For its first quarter, J. C. Penney Company, Inc. reported net loss of 154 million dollars or 48 cents per share compared to a net loss of 78 million dollars or 25 cents per share in the same period last year. Adjusted net loss was 147 million dollars or 46 cents per share compared to 69 million dollars […]

Nepal's central bank has banned popular Chinese digital wallets Alipay and WeChat, an official said Tuesday, fearing loss of foreign currency earnings from thousands of Chinese tourists that visit the country. Nepal Rastra Bank issued a notice on Monday, banning the use of the Chinese digital payment […]

Total sales at John Lewis for the week to May 18, 2019, the company said in a statement, were up 1.7 percent with strong performance in shops over the weekend as it annualised the impact of the Royal Wedding weekend last year. Fashion sales were up 5.8 percent with beauty sales up 9.5 percent due to […]

Value footwear retailer Shoe Zone Plc, in the six months to March 30, 2019, generated revenues of 73 million pounds (92.8 million dollars) compared to 73.7 million pounds in the first half of 2018 and profit before tax of 1 million pounds (1.2 million dollars). Shoe Zone said, statutory earnings per […]

Swiss group Maus Frères, which owns brands including Lacoste, Aigle and Gant, has been approved by the Autorité de la concurrence, to buyout French ready-to-wear label The Kooples, which is currently owned by its founding owners. According to a press release from the Autorité de la concurrence, the […]

The 14,000 people working at Walmart’s headquarters in Bentonville, Arkansas, are soon to get a new home office. The American retailer has unveiled plans for a new campus, to be opened in phases between 2020 and 2024. Walmart said in a statement that the new space was designed with the needs of the […]

After months of delays and uncertainty, the Bangladesh Accord on Fire and Building Safety has finally struck a deal with the Bangladesh Garment Employers Association (BGMEA), closing what seemed to be a never-ending battle concerning the future of its operations in the country. A memorandum of understanding […]

The continued growth of online shopping with British consumers has seen the courier and express delivery market record double-digit growth, according to the latest research from Mintel. Last year, courier and express delivery sales increased by 12 percent to 12.6 billion pounds, marking growth of 62 […]

Through a partnership with Hong Kong-based technology firm TextileGenesis, Austrian fiber producer Lenzing enters the age of digital traceability: Using blockchain technology to support its Tencel-branded fiber business, Lenzing wants to ensure transparency from wood to the finished garment. “With Lenzing […]

The board of directors of Macy's, Inc. has announced a regular quarterly dividend of 37.75 cents per share on Macy's, Inc.’s common stock, payable July 1, 2019, to shareholders of record at the close of business on June 14, 2019. With fiscal 2018 sales of 24.971 billion dollars, Macy’s operates around […]

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