By Dhanya Skariachan (Reuters) – Best Buy Co Inc reported lackluster sales in the first quarter and warned that efforts to entice shoppers could squeeze profits in the near term. The news overshadowed its better-than-expected, first-quarter profit and sent shares of the world’s largest consumer electronics chain down 4 percent on Tuesday. Under Chief Executive [...]
By Serajul Quadir and Rafiqur Rahman GAZIPUR, Bangladesh (Reuters) – A Bangladesh factory where Wal-Mart Stores Inc and Inditex SA inspectors spotted cracks in the wall this month is still making Wrangler shirts for the world’s largest apparel maker, U.S.-based VF Corp. VF confirmed on Saturday it was still using Liz Apparels to make its [...]
By Phil Wahba (Reuters) – J.C. Penney Co Inc Chief Executive Myron Ullman told Wall Street on Thursday that the department store chain is emerging from what he called an abyss but warned he needs time to fix the issues of the retailer. Penney reported another steep quarterly loss on weak sales and heavy clearance [...]
By Tom Bergin LONDON (Reuters) – Google Inc faced angry questions on Thursday from British lawmakers investigating its tax affairs and whether it had misled Parliament in testimony last year, adding fuel to a debate on taxation that has risen to the top of the UK political agenda. Google’s Northern Europe boss, Matt Brittin, was [...]
By Alistair Barr SAN FRANCISCO (Reuters) – As Amazon.com Inc seeks to transform itself into a leading provider of technology to the world’s largest corporations, it’s discovering that it needs help. The online retailer, which since 2006 has moved aggressively into the business of renting remote computing, storage and other IT services, is roping in [...]
By Lucia Mutikani WASHINGTON (Reuters) – Retail sales unexpectedly rose in April, pointing to underlying strength in the economy and leading forecasters to bump up second-quarter growth estimates. The surprise gain in retail sales, which account for about 30 percent of consumer spending, was the latest sign of resilience in an economy that has been [...]
By Jessica Wohl (Reuters) – Wal-Mart Stores Inc stepped up Bangladesh factory inspections while U.S. and European retailers pursued separate accords to try to prevent another disaster in a garment industry where more than 1,200 workers have died in the past six months. Wal-Mart, the world’s biggest retailer, said it does not plan to sign [...]
By Alexei Oreskovic SAN FRANCISCO (Reuters) – To mark the Cinco de Mayo holiday this year, Domino’s Pizza festooned its Facebook page with a string of posts, including an image of a Mexican-themed guacamole pizza that garnered over 2,000 "likes". But visitors to Domino’s companion Google+ page on that day found less festive fare: The [...]
By Serajul Quadir and Matthew Green DHAKA (Reuters) – As hope faded of finding any more survivors of Bangladesh’s factory collapse, Reshma Begum’s family cherished one modest prayer: that hers would be the next body to be excavated from the rubble so they could at least give her a decent burial. Instead, Begum, 19, was [...]
By Rafiqur Rahman SAVAR, Bangladesh (Reuters) – A young Bangladeshi woman who spent 17 days buried alive under a collapsed garments factory was rescued on Friday when astonished workmen heard a voice calling "save me, save me" from the rubble. Pale, drawn but seemingly unhurt, Reshma Begum was cut from the ruins and hoisted onto [...]
