Sears shares jumped 16 percent on Wednesday after the company announced a tyre service partnership with Amazon, part of Chief Executive Officer Edward Lampert’s strategy to make the troubled retailer profitable again.
It looks like times were tough for Japanese sports giant Asics during Q1 as the company’s consolidated net sales and profits were down. But at least the percentage profits fall was less than the sales drop.
The revenue of Lenzing Group in the first quarter of fiscal 2018 decreased 6.1 per cent, from the prior-year quarter to €550.3 million. This drop is mainly attributable to less favourable currency exchange rates.
The Adidas CEO expects a shift in its sourcing of footwear from China to Vietnam to continue although he shrugged off concerns on Wednesday about the possible imposition of U.S. tariffs on Chinese-made shoes.
Walmart Inc has agreed to pay $16 billion for a roughly 77 percent stake in Indian online shopping site Flipkart, the U.S. retailer’s biggest foreign investment ever as it battles rival Amazon.com Inc.