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☆ North Korea Wants Dollars. It’s a Sign of Trouble.
▼ + stars: | 2022-12-09 | by ( Choe Sang-Hun | Pablo Robles | ) www.nytimes.com time to read: +18 min

Media Korean Studies 2016 2008 New Finished New buildings Repainted TAEDONG RIVER TAEDONG RIVER Pyongyang in 2008. Media Korean Studies 2008 2016 New Finished New buildings Repainted TAEDONG RIVER TAEDONG RIVER Pyongyang in 2008. Under Mr. Kim, North Korea has opened a new terminal at the city’s international airport, renovated subway stations and opened new amusement parks. Missile tests this year alone cost North Korea hundreds of millions of dollars, according to estimates by South Korean and American researchers. An array of cell phones, assembled in North Korea with components imported from China, is on sale and advertised on state TV.

☆ Measles outbreak in central Ohio grows to more than 50 children, driven by ‘lack of vaccination’
▼ + stars: | 2022-12-06 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +9 min

CNN —A measles outbreak in central Ohio is growing, sickening more than 50 children, with many of them needing hospitalization, according to data updated Tuesday by Columbus Public Health. “Measles can be very serious, especially for children under age 5,” Columbus Public Health spokesperson Kelli Newman wrote in an email Monday. In the Ohio outbreak, the hospitalized children have been seen at Nationwide Children’s Hospital. “For measles, it is the most infectious disease we have,” she said. Pediatric hospitals already strainedWhile the measles outbreak spreads across central Ohio, the United States has been battling a surge of respiratory illnesses, such as flu and RSV, or respiratory syncytial virus, and the ongoing Covid-19 pandemic.

☆ UK consumer spending fails to keep pace with inflation: surveys
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

LONDON, Dec 6 (Reuters) - British consumer spending ticked up last month at a rate that greatly lagged behind inflation, according to surveys on Tuesday that underscored the pressure on household budgets ahead of the Christmas holidays. Barclaycard said spending on its credit and debit cards rose 3.9% year-on-year in November, far behind the annual 11.1% increase in consumer prices in October that was the highest reading in 41 years. Some 94% of Britons surveyed by Barclaycard said they were concerned about the impact of soaring household energy bills on their personal finances. Many Brits intend to reduce festive spending on presents and parties in an effort to save money," said Esme Harwood, director at Barclaycard. However, sales growth remained far below current inflation, suggesting volumes continued to be down on last year," said BRC chief executive Helen Dickinson.

☆ Kohl’s, Bed Bath & Beyond and Uniqlo add self-checkout
▼ + stars: | 2022-12-05 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +4 min

Plus Uniqlo, Primark and other chains have started to roll out self-checkout machines at some of their stores. A Uniqlo self-checkout machine in Spain. This is a problem for self-checkout: customers aren’t used to removing security tags themselves, and most self-checkout machines aren’t equipped to do so. To get around this, some apparel stores are using wireless “radio frequency identification” security tags, known as RFID, on merchandise instead of hard tags. Stores such as Uniqlo have invested in new self-checkout machines that automatically recognize these tags, eliminating the need for customers to scan any products themselves or remove security tags.

☆ Who are the eager beaver holiday shoppers unhindered by inflation? Gen Z
▼ + stars: | 2022-12-04 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +4 min

They’re Gen Z. “One standout this Black Friday was the high turnout of Gen Z in stores,” said Kristen Classi-Zummo, apparel industry analyst with market research firm NPD. They came early, they came with friends, and they came to shop.”She said the prevalence of younger shoppers on Black Friday and over the Thanksgiving holiday shopping weekend surprised her. Mall operator PREIT, which owns 18 shopping centers primarily on the East Coast, confirmed that Gen Z consumers were out in force. “For Gen Z, it wasn’t just about shopping.

