British retail sales rebounded much more strongly than expected last month as the country gradually relaxed its coronavirus lockdown, but public borrowing hit a record high and debt passed 100% of economic output.
An unprecedented 70 per cent of retailers in the country anticipate that their business will recover in more than six months, while 20 per cent expect it to take more than a year, a survey conducted by industry body Retailers Association of India (RAI) stated.
New York was under a curfew that would last until early Tuesday morning, officials said, after looters raided stores in central Manhattan, targeting some of the city's top retailers.
Migration to the latest technology and digital transformation will play a crucial role in shaping the future of the $275.4 billion retail sector in the Gulf Cooperation Council (GCC) countries, retail sector
Britain’s high street faces more than 5,000 job cuts after two of its biggest names said that customers were unlikely to return to their old shopping habits after the coronavirus crisis, in the latest blow to the country’s ailing economy.
The various stimulus packages being administered by governments to stimulate consumer demand, need to be tailored to the needs of each country and the economic distress being faced by citizens (“UK retail to lose further 5,000 jobs in blow to economy,” July 9, Gulf Today).
US retail sales rose more than expected in June as consumers bought major items like motor vehicles and dined out, but a resurgence in new COVID-19 cases is chipping at the budding recovery, keeping 32 million Americans on unemployment benefits.
British retail sales jumped back almost to pre-coronavirus lockdown levels in June when non-essential stores in England reopened, giving a boost to beleaguered clothing stores.
British shoppers spent more than expected last month after being enticed by online shopping deals, official figures showed on Friday,
Britain’s luxury department store chain Selfridges, famed for its flagship store on London’s Oxford Street, was snapped up Friday by a Thai-Austrian alliance for £4.0 billion in a Christmas Eve deal that will create a global giant. Selfridges, whose stores