could actually happen.

As the news of the merger worth 16.5 billion-rand for a stake of 51% in Johannesburg-based retailer Massmart hit the contours of the community, words of opposition were being heard to derail the project, which could put the future of local retail chains into threat.

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Trade Unions Warn Against Consequences of Wal-Mart Deal

Trade Unions Warn Against Consequences of Wal-Mart Deal

Ebrahim Patel, the Economic Development Minister, along with Rob Davies, the Trade and Industry Minister and Tina Joemat-Pettersson, the Forestry and Fisheries Minister have lodged an application in Competition Appeal Court, as an attempt to estimate and hold forecasted 51% Massmart overtake by Walmart's.

“Conditions must be imposed that address the pre-merger retrenchments, the impact of the merger on workers' conditions in the retail sector and its supply chain”, added Saccawu while briefing its main goal.

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Fashion Retailing Sector Attracts More Investors in SA

Fashion Retailing

The fashion retailing sectors in South Africa are attracting more and more investors these days and a number of new brands are entering into it.

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