JC. Penney Co., the third largest U.S. department store chain, said it will open fewer new stores this year than originally planned and it will increase its efforts to attract frugal shoppers away from rivals by revising its marketing pitch and adding new brands.
Fashion company Burberry Group has reported a rise in total revenue of 19 per cent for the half year to 31 March 2008.
Leading U.S. retailers had a mixed March, with discount and wholesale retailers reporting better sales in March than higher priced department stores and specialty retailers as shoppers face a slowing U.S. economy which may already be in a mild recession.
Retailer Lowe's Cos reported lower quarterly profit on Monday and forecast full-year earnings below Wall Street estimates, citing challenging days to come as the slumping housing market hurts sales.
India's largest IT services, business solutions and outsourcing company, Tata Consultancy Services (TCS) has launched its second Global Delivery Center (GDC) near Hyderabad even as it announced reorganization of its global operations for better efficiency.
January retail sales were the worst in nearly four decades, adding further tension to a stumbling economy, according to Nordstrom Inc.
The outlook for the economy dipped on Friday as employers cut 17,000 jobs non-farm jobs in January, the first drop in 4 and a half years, which overturned analyst estimates that 69,000 new jobs would be added to the economy.
Dell will close about 140 retail kiosks in the U.S., in an effort to adjust its evolving product distribution strategy.
Guitar Hero video game hit a industry record on Monday, generating $1 billion in sales in North American retail within 26 months, a market research reported.
Virtual worlds, mobile coupons and bar-code readers on cell phones are the next technology wave that U.S. chain stores must ride if they hope to stay competitive in the fast-changing world of global retail.
Dell Inc returned to double-digit percentage growth in global PC shipments in the fourth quarter as its new retail sales strategy began to pay off, while rival Hewlett-Packard Co's growth slowed, technology researcher IDC said on Wednesday. Overall, global personal computer sales rose a healthy but less-than-expected 15.5 percent in the fourth quarter, and economic concerns were likely to cut into future demand, IDC said.
The dollar extended its declines against the euro and yen on Tuesday after data showed U.S. retail sales for December were below market expectations.
Dream Big is the theme of the National Retail Federation's annual conference taking place this week and that is likely to be what many U.S. retailers will do to survive 2008 -- dream big of greener pastures.
Retailers reported weaker than expected December sales results on Thursday, reflecting a 2007 holiday shopping season that is turning out to be one of the weakest in years due to a weakening job market and the ongoing housing slump.
The toll that economic uncertainty has taken on U.S. consumer electronics retailers was made very clear on Tuesday by Circuit City CEO Phil Schoonover. I am not smiling, Schoonover said, when asked to reflect on his 2007 sales.
Economic pressures and online deals might have led consumers to sharply limit their trips to retailers in the week leading up to Christmas, data tracker ShopperTrak RCT said on Thursday.
U.S. consumers, who flocked to malls at the start of the holiday shopping season, have since backed off, kept out of stores by a Midwest ice storm and the ease of shopping online, data released on Sunday by SpendingPulse showed.
Nintendo Co Ltd's Wii held on to its spot as the No. 1 video game console in the United States in November, selling 981,000 units, industry data showed on Thursday.
Retail shares on Wednesday rose after the Federal Reserve revealed new plans to inject cash into money markets as a way to reduce stress in financial markets.
Dell Inc. announced on Thursday it will begin selling PCs at more than 900 Best Buy Co. Inc. stores in an attempt to gain more of the U.S. consumer market.
Some retailers reported stronger-than-expected November sales on Thursday, helped by a post-Thanksgiving rush and holiday discounts, but notable misses by others and a shift in the retail calendar left an unclear picture of the strength of the key holiday season.
Canadian Imperial Bank of Commerce posted an 8 percent increase in fourth-quarter earnings on Thursday as various one-time charges in its wholesale unit were largely offset by a gain in its retail business, and taxes were lower.
