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HSBC has agreed to sell its French retail bank to Cerberus-backed My Money Group, furthering the British lender’s non-Asia retreat. HSBC has agreed to sell its French retail bank to the Paris-based banking group in a deal that includes 244 branches, 3,900…
A growing cluster of infections threatens to derail Singapore’s economic reopening, while expats in the country are growing restless from being cooped up on the island with no end in sight. Singapore’s Multi-Ministry Task Force is closely monitoring the…
Uniqlo opened the doors of its newest large-format store on Friday, in the historic and culturally significant neighborhood of Asakusa. The store follows the concept of “our neighborhood” and aims to support the area’s local businesses, residents, and…
South Korean retailers Lotte Shopping and Shinsegae Group entered separate binding bids for eBay’s South Korean business, the retailers’ spokesmen said on Monday. eBay Korea – South Korea’s third-largest e-commerce firm with a 12.8% market share in 2020,…
The Ministry of Industry and Trade wants employees at retailers selling essential goods to be prioritized for Covid-19 vaccination, saying they face a high risk of infection. It has made the proposal to the Government following demands from large retail…
Hong Kong-headquartered shoe retailer Le Saunda shut down 52 stores during the year to February as it worked to mitigate falling sales in the wake of the Covid-19 pandemic. The embattled shoe retailer recorded a profit for the full year of US$16.6 million,…
Vincom Retail targets a post-tax profit of VND2.5 trillion this year, up 5 percent from 2020 but lower than in 2019. The mall developer and subsidiary of conglomerate Vingroup eyes revenues of VND9 trillion, up 8 percent from last year but marginally below…
Thai group Central Retail says it achieved 90 percent of its pre-Covid sales performance in the March quarter, the result of what CEO Yol Phokasub described as “thriving on steadily regaining balance” during a time of challenges and uncertainties”.…
Retail sales continued to recover in March as the Singapore economy rebounded, though the figures were boosted by the comparison with the situation a year ago when Covid-19 safe distancing measures began and border restrictions were in place. Takings at the…
As Vietnam’s digital economy grows, so does the incidence of disputes between online sellers and buyers. The e-commerce market grew by 16 percent to $14 billion in 2020 and is expected to be worth $52 billion by 2025, according to a report by Google. The…
The local consumer retail demand is projected to get worse in the new year, most especially those that are riding on the tourism sector, which is also expected to be sourer at the same time. In a survey by the Hong Kong Retail Management Association (HKRMA),…
Japanese retail sales rose 5.2 percent year-on-year in March, representing the fastest pace of growth in five months as consumer demand returned after suffering a huge hit due to the coronavirus pandemic last year, according to a report. The world’s…
US pizza chain Papa John’s is launching in Cambodia with 15 restaurants scheduled to open during the next three years. The company opened its flagship store in Phnom Penh last month. “Papa John’s Cambodia team is truly passionate about pizza,” said Peter Xu,…
Department store sales jumped 40 percent in February against a year-ago period in the biggest year-on-year gain since the data became available from 2005 to suggest a rebound in private consumption in South Korea. According to the Ministry of Strategy and…
E-commerce businesses in Hong Kong are set to recapture their growth hit by the COVID-19 pandemic, with supply chain and logistics issues and a decline in sales, Paypal’s new study showed. Despite the obstacles brought by COVID-19, two-thirds (61%) of…
China’s industrial output and retail sales surged in the first two months of the year, official data showed yesterday, underscoring the country’s recovery from the COVID-19 pandemic. Industrial production spiked a forecast-busting 35.1 percent on-year, the…
