  | Global retail industry news |  |
- Retailer challenges street closure for market in New Zealand
The Hamilton City Council allows Commerce Street to be closed every Saturday of the year except one for the Frankton market. The street is only supposed to be closed for 31 days each year, but because the market only requires the street to be closed a half day, the council allows it to be shut almost every Saturday. Forlongs, Frankton's biggest retailer, is now challenging the situation. The New Zealand Herald (10 Oct.)       | Move beyond credit risk defense. Gain the power to grow with BusinessIQ℠. For a limited time, you can see the benefits of Experian business information for yourself with a 30 day free trial* of our commercial credit reports and scores – with no strings attached. |
 - American Apparel reports rise in quarterly sales in Europe
American Apparel has faced a number of challenges in recent years, but following its restructuring, it has bucked the sales trend in Europe. Despite reduced consumer spending in the UK, the clothing retailer has posted positive sales growth. American Apparel said like-for-like sales in Europe and the UK rose 3% in the third quarter. The Independent (London) (09 Oct.)  | Improve Holiday Sales Results with Tools from Akamai!
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 - Fabindia aims to get EAST products into India
Fabindia, an ethnic wear chain basd in New Delhi, has taken a majority stake in EAST, a womenswear retailer based in the UK. "With the acquisition, we have the option of getting EAST products into India and also improving our apparel line using their design capabilities and technology," said Sunil Chainani, who represents Fabindia on EAST's board. The Economic Times (India) (10 Oct.)  | Let Social Media Find Your Staff For You
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 - Online shopping fraud in UK drops to lowest level in 5 years
Financial Fraud Action UK has released figures that show e-commerce fraud resulting from card-not-present transactions dropped in the first six months of 2011. The decline was attributed to measures required by the Payment Card Industry Data Security Standard and increased online screening measures by Visa and MasterCard. InternetRetailing.net (07 Oct.)  | Spotlight on Mass Merchandise |  |  | | - Wal-Mart ordered to shut seven stores in China amid probe
The industry and commerce administration of Chongqing, China, ordered Wal-Mart Stores to suspend operations at seven of its local stores as an investigation is conducted into claims the retailer mislabeled some pork products. "The closure of some of the stores in Chongqing for the next 14 days will allow us time to focus on implementing corrective actions," according to a statement from the retailer. Bloomberg Businessweek (10 Oct.) - Cordes no longer wants to renew contract as Metro CEO
Metro CEO Eckhard Cordes recently won support from the German retailer's leading shareholder, but now he says he does not want to renew his contract. The company's supervisory board members were planning to vote on whether to extend Cordes' contract beyond October 2012. Reuters (09 Oct.) | NRF News | | | | - High unemployment in U.S. remains primary concern as holiday season approaches
Following the announcement that U.S. employers added 103,000 jobs in September and the unemployment rate remains at 9.1%, concerns are high among the retail industry. "While the September jobs numbers were better than expected, there is no doubt the economy is still facing significant headwinds. With the start of the holiday season just three weeks away, the persistently high unemployment rate is expected to hinder consumer demand and impact confidence," said NRF President and CEO Matthew Shay. NRF has estimated that retailers will hire between 480,000 and 500,000 workers this holiday season. Read more.
| SmartQuote | | | |  | We shall not cease from exploration, and the end of all our exploring will be to arrive where we started and know the place for the first time."
--T.S. Eliot, American-British writer, quoted for Columbus Day, Oct. 10, 2011  |
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