☆ Christmas vacations: 15 of the best places to go
▼ + stars: | 2022-12-03 | by ( Cnn Staff | ) edition.cnn.com time to read: +13 min

The Bath Christmas Market has a multitude of wooden chalets selling distinctively British handmade crafts in a quaint Georgian setting. Bogotá, ColombiaA woman dressed as Santa Claus sits next to a Christmas tree and a Christmas star at Bolivar Square in Bogota. Salzburg and Oberndorf, AustriaThe Christmas Market and associated festivities in Salzburg are really something to sing about. Dating back to 1570, Strasbourg claims to be the oldest Christmas market in France and one of the oldest in Europe. damianalmua/Adobe StockThe traditional Christmas colors of red, green and white take on an entirely new meaning in New Zealand.

Persons: CNN —, Santa Claus, Claus, ”, Allan Baxter, Jesus, Jane Austen, Jane Austen Centre –, Austen, Melchior, Gaspar, Balthazar, Roy Rochlin, Bergdorf Goodman, Wangari Maathai, Fernando Vergara, “ Ruta, John’s, Miguel de Allende, Mary, Joseph, “ posada ”, Mozart, White Organizations: CNN, Bath Abbey, Jane Austen Centre, The, Royal, Catholic, Rockefeller, Getty Images Rockefeller, New York, Radio City, Columbus Circle, Fashion’s, Saks Fifth, Macy’s Herald Square, Kenyan, Park, Nuremberg, Toy Museum, Bolivar, Downtown, Malta Toy Museum, Quebec City, Adobe, Nord Expe, Mexico Piñatas, UNESCO, ”, Santa Locations: England, Philippines, Rovaniemi, Lapland, Finland, Santa, Bethlehem , Pennsylvania, Philadelphia, New York City, Bethlehem, Moravian, Bath, “, Fernando , Philippines, Asia, San Fernando, Catholic Philippines, Manila, of Bethlehem, Barcelona, Spain, Santa Eulalia, New York City New York, Central Park, Macy’s, Nairobi, Kenya, Nuremberg, Germany, German, Bogotá, Colombia, Bogota, Christmastime, Malta, Downtown Valletta, Quebec City, Canada, Petit Champlain, Quebec, Old Quebec, Sentier, Nord, Miguel, Mexico, posadas, ponche, Piñatas, Salzburg, Oberndorf, Austria, ” Salzburg, Bavaria, Strasbourg, France, Europe, Queenstown , New Zealand, New Zealand, Queenstown, Wakatipu

☆ Black Friday was better than feared for retail stocks — Two potential big winners
▼ + stars: | 2022-11-28 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Black Friday was better than expected for retailers this year, with discount names Walmart and Costco poised to be among the season's winners, according to Bank of America. The big-box retailer made significant price investments to offer deeper discounts and traffic appeared very strong in stores, Ohmes noted. "Specialty retailers appeared to be relative winners while we observed decent trends across the discounters and department stores," said analyst Krisztina Katai. Morgan Stanley also called out strong traffic results for Lululemon and American Eagle, as well as Abercrombie & Fitch and Victoria's Secret. "These strong traffic results were achieved despite 1) similar or lower y/y discounting levels, & /or 2) discounting activity below total sector averages.

☆ European retailers downbeat despite Black Friday boost
▼ + stars: | 2022-11-28 | by ( ) www.cnbc.com time to read: +2 min

Europeans snapped up smartphones, Christmas decorations, sweaters and jewellery during a surge in shopping over the Black Friday weekend, though prospects for the festive season remained gloomy, retailers said. A survey of 400 businesses by Germany's HDE retailers' association showed just over half of merchants said they were still dissatisfied with sales last week, versus some 30% who were satisfied. Data from International Card Services showed transaction numbers in Holland up 12% and spending up 30% for the week. "Black Friday has lost some of its meaning for fashion retailers as it's no longer on a single day but spread out over a week or even a month. Retailers are feeling the uncertainty of consumers," Genth said, with inner-city retailers still feeling the impact of COVID-19.

