International News

The Bon-Ton Stores has announced that the company and its subsidiaries have filed voluntary petitions for a court-supervised financial restructuring under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.The...

Fung Retailing Limited, with a network of over 3,000 stores, and JD.com, China's largest retailer, has announced a partnership to develop AI-driven retail solutions.According to the agreement signed, the two companies will cooperate in using AI to transform the...

Buoyed by iPhone sales in the holiday season, Apple posted a record revenue of US $88.3 billion -- a 13 per cent increase from a year-ago -- for the first quarter of fiscal 2018 that ended on December 30.According...

Sears Holdings on Wednesday laid off 220 employees primarily at the company's corporate headquarters in Hoffman Estates, Illinois, effective immediately.The layoffs are part of an ongoing restructuring effort at Sears, and they follow rounds of cuts in March and...

Online grocery leader Shipt has announced a partnership with Target to begin same-day delivery of in-store groceries, essentials, home, electronics and other products across Florida and Albama. However, the company will expand it to all major products by the...

Revlon, Inc announced that Fabian Garcia, President and Chief Executive Officer of Revlon, has stepped down from his position to pursue other opportunities.Paul Meister, currently a member of Revlon’s Board of Directors, will become Executive Vice Chairman of the...

Walmart President and CEO Doug McMillon and Rakuten Chairman, President and CEO Hiroshi 'Mickey' Mikitani met in Tokyo to announce a new strategic alliance that leverages each company’s unique strengths and assets to expand consumer reach and enhance how...

Chinese Internet giant Tencent has opened its first cashier-less pop-up store in Shanghai in a move to tap into the country's promising unmanned retail industry.According to a PTI report: At the 300-square meter shop named We Life, shoppers can...

Hundreds of South Koreans on Saturday waited hours for the opening of Apple's first store in southern Seoul.About 300 people lined up to be among the first in the country to get inside Apple Garosugil in the affluent southern...

Nestle said Friday that it plans to further reduce its workforce in France as it looks to cut costs and centralize operations.The group, which employs 13,000 people in France, wanted to avoid layoffs and attrition may account for some...

Toys “R” Us is planning to close as many as 180 of its stores as it struggles to reorganize in bankruptcy. The planned closings represent about 20 percent of Toys “R” Us storesThe retail chain, which filed for bankruptcy...

Carrefour has announced a potential investment by Tencent and Yonghui in Carrefour China as well as a strategic cooperation agreement with Tencent in China.Potential Investment by Tencent and Yonghui in Carrefour ChinaCarrefour has signed a term sheet with Tencent...

Walmart Stores Inc. has announced that Judith McKenna will be promoted to President and Chief Executive Officer (CEO) of Walmart International, the company’s second-largest operating segment. She will be succeeding David Cheesewright, who has been in role since 2014...

Swiss Compagnie Financiere Richemont SA is planning to acquire all of the Yoox Net-A-Porter Group SpA shares it doesn't already own for a maximum price of 2.69 billion euros.Commenting on the offer, Johann Rupert, Chairman of Richemont, said in...