WASHINGTON—U.S. retail sales unexpectedly increased in June as demand for goods remained strong even as spending is shifting back to services. The rebound in sales reported by the Commerce Department on Friday was despite purchases of motor vehicles declining again because of a lack of supply caused by a global semiconductor shortage. The scarcity of…
High Street Retail Giant Gap to Close All UK and Ireland Stores
High street retail giant Gap has announced it will be closing all stores in the UK and Ireland by the end of 2021. The company said it intends to take its business online “in a phased manner” from the end of August through to the end of September this year. It added it would provide…
May Retail Sales Fell 1.3 Percent as Americans Spend Less on Goods
NEW YORK—Retail sales fell in May, dragged down by a decline in auto sales and a shift by Americans to spend more on vacations and other services instead of goods. Total sales dropped a seasonally adjusted 1.3 percent in May from the month before, the U.S. Commerce Department said Tuesday. Wall Street analysts expected a…
NTD Business Full Broadcast (April 15)
Trucking companies rush to hire more drivers to meet demand, some are raising drivers wages — as much as 40%. Forget about flights and hotels, how about a trip to outer space? Credit cards are considering new rewards to attract customers. Entrepreneurs in New York City defeat the odds with new business models. They see…
‘Cocooning’ Australians Boost Retailers During Pandemic
Australians spent much of 2020 “cocooning” and it has driven remarkable sales results for major home-related retailers, according to an expert. Prof. Gary Mortimer, an expert in marketing and consumer behaviour at QUT Business School, explained that “cocooning” is a term used to describe individuals who prefer to stay home and insulate themselves from perceived…
Pandemic’s Effects on Retail Weigh on Commercial Real Estate
As lockdowns and curfews ramp up across Canada, the retail sector’s struggles to adapt to the pandemic are playing a large role in determining what works and what doesn’t in commercial real estate.
Australians Set for a Record Boxing Day Shopping Splurge
Australians are set for a record Boxing Day shopping splurge but more people than usual will be hunting a bargain online. The National Retail Association has forecast a $2.75 billion spend in stores, up five percent on last year, with $930 million in digital sales estimated. NRA chief executive Dominique Lamb said Australians unable to…
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