J.C. Penney reported a smaller-than-expected quarterly loss on lower ad spending and higher margins, results Chief Executive Jill Soltau said showed efforts to revive sales and profits at the department store are taking hold.
British business suffered its deepest downturn since mid-2016 this month as the approach of a national election exacerbated uncertainty about Brexit, according to a survey, which augured badly for the economy.
US retail sales increased less than expected in November as Americans cut back on discretionary spending despite a strong labour market, raising fears the economy was slowing a bit faster than anticipated in the fourth quarter.
Chinese e-commerce firm Alibaba said on Wednesday it will stop selling e-cigarette components in the United States, amid growing regulatory scrutiny and reports of lung disease and some deaths linked to vaping.
Auto sales in China fell for a 15th consecutive month in September, data from its biggest auto industry association showed, dampening hopes for a second-half turnaround in the world’s largest auto market.
H&M, the world’s second-biggest fashion retailer, swung into a steep loss in its March-May quarter and said its recovery outlook was uncertain, although trade had resumed faster than feared as pandemic lockdowns ease and stores reopen.
After the success of its first showroom in Al Ain, 2XL Furniture & Home Décor has announced the opening of a second showroom in the city at Al Ain Mall. It also marks 2XL’s 10th store opening in the UAE, a major milestone for the luxe brand.
British shoppers, home-buyers and employers grew more upbeat last month, as reports of the biggest rise in high-street sales since 2014 and the largest increase in house prices in nearly two years added to signs of a post-election bounce.
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.