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Dec 14, 2012

Best Buy extends deadline for founder bid

By Dhanya Skariachan and Nivedita Bhattacharjee

(Reuters) – Best Buy Co Inc (BBY.N: Quote, Profile, Research, Stock Buzz) agreed to extend the deadline to February 28 for founder Richard Schulze to make a bid for the company, continuing the uncertainty for shareholders over whether he can put a bid together.

Best Buy shares fell 14.2 percent to $12.12 on the New York Stock Exchange.

The company said on Friday the extension would allow Schulze to include the consumer electronics retailer’s full-year results as part of his due diligence review.

Dec 5, 2012

West Coast crisis over, U.S. retail trade groups look East

By Nivedita Bhattacharjee

(Reuters) – With West Coast port workers back on the job Wednesday, U.S. retailers and trade groups were turning focus back to negotiations to stop a potentially more damaging port strike in the East.

Retailers ranging from Target and American Eagle to Home Depot told Reuters they have their holiday merchandise in place and the eight-day long strike at the ports of Los Angeles and Long Beach would not upset plans.

Nov 28, 2012

American Eagle sees strong holidays, Aeropostale wary

By Nivedita Bhattacharjee

(Reuters) – Teen clothing retailer American Eagle Outfitters Inc (AEO.N: Quote, Profile, Research, Stock Buzz) said it got off to a strong start for the holiday selling season and raised its earnings forecast for the year, while Aeropostale Inc’s (ARO.N: Quote, Profile, Research, Stock Buzz) forecast showed it expects a tougher season than its rival.

Aeropostale, which has been losing out to its rivals as it sees inconsistent demand from its young clients, said the environment in the teen apparel space is still heavily promotional. Analysts have said, however, that on basic items like sweaters and T-shirts, Aeropostale was cutting prices more than the competition.

Nov 28, 2012

Bangladesh fire protests rage, supervisors arrested

DHAKA/CHICAGO (Reuters) – Three supervisors of a Bangladeshi garment factory were arrested on Wednesday as protests over a suspected arson fire that killed more than 100 people raged on into a third day, with textile workers and police clashing in the streets of a Dhaka suburb.

The government has blamed last weekend’s disaster, the country’s worst-ever industrial blaze, on saboteurs and police said they had arrested two people, who were seen on CCTV footage trying to set fire to stockpiles of material in another factory.

Nov 28, 2012

American Eagle sees strong holiday season, shares up

Nov 28 (Reuters) – Teen clothing retailer American Eagle
Outfitters Inc said it was heading into a strong holiday
season as both its casual clothes and lingerie sold well, and
more customers shopped at its stores despite fewer discounts
than last year.

Shares of the company rose 8 percent Wednesday morning on
the New York Stock Exchange.

Nov 27, 2012

Bangladesh blames sabotage for factory fire; country mourns

DHAKA/CHICAGO (Reuters) – Bangladesh said a fire that killed 111 textile workers was sabotage, as protesters took to the streets for a second day on Tuesday and garment factories across the world’s second-biggest clothes exporter stopped work to mourn.

Meanwhile two other incidents this week, neither of which caused injuries, had local manufacturing leaders scrambling to assess whether their industry was under attack.

Nov 27, 2012

Bangladesh mourns, calls factory fire ‘act of sabotage’

DHAKA/CHICAGO, Nov 27 (Reuters) – Bangladesh said a fire
that killed 111 textile workers was sabotage, as protesters took
to the streets for a second day on Tuesday and garment factories
across the world’s second-biggest clothes exporter stopped work
to mourn.

Meanwhile two other incidents this week, neither of which
caused injuries, had local manufacturing leaders scrambling to
assess whether their industry was under attack.

Nov 26, 2012

Holiday shoppers buy early, often, online

CHICAGO (Reuters) – U.S. shoppers went to stores earlier this Thanksgiving weekend and bought online more than before, giving retailers a strong start to the holiday shopping season, data showed on Sunday.

The more successful retailers, analysts said, were companies such as Wal-Mart Stores Inc and Macy’s Inc, which did better at combining physical stores with their online and mobile channels into a seamless shopping experience.

Nov 25, 2012

U.S. holiday shoppers buy early, often, online

CHICAGO, Nov 25 (Reuters) – U.S. shoppers went to stores
earlier and bought online more than before this Thanksgiving
weekend, giving retailers a strong start to the holiday shopping
season, data showed on Sunday.

Likely beneficiaries included retailers that have done a
better job of combining their physical stores with their online
and mobile channels into a seamless shopping experience,
analysts said, mentioning the likes of Wal-Mart Stores Inc
and Macy’s Inc.

Nov 25, 2012

Online shopping grows after U.S. holiday store traffic ebbs

By Nivedita Bhattacharjee

(Reuters) – Internet sales continued to grow through the U.S. Thanksgiving holiday weekend, feeding overall transactions even as traffic to stores likely slowed after a strong, early start.

In the latest sign of the growing importance of Internet-based retailing, comScore Inc said “Black Friday” online sales topped $1 billion for the first time, while IBM said online sales rose 16.9 percent year-over-year on Saturday.

    • About Nivedita

      "Think all things tech and telecoms. Currently in Mumbai. Previously in Chicago, covering retail, transport and airlines. Joined Reuters in 2008."
      Joined Reuters:
      2008
      Languages:
      English, Hindi, Bengali
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