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Etsy announces IPO

5 March | 08:27 AM | My-Retail Media | My-Retail Media

Craft, vintage and homemade specialist website Etsy has filed for an initial public offering of stock valued at up to USD 100 million. The Brooklyn-based company revealed on Wednesday that it planned to float with an announcement to its sellers and online community that it intends to list on the NASDAQ under the ticker symbol ETSY. Founded in 2005, Etsy has since then built an online community of millions of sellers and buyers both online and offline.

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Carrefour Battles Tough European Market

French retailer Carrefour SA said Thursday that it continued to gain ground in its efforts to kick-start growth despite difficult business conditions in Europe as it reported an increase in full-year operating profit. The company said operating profit rose 6.7% to EUR2.57 billion ($2.84 billion) as the company cut costs as part of a three-year turnaround plan.


Zalando plans hiring spree to expand online fashion platform

Europe's largest dedicated online fashion retailer Zalando (ZALG.DE) said on Thursday it plans to hire a large number of new staff as it expands its fashion platform to support a target of sales growth between 20 and 25 percent in 2015. Zalando said it expects its earnings before interest and tax (EBIT) margin to be broadly around the 2014 level of an...


Currency woes weigh on Adidas

The figures Adidas group revenue grew six per cent on a constant currency basis in the fourth quarter of 2014, largely driven by retail growth of 20 per cent , while wholesale was up a more tempered five per cent . The German firm's TaylorMade Golf brand suffered a 28 per cent decline in sales. North America, where upstart sports brand Under Armour...

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Apple overtakes Samsung as the world's biggest smartphone maker

Demand from China helps US tech firm shift 74.8m units in last quarter of 2014, 1.8m more than South Korean rival Apple has officially overtaken Samsung as the world’s biggest smartphone maker, selling more phones in the Christmas quarter than any other brand thanks to rising demand in China. The US company sold 74.8m smartphones, just ahead of Samsung’s 73m units, analysis firm Gartner said.

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China backs e-commerce expansion in win for Alibaba,

China will back e-commerce development and guide international expansion by Chinese internet companies, Premier Li Keqiang said on Thursday, in an endorsement for firms such as Alibaba Group Holding Ltd and Inc.Addressing the opening of China's annual parliamentary meeting in Beijing, Li broadly laid out China's "Internet Plus" strategy, which...

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AbbVie to buy cancer drug maker Pharmacyclics in $21 billion deal

Drugmaker AbbVie Inc (ABBV.N) said it will buy Pharmacyclics Inc (PCYC.O), the maker of blockbuster cancer drug Imbruvica, for about $21 billion (about 14 billion pounds)to broaden its oncology drugs pipeline.The deal gives AbbVie access to Pharmacyclics' cancer drugs portfolio, lessening the Chicago-based company's dependence on its rheumatoid...

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