Fines issued for failing worker safety on standing
The first fines have been issued to businesses who have not ensured health and safety for workers whose jobs require standing for long periods, it emerged on Friday.
The law ...
Puma shares sink as consumer struggles weigh on outlook
German sportswear company Puma (PUMG.DE), this week forecast sales and profits this year below analyst expectations, sending its shares down over 8 per cent to their lowest since 2018, blaming a ...
How Shein outgrew Zara and H&M and pioneered fast-fashion 2.0
With Zara-owner Inditex (ITX.MC) and H&M (HMb.ST) set to disclose their most recent sales results, investors will be focused on one major question: how are the ...
Deal-hunters on track to spend record $12 bln in US Cyber Monday shopping spree
Spending online on Cyber Monday is set to exceed $12 billion, a record, as bargain hunters snap up deals on items including Barbie dolls, Lego sets, headphones and smart watches, according ...
H&M shares jump 10 per cent as summer collection boosts profit
H&M (HMb.ST) shares hit a 16-month high on Thursday after its second-quarter profit beat estimates with its summer collection doing well as warmer weather arrives in Europe.
...
Once-high-flying retailer ASOS falls after FTSE 250 relegation
ASOS (ASOS.L), the British online fashion pioneer valued at more than 7 billion pounds ($8.8 billion) just over two years ago, has been relegated from the FTSE 250 index of mid-sized companies, ...
US retail sales miss expectations, but core sales strong
US retail sales increased less than expected in April, but the underlying trend was solid, suggesting that consumer spending likely remained strong early in the second quarter, despite growing risks ...
Richemont sales boosted by consumer bounceback, shares hit record
Luxury goods group Richemont (CFR.S) beat expectations on Friday after high demand from Chinese consumers for jewellery and watches boosted sales over the three months to March 31, sending shares ...
Valentino sales up 10 per cent in 2022 boosted by directly-owned shops
Italian fashion house Valentino reported on Monday an 18% rise in core profit for 2022 as sales rose 10% at constant currencies, boosted by its directly operated shops and defying a weak Chinese ...
Walmart aims for 65 per cent of stores to be automation serviced by 2026
Walmart Inc (WMT.N) on Tuesday said it expects about 65 per cent of its stores to be serviced by automation by the end of its fiscal year 2026, just days after ...
Shoppers to face fresh price hikes as stores, suppliers pass on costs
Grocery costs seen rising further in 2023 -executives, analysts
Input costs exacerbated by Ukraine war
Retailers seeking to pass on high raw material costs
Unilever, Nestle, Danone to report results this ...
Britain’s Sainsbury’s partners with Just Eat for home delivery
Sainsbury’s (SBRY.L), Britain’s second biggest supermarket group, has linked up with online meal ordering and delivery firm Just Eat Takeaway (TKWY.AS), to add faster home delivery ...
Evel president: ‘new mall a catalyst for business modernisation in Larnaca’
President of the Larnaca Chamber of Commerce (Evel) Stavros Stavrou on Friday attended the opening of the Metropolis Mall in Larnaca, where he delivered an address during the opening ceremony.
“...
Abercrombie cuts sales forecast as Hollister falls out of fashion
Abercrombie & Fitch Co on Thursday cut its full-year sales and margin forecasts after reporting a surprise quarterly loss, underscoring increasing competition for consumer dollars amid surging inflation.
Shares of ...
Consumers adjust to new market conditions
Consumers continue to adjust their purchasing habits in order to better deal with supply chain disruptions and soaring inflation, according to the latest edition of the PwC Global Consumer Insights ...
Retail sector must adjust to help consumers
Alphamega Hypermarkets CEO George Theodotou earlier this week told attendees at the Cyprus Grocery Retail conference that the sector is currently facing unprecedented challenges.
The executive explained that soaring inflation, ...
Britain’s Sainsbury’s warns of lower profit as inflation hits
British supermarket group Sainsbury’s (SBRY.L) followed market leader Tesco (TSCO.L) in warning that soaring inflation would lower profit in the current financial year, taking the shine off ...
Online shopping in Cyprus increases significantly in the first quarter of 2021
The percentage of people who made online purchases showed a significant increase, which reached 48 per cent in the first quarter of 2021 compared to 34.1 per cent in the corresponding period last ...
Black Friday sales hit by supply issues and Covid measures (Updated)
Small shopkeepers’ union Povek said that discounts on offer for Black Friday in Cyprus are much lower than other countries, as reduced traffic was recorded at shops in the morning ...
ASOS chief exec steps down as fast fashion retailer warns on profit
ASOS (ASOS.L), the British online fashion retailer, warned on Monday that logistics costs and supply chain disruptions could reduce 2022 profit by more than 40 per cent and said CEO Nick ...
Britain calls on ex-Tesco boss ‘Drastic Dave’ to fix supply chain
Boris Johnson has turned to former Tesco (TSCO.L) boss Dave Lewis to fix supply chain problems that have hit the British economy and sparked criticism of the Prime Minister’...
Metropolis Mall one of many projects to elevate Larnaca
The new Metropolis Mall in Larnaca helped the city during its construction phase by employing an estimated 1,000 people throughout the entire process. Having recently opened its doors to the public, ...
Morrisons’ fate to be decided in $10 billion Saturday shootout
The outcome of a $10 billion six-month battle to buy British supermarket chain Morrisons (MRW.L) will be decided in a one-day auction on Saturday overseen by the Takeover Panel.
The ...
Pub group Wetherspoon’s losses widen, staff hard to find
J D Wetherspoon (JDW.L) fell deeper into the red for its fiscal 2021 and said it had like many other businesses found it hard to attract workers in some areas ...