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News
JD.com's Ceconomy concessions face criticism from rivals, sources say
3+ day, 1+ hour ago (228+ words) They said the European Commission, which acts as the European Union’s competition enforcer, informed JD.com earlier this week of the responses to concessions it offered last month. The Commission, which will decide on the deal by October 23, and JD....
France targets Shein and Temu with fast fashion fines
1+ week, 5+ day ago (373+ words) The penalties – part of a fast-fashion law passed in June that aims to address environmental concerns from overproduction – range from €0.25 (30 U.S. cents) for a pair of boxer shorts or socks to €12 ($14) for a coat, with the amount capped at…...
Kohl's sales fall as retailer cites 'persistent financial pressures' on shoppers
2+ week, 4+ day ago (590+ words) By Anuja Bharat Mistry, Shania S Thomas and Danielle Kaye The company’s shares, which had already fallen about 13% so far this year, dipped in volatile morning trading before paring back losses. Despite growth in categories including home goods and youth…...
Abercrombie raises full-year forecasts on robust apparel demand, shares jump
2+ week, 4+ day ago (324+ words) By Angela Christy M The New Albany, Ohio-based company entered the crucial back-to-school shopping season with momentum at Hollister, its teen-focused brand, which has historically benefited from seasonal spending. That back-to-school momentum at Hollister continued to build as the company…...
Chinese e-commerce giant JD.com offers EU remedies in Ceconomy takeover probe
3+ week, 3+ day ago (148+ words) • The filing did not specify the remedies offered. • The European Commission opened a full-scale investigation into the deal in May under the Foreign Subsidies Regulation that targets unfair foreign state aid, citing concerns that JD.com might have received foreign…...
Amazon set to expand drone delivery of lightweight packages to 500 US cities
3+ week, 4+ day ago (554+ words) Customers could receive the drone deliveries in as fast as 30 minutes, Amazon said in a news release. The drones can carry packages up to 5 pounds. The plan will intensify the battle between Amazon and Walmart to provide consumers with the…...