Archive for the ‘RETAIL’ Category

Online Stores Grab No. 2 Spot in $520 Billion US Retail Market

Online shopping has become the second-biggest chunk of the $520 billion U.S. retail market, after overtaking grocery stores and restaurants in June. Spending at nonstore retailers, which includes online vendors such as Amazon.com, rose 1.7% last month and drove the overall increase in sales, according to the Commerce Department.

Walmart to invest 1.2 billion in China to upgrade logistics

Walmart Inc plans to invest 8 billion yuan ($1.2 billion) in China over the next 10 years to upgrade logistics, the U.S. retail giant said on its social media account on Monday. The company will also set up or renovate more than 10 logistics centres in the country.

Arcadia Group Will Close 11 U.S. Topshop Stores Amid Bankruptcy Filing

Arcadia Group, a UK-based fast-fashion retailer, will close all 11 U.S. Topshop and Topman stores and will consider closing 23 locations in the UK, according to The Wall Street Journal. Additionally, the company filed for Chapter 15 bankruptcy in the U.S. and started undergoing a separate insolvency process overseas.