International News

Sears is closing another 103 stores, on top of the 63 stores closing at the end of this month, the company said Thursday.That consists of 64 Kmart stores and 39 Sears stores, all of which are expected to shut...

Marks & Spencer (M&S) has confirmed the sale and franchise of its retail business in Hong Kong and Macau to its long-established franchise partner Al-Futtaim. The sale, which completed on 30 December, sees Al-Futtaim become the new sole franchisee...

The Shilla Duty Free, one of the world’s leading travel retail companies, has commenced operations at Hong Kong International Airport (HKIA), after its successful bid on the perfume and cosmetics, and fashion accessories concessions earlier this year. Six retail outlets...

On December 23, 257-year-old British toy retailer Hamleys, opened its largest store worldwide in Beijing, the third one so far in China. An exclusive Hamleys Toy Parade was also held to celebrate the opening, timed to coincide with the...

Michael Kors, a global fashion luxury group, has announced that it will no longer use animal fur in its products, with production being phased out by the end of December 2018. “I am pleased to announce our company’s commitment to...

ASICS America Corporation, the true sport performance brand, has opend the doors to its first U.S. flagship store featuring two brands in the ASICS family – ASICS and ASICSTIGERTM. The new store on the famed Fifth Avenue in New York...

L Catterton, the largest and most global consumer-focused private equity firm in the world, has announced a definitive agreement to make a strategic investment in Ganni, one of Scandinavia's most successful advanced contemporary fashion brands. Founded in Copenhagen, Denmark in...

America's largest grocery chain, Kroger, has opened its first stand-alone restaurant as part of its new hospitality division. The restaurant, christened Kitchen 1883 - a reference to the year Barney Kroger founded the grocery chain - is located adjacent to...

Tencent Holdings has agreed to purchase a stake in one of China’s largest supermarket chains, Yonghui Superstores. Shanghai-listed Yonghui announced on Monday evening that Tencent would buy a 5 per cent stake at an unspecified price. encent will also take...

Target Corp has announced that it has agreed to acquire Shipt, Inc., a leading online same-day delivery platform, for US $550 million in cash. Target will leverage its network of stores and Shipt's proprietary technology platform and community of...

Australian company Westfield, which runs two of UK’s highest-earning shopping centres is being bought by French property giant Unibail-Rodamco for $24.7 billion in what is being termed as a mega deal, the largest acquisition of an Australian company in history. With the closing of...

British shopping centers owner Hammerson has agreed to buy smaller rival Intu Properties for about £3.4 billion ($4.56 billion) to create a pan-European real estate giant controlling assets worth £21 billion. Hammerson owns the Brent Cross shopping centre in London, as...

Department store operator Macy’s on Friday announced that Executive Chairman Terry Lundgren will retire on January 31. The retailer named CEO Jeff Gennette as Lundgren’s replacement. Gennette will serve as both chairman and CEO after Lundgren retires. Macy’s said its board...

Walmart on Wednesday announced it will change the company's legal name from Wal-Mart Stores, Inc. to Walmart Inc effective February 1, 2018. Walmart said it is changing its legal name as the company looks to emphasize its shift from a...