Retail Sector

Late Easter Blamed for Falling Retail Sales in March

On Tuesday a survey of the retail industry showed that retail sales in Britain experienced its largest yearly fall in March since the month of April in 2013. This unfavourable state of sales that has been seen in the year on year comparison, is thought to have has happened because of the late Easter timing this year.

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House of Fraser to Travel East as Chinese Group Offer to Buy Majority Stake

Nanjing Cenbest of the Sanpower group which is a Chinese chain of luxury department store has purchased a majority share of the British firm House of Fraser. Now about fifty stores of Fraser could be found opening in China at various locations under the name of Oriental Fraser.

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Walmart, Best Buy offer Xbox One/Titanfall bundle for just $449

Two major retailers, viz. Walmart and Best Buy, are offering the much sought about Xbox One/Titanfall bundle for $449, which represents attractive savings of $50.

The suggested retail price of the Xbox One/Titanfall bundle from Microsoft is still $499. What makes Walmart and Best Buy's new offer more attractive is the fact that Titanfall game separately costs $60.

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Target was warned of vulnerabilities ahead of data breach: report

Target Corp.'s computer security staff had warned the retailer about the risk of potential hacking attack ahead of the recent data breach but the retailer brushed off the warning, people with direct knowledge of the matter said.

Citing anonymous sources, The Wall Street Journal (WSJ) reported that at least one Target intelligence analyst had advised the retailer to review the security of its payment card system nearly two months before cyber criminals hacked into the system and slipped away with credit and debit card numbers of millions of customers.

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Home Retail upgrades full-year profit forecast for second time since January

Home Retail Group (HRG) on Thursday upgraded its full-year profit forecast, thanks to continued sales growth at its Argos chain.

Raising its full-year profit forecast for the second time since January, the group said that it expected to pocket £90 million in the soon-to-be-ended year.

The group's Argos chain reported an increase of 5.2 per cent in underlying sales over the eight-week to March 2. The increase in sales was mainly driven by a robust demand for tablet computers, fridges and freezers.

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