☆ JCPenney was once a shopping giant. Can it make a comeback?
▼ + stars: | 2022-11-27 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +14 min

People walk past a JCPenney store at the Queens Center Mall in New York in 2016. The Denver Post/Getty Images Shoppers hurry across an intersection in front of a JCPenney store in Denver in 1964. Anne Cusack/The Los Angeles Times/Getty Images Customers shop at a new JCPenney store in New York in 2009. Mary Altaffer/AP A customer goes down an escalator at a JCPenney store in Westminster, Colorado, in 2009. Don Emmert/AFP/Getty Images JCPenney CEO Jill Soltau speaks during an interview in Fort Worth, Texas, in 2019.

☆ Retail expert Dana Telsey breaks down the holiday season's potential winners and losers
▼ + stars: | 2022-11-25 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

"I think this holiday season's gonna be about in-person shopping," Telsey said on "Squawk Box" Friday morning. The winners Bath & Body Works is one company that typically does well but surprised during its third quarter while other retailers struggled, she said. For the fourth quarter, Bath & Body Works expects per-share earnings between $1.45 and $1.65 compared with a StreetAccount forecast of $1.54. Bath & Body Works stock has shed 42.1% in 2022, more than the S & P 500's 14.3% drop. "When you walk the shopping center during Black Friday, that's where you're gonna see some of the longest lines," Telsey said, referring to Bath & Body Works.

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☆ Cost-of-living crisis casts shadow over Britain's Black Friday
▼ + stars: | 2022-11-25 | by ( James Davey | ) www.reuters.com time to read: +3 min

LONDON, Nov 25 (Reuters) - Britain's retailers are hoping Black Friday discount day will get shoppers spending, though it takes place against a backdrop of a worsening cost-of-living crisis and the distraction of the soccer World Cup. And they have begun their Christmas shopping early this year to help budget their finances. In France, 70% plan to shop on Black Friday and Cyber Monday, according to research by PwC France. More than a decade since being brought to the UK by Amazon, Black Friday's worth to retailers still divides opinion. Naysayers argue the discounts suck forward Christmas sales with reduced profits and undermine consumers' willingness to pay full price again before the festivities.

☆ Walmart, Best Buy, Trader Joe's and other retailers will be closed on Thanksgiving this year — see the list
▼ + stars: | 2022-11-23 | by ( Ann Matica | ) www.businessinsider.com time to read: +9 min

Stores like Walmart and Best Buy will be closing their doors on Thanksgiving again this year. Here's a list of retailers that have decided to stay closed on Thanksgiving Day. AppleREUTERS/Alyssa PointerApple stores located in the US will be closed this Thanksgiving, according to a company spokesperson. NordstromJeff Greenberg/Contributor/Universal Images Group Editorial via GettyNordstrom will not be opening its doors for business this Thanksgiving, according to Forbes. PetcoEducation Images/Contributor/Universal Images Group Editorial via GettyA company spokesperson confirmed to Insider that Petco will remain closed on Thanksgiving Day.

☆ Off-Price Is Thriving on Inventory Bonanza
▼ + stars: | 2022-11-18 | by ( Jinjoo Lee | ) www.wsj.com time to read: +1 min

Off-price retailers such as Ross Stores have managed to raise prices, in contrast with department stores and big-box retailers that are discounting heavily. Retailers’ inventory nightmare is turning out to be the stuff of off-price retailers’ dreams. Off-price retailers TJX Companies Inc., owner of T.J. Maxx, and Ross Stores Inc. are seeing much healthier demand than others selling clothes and home-related products. TJX said that U.S. comparable sales at Marmaxx, a unit that houses T.J. Maxx and Marshalls, rose 3% in its quarter ended Oct. 29 compared with a year earlier. Notably, TJX called out strong apparel sales, proving that consumers will still shell out for discretionary purchases for the right brand and price.

☆ Nightmare Before Christmas for Department Stores
▼ + stars: | 2022-11-17 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

Department stores cozied up to shoppers with early holiday deals, only to be met with cold shoulders. Will they have a late Christmas or none at all? Macy’s and Kohl’s both met tempered expectations in their respective quarterly reports ahead of the all-important holiday selling season. Macy’s, which also owns Bloomingdale’s, saw comparable-store sales at owned stores decline 3.1% in its quarter ended Oct. 29, which was better than the 4.3% decline Wall Street analysts polled by Visible Alpha were penciling in. Kohl’s saw comparable-store sales decline 6.9% over the same period, in line with its recent guidance.

