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Singapore cost of living sees pawnshops thrive

Agence France-PresseMay 17, 2013 23:30
Singaporean housewife Siti Khadijah Abdul Rahman accumulated a few thousand dollars' worth of gold accessories over the past two decades, but now a rising cost of living is forcing her to pawn them. With a stretched household budget that must also cater to school expenses for her two teenage children, the 49 year-old is pawning her gold to relieve pressure on her security guard husband, who earns Sg$1,500 ($1,211) a month. "Pawning is better than going to friends or family when you have budget problems," said Abdul Rahman. "When I have money, I will claim it back."

Good news for NYC newsstands? They could get to add items under proposal to raise price cap

The Canadian PressMay 13, 2013 15:01
NEW YORK, N.Y. - The newsstands that dot the city's sidewalks would be able to stock cellphone chargers, offer more batteries and, perhaps most importantly, upgrade their umbrellas under a proposal broached Monday to double a price cap on their wares. Newsstand operators and supporters say the City Council proposal to lift the more than decade-old limit from $5 to $10 would help the venerable businesses keep up with the times.

Tesco 'reassured' on India retail sector

Agence France-PresseMay 13, 2013 06:30
The boss of British supermarket Tesco held talks with officials in New Delhi Friday about India's new foreign investor retail policy as the chain decides on its strategy for the emerging market giant. The meeting between Tesco chief executive Philip Clarke and Indian officials came after the government last September changed its rules to allow international supermarkets to establish multibrand stores in the potentially lucrative sector.

South Korea department, discount store sales both fall in April; first time in three months

May 8, 2013 18:04
SEOUL (Reuters) - Sales at South Korea's top department and discount store chains fell simultaneously for the first time in three months, preliminary data showed on Tuesday, suggesting that private consumption in Asia's fourth-largest economy remains subdued. Sales at department stores run by Hyundai Department Store <069960.KS>, Lotte Shopping <023530.KS> and Shinsegae <004170.KS> last month fell by 1.6 percent from a year earlier, the finance ministry estimated, following with a 7.5 percent rise in March.

Asda to invest 700 million pounds, create 2,500 jobs

April 23, 2013 06:15
LONDON (Reuters) - Asda, Britain's second-biggest grocer, said on Tuesday it would invest over 700 million pounds ($1 billion) this year in its online operations, new and existing stores and its supply chain, helping to create 2,500 new jobs. The British arm of U.S. retailer Wal-Mart <WMT.N>, which currently trades from 568 UK stores, said it will open 10 new stores in the remainder of the year - five superstores, four new small format supermarkets and one non-food outlet. Two new stores have already opened this year.

Cold weather hurts British retail sales

April 18, 2013 05:00
By David Milliken and Olesya Dmitracova LONDON (Reuters) - Unusually cold weather hurt British retail sales in March, but the fall was small enough to leave the possibility that the economy as a whole avoided shrinking in the first three months of the year. Retail sales volumes slipped 0.7 percent on the month after strong growth in February to stand 0.5 percent lower on the year, the Office for National Statistics said on Thursday.

Debenhams defends price discounts as profit falls

April 18, 2013 02:45
By James Davey LONDON (Reuters) - Britain's Debenhams <DEB.L> defended its strategy of promotional discounts, criticised by analysts as being too aggressive, after it posted an expected 5-percent fall in first-half profit. Britain's second largest department store group, whose shares have fallen 15 percent following a profit warning in March, blamed snow in January for a drop in sales that it failed to recover fully in February despite additional promotions and discounts.

Tesco faces battle to sell unwanted real estate

April 17, 2013 11:00
By Tom Bill LONDON (Reuters) - Britain's sluggish economy and the growth of online shopping has killed the space race among British supermarkets, leaving Tesco sitting on over 100 unwanted sites it could take a long time to sell, property experts said.

Tesco's South Korean crown jewel flawed by new regulations

April 14, 2013 18:15
By Joyce Lee SEOUL (Reuters) - Tesco Plc <TSCO.L> finally managed to open a near-3,000 sq metre super store in South Korea, its largest market outside Britain, after a seven-month delay by agreeing not to stock 15 items including radishes, mangoes and some cuts of local beef.

Fashion retailers vying to attract customers

April 12, 2013 11:47
Fashion retail outlets, department stores and online shopping malls are struggling to attract female customers as they are tightening their purse strings amid the prolonged economic slump.
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