China’s economic data plunged in April, worse than what analysts expected, after harsh measures to curb COVID-19 in its commercial hub Shanghai battered businesses. Retail sales fell down 11.1% year-on-year in April, more than a 6% decline that economists forecasted, …
Furniture company Ikea has continued to source Russian lumber despite its pledge to pause all imports from and exports to the country. Development Manager Purchasing at Ikea Robert Olsson confirmed to Swedish newspaper Aftonbladet that the company had not stopped …
Workers at Apple’s flagship Grand Central Terminal retail store in New York City announced on April 18 that they plan to form a union. The organizers, who have dubbed themselves “Fruit Stand Workers United” (FSWU), said on their newly launched …
Etsy sellers have closed shops for the week and went on strike. after the marketplace announced it would increase the 5% transaction fee for sellers to 6.5%. “Etsy’s last fee increase was in July 2018. If this new one goes …
UK retail chain The Works has been forced to close down its stores after being hit by a cyberattack. The undetermined cyberattack reportedly disrupted supply chains, logistics, and payment systems. “Replenishment deliveries to the Group’s stores were suspended temporarily and …
Hong Kong’s retail sales fell in February after 12 straight months of growth as a resurgence of COVID-19 infections forced the city into another slew of lockdowns. Retail sales in February dropped by 14.6 percent from a year earlier to …
Furniture retailer IKEA said on Wednesday that it plans to close its store in Tottenham, London later this year, a move that would impact 450 jobs at risk. “The proposal to close the Tottenham store follows an extensive assessment of …
German wholesaler Metro and a Dutch food retailer Spar International BV announced on Wednesday that they are still operating in Ukraine and Russia. SPAR is keeping stores running either by reducing opening hours or paying salaries through international banks. SPAR …
Sri Lankan police said on Sunday two men collapsed and died while waiting in separate queues to buy fuel, as gas stations in the country face long lines amid a severe fuel shortage. “One was a 70-year-old three-wheeler driver who …
Swedish clothing giant H&M has temporarily suspended all sales in Russia due to the country’s invasion of Ukraine. “H&M Group is deeply concerned about the tragic developments in Ukraine and stand with all the people who are suffering. H&M Group …