☆ Fear is mounting that slumping retail earnings may fall lower still
▼ + stars: | 2022-11-17 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Another leg down for retail earnings? But it doesn't negate the main story for retailers this year: earnings estimates have been coming down hard since the summer. Beginning in June and July, analysts began aggressively cutting retail earnings estimates for the all-important holiday season. The assumption: the Fed's aggressive rate hikes would, by the end of the year, significantly slow consumer spending and likely start a recession. Indeed, yesterday's retail sales numbers were strong, and other recent reports by Mastercard also indicate the consumer is strong.

☆ Burberry looks to reignite spark under new leadership duo
▼ + stars: | 2022-11-16 | by ( Suban Abdulla | ) www.reuters.com time to read: +4 min

He has already made his key appointment in choosing Daniel Lee to replace Riccardo Tisci as chief designer at the 166-year-old label. Leather goods account for around 20% of Burberry's sales versus 70% at Bottega Veneta. Tisci, in turn, changed Burberry's design language by introducing a TB monogram, that increased the brand's appeal to younger luxury consumers. The final stages of Burberry's five-year plan were expected to see an acceleration in revenue growth and an increase in profits. Burberry's rivals - led by French luxury leaders LVMH (LVMH.PA) and Kering (PRTP.PA) - in contrast, have most recently reported double-digit sales growth in the quarter to the end of September.

☆ Japan's Seven & i to sell Sogo & Seibu unit to U.S. fund Fortress
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 11 (Reuters) - Japan's Seven & i Holdings Co Ltd (3382.T) said on Friday it will sell its Sogo & Seibu department store unit to U.S. fund Fortress Investment Group. The transfer price will be based on 250 billion yen ($1.77 billion) in enterprise value for Sogo & Seibu, adjusted by net debt and working capital, Seven & i said in a release. Electronics retailer Yodobashi Holdings will be a partner in the deal with Fortress, which is controlled by Japan's SoftBank Group Corp (9984.T). Yodobashi is expected to set up outlets within Sogo & Seibu locations, the Nikkei newspaper reported earlier this week. Seven & i shares rose 0.3% in Tokyo trading compared with a 3% jump in the benchmark Nikkei (.N225) index.

☆ Energy crisis dims festive sparkle in Europe's shops
▼ + stars: | 2022-11-11 | by ( Mimosa Spencer | ) www.reuters.com time to read: +4 min

PARIS, Nov 11 (Reuters) - Retailers in Europe are having to strike a delicate balancing act with this year's Christmas displays: how to create enough festive sparkle to loosen cash-strapped customers' purse-strings, while acknowledging the impact of the energy crisis. However, the energy crisis has accelerated plans to "reduce consumption to be a good citizen both socially and environmentally", he added. He said the store was moving faster to reach its goal of shifting entirely to LED lighting and began turning lights off at night in September. "It makes a big difference," said Eleanore de Boysson, region president of Europe and the Middle East for LVMH's travel retail division DFS. Other "small" gestures include only partially lighting the store and its offices during early morning cleaning hours, she added.

☆ Profits of Chile's Cencosud fall by half, hit by inflation
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

SANTIAGO, Nov 10 (Reuters) - Chilean retailer Cencosud (CENCOSUD.SN) on Thursday posted a 48% drop in its third-quarter profit, the company said in a statement, as it faces rising consumer prices across the region. Cencosud's net profit in the July to September period totaled 72.97 billion pesos ($81 million), down by nearly half from its 141.3 billion peso profit during the same period last year. The company's third-quarter profit takes into account its operations in Argentina, where annual inflation is seen ending this year at around 100%. Cencosud reported overall revenue growth of nearly 28% year-on-year to reach 3.88 trillion pesos ($4.3 billion). Excluding Argentina's effects, the company said net revenue hit $4.082 billion, up about a third compared to the same quarter last year.

