The weakness of the UK’s currency boosted retail sales to tourists in December as they spent £725m, a 22% increase, on a year ago. And a lot of that was spent on fashion and luxury goods, payments firm Worldpay said.
Amazon.com removed doormats resembling the Indian flag from its Canadian website on Wednesday, after an Indian government threat to rescind visas of the U.S.company's employees if they did not stop selling the product.
J.C. Penney Co Inc reported a decline in same-store sales for Nov. and Dec., the latest department store chain to reflect the malaise in the sector as shoppers increasingly eschew brick-and-mortar stores and shop online.
Disappointing holiday-season sales at Macy's Inc and Kohl's Corp underscored the uphill task facing department stores to win back shoppers, who are increasingly turning to online retailers and spending less on apparel.
Sears Holdings Corp said it would sell its Craftsman tools business to Stanley Black & Decker Inc for $900 million, sending its shares up and taking some focus away from the company's dismal holiday season performance.