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Tag: china

Adidas and Puma sales collapse in China amid coronavirus outbreak | Business

Adidas and Puma have reported a collapse in sales in China as a result of the coronavirus outbreak and warned disruption was spreading to other markets. Adidas said its first-quarter sales would be down by as much as €1bn (£870m) in Greater China and about €100m in Japan and South Korea. The slump would lead …

Adidas and Puma sales collapse in China amid coronavirus outbreak | BusinessRead More

Apple China stores all open apart from four

Apple staff and customers, wearing facemasks to protect against the COVID-19 coronavirus, are seen on the shop premises in Beijing on February 22, 2020. Nicolas Asfouri | AFP | Getty Images All of Apple’s retail stores in mainland China apart from four are now open after the coronavirus outbreak forced the iPhone maker to close …

Apple China stores all open apart from fourRead More

China’s retail industry sees a drop of 8.8 pc in deal activity in Q4 2019

China’s retail industry saw a drop of 8.8 pc in overall deal activity during Q4 2019, when compared with the last four-quarter average, according to GlobalData’s deals database. A total of 31 deals worth US$ 3.21bn were announced in Q4 2019, compared to the last four-quarter average of 34 deals. Venture financing was the leading …

China’s retail industry sees a drop of 8.8 pc in deal activity in Q4 2019Read More

China’s Ant Financial buys stake in Sweden’s Klarna

Klarna CEO Sebastian Siemiatkowski attends the launch of the online payment start-up’s pop-up store in London. Dave Benett | Getty Images for Klarna Ant Financial, the payment affiliate of Chinese e-commerce giant Alibaba, has invested in Swedish financial technology start-up Klarna as part of a global partnership between the two firms. Klarna said Wednesday that …

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China transferred detained Uighurs to factories used by global brands – report | World news

At least 80,000 Uighurs have been transferred from Xinjiang province, some of them directly from detention centres, to factories across China that make goods for dozens of global brands, according to a report from the Canberra-based Australian Strategic Policy Institute (ASPI). Using open-source public documents, satellite imagery, and media reports, the institute identified 27 factories …

China transferred detained Uighurs to factories used by global brands – report | World newsRead More

Supply chains start to come back online in China: Retail trade group CEO

Some of the coronavirus-driven supply chain disruption in China is subsiding, National Retail Federation CEO Matthew Shay told CNBC on Thursday. Shay said he’s in touch with CEOs who have operations in the country and they tell him much of the needed inventory “is already pulled.” “It’s either on the water or in the ports or …

Supply chains start to come back online in China: Retail trade group CEORead More

Starbucks reopens China cafes after closures due to coronavirus

A man wearing a face mask walks past a deliveryman as he waits outside a Starbucks store as the country is hit by an outbreak of the new coronavirus, in Beijing, China February 7, 2020. Jason Lee | Reuters Starbucks has reopened most of its cafes in China after temporarily closing themto stop the spread …

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Trade war, coronavirus show retail too reliant on China: Ex-Macy’s CEO

The trade war and coronavirus outbreak helped demonstrate that retail supply chains have become too reliant on China, former  CEO Terry Lundgren told CNBC on Wednesday. “The answer is yes. It is too much,” Lundgren said on “Closing Bell.” Lundgren, who retired from the Macy’s board in January 2018, noted different categories of the retail …

Trade war, coronavirus show retail too reliant on China: Ex-Macy’s CEORead More

PepsiCo targets online snacks growth in China with definitive agreement to acquire Be & Cheery

PepsiCo, Inc. announced that it has entered into a definitive agreement to acquire Hangzhou Haomusi Food Co., Ltd., one of the largest online snacks companies in China, from Haoxiangni Health Food Co., Ltd. for US $705 million. PepsiCo has been operating in China for nearly 40 years and this transaction marks an important step in …

PepsiCo targets online snacks growth in China with definitive agreement to acquire Be & CheeryRead More

Tense times for small business owners who import from China

Anne Harper, CEO of OMG Accessories, says many of the products she sells are made outside of Wuhan, where the coronavirus has been heavily concentrated. CNBC As the number of confirmed coronavirus cases and deaths around the world continues to rise, small business owners that import from China are on edge. Kyle Kirshner has been …

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