☆ Kohl’s CEO leaves for Levi’s
▼ + stars: | 2022-11-08 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

Activist groups have pushed Kohl’s (KSS) to spin-off its online business, sell its real estate or take the company private. Michelle Gass is leaving Kohl's for Levi's. “It is fair to say that Gass has saved Kohl’s from more serious decline.”Meanwhile, Levi (LEVI) has grown since it went public again in 2019. Gass will join the company in January as president and take over as CEO within 18 months, succeeding current CEO Chip Bergh, Levi’s said in statement. Gass leaving Kohl’s for Levi’s is symbolic of a larger shift in retail’s power balance.

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☆ Ocado enters South Korea with Lotte Shopping deal
▼ + stars: | 2022-11-01 | by ( James Davey | ) www.reuters.com time to read: +3 min

REUTERS/Paul ChildsSummarySummary Companies Lotte Shopping becomes Ocado's 12th partnerOcado to build six robotic warehouses by 2028Ocado shares soar 34%LONDON, Nov 1 (Reuters) - Ocado (OCDO.L), the British online supermarket and technology group, has entered South Korea, one of the most mature e-commerce markets in the world, through a partnership deal with Lotte Shopping (023530.KS), the companies said on Tuesday. Lotte, South Korea's second largest grocer, becomes Ocado's 12th partner across 10 countries. Ocado's in-store fulfilment technology will also be rolled out across Lotte stores from 2024. Lotte Shopping, part of South Korea's Lotte Group conglomerate, operates department stores, hypermarkets, supermarkets and e-commerce, with more than 1,000 stores nationwide and an annual revenue of 9.5 billion pounds ($10.9 billion). Ocado Group's shares have been hurt this year by the performance of Ocado Retail, its retail joint venture with Marks & Spencer (MKS.L).

☆ 10 best credit cards for bad credit of November 2022: Secured and unsecured cards, including some that earn cash back or flexible points
▼ + stars: | 2022-10-31 | by ( Holly Johnson | Jasmin Baron | Freelance Writer | ) www.businessinsider.com time to read: +24 min

This credit card comes with no annual fee and no hidden fees, yet it's a Visa credit card that can be used anywhere Visa is accepted worldwide. How to choose the right credit card if you have bad creditBefore you pick the best credit card for your situation, you'll want to decide if you want a secured or unsecured credit card. A secured credit card is a type of credit card that requires a cash deposit as collateral. To avoid paying interest on purchases made with a credit card, you need to pay your credit card statement balance in full each month. American Express doesn't currently offer a secured credit card as most Amex cards require you to have a good to excellent credit score.

SEOUL, Oct 31 (Reuters) - Across South Korea, events such as autumn foliage festivals and K-Pop concerts are canceled, and grief-stricken communities are putting off gatherings after a Seoul crowd crush killed at least 154 people, threatening to crimp growth further. Universities have canceled weekend retreats known as MTs, and the opening event of the two-week Korea Sale Festa, the Korean version of the Black Friday, was called off. South Korea's southern resort island of Jeju called off the Jeju Olle Walking Festival, scheduled from Nov 3 to 5. The Korea Baseball Organization and Korea Volleyball Federation both said there won't be cheerleaders during its championship series. South Korea's economic growth already decelerated last quarter in response to slowing exports and a weakening currency.

☆ Britain's Boots to recruit 10,000 workers for Christmas period
▼ + stars: | 2022-10-23 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 24 (Reuters) - British health and beauty retailer Boots said on Monday it planned to recruit more than 10,000 temporary workers, as competition for staff for the Christmas trading period heats up. Register now for FREE unlimited access to Reuters.com RegisterThe British arm of German discounter Aldi said this month it aimed to recruit 3,000 workers before the festive period. John Lewis said in August it would recruit 10,000 Christmas staff for its department stores, Waitrose supermarkets and online operations. Boots is offering staff 45% off own brand products, while John Lewis is offering free meals. Register now for FREE unlimited access to Reuters.com RegisterReporting by James Davey; Editing by Edmund BlairOur Standards: The Thomson Reuters Trust Principles.

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