News@Nine FRIDAY 31ST OCTOBER 2014
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Walmart plans 20,000 holiday price cuts

31 October | 06:21 AM | CBS News | Breaking News

The massive price promotions start tomorrow, and the retail giant will also offer free shipping on some online purchases. When Walmart (WMT) gets ready for the holidays, it's serious business. The world's largest retailer said it's planning to cut prices on 20,000 products this holiday season, aiming to lure consumers back into its stores and to its website with the massive number of reductions starting on Nov. 1. At any other time, the company normally offers about 10,000 price cuts, or "rollbacks," executives said on a conference call with reporters.

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Qatari Harrods owners cash in with £118m dividend payment

Luxury department store Harrods paid out a £118m dividend to its Qatari owners after making record sales of £794m in the year ended 1 February 2014, up from £716m in the previous year. The business also paid a £35.6m royalty to Harrods Corporate Management. It said the year had seen a “confirmed programme of significant capital expenditure”, with total additions of £58.9m, up from £52.1m.


Sony reports narrower second-quarter loss than estimated on strong PlayStation 4 sales

Japan's Sony Corp reported a second-quarter operating loss on Friday that was narrower than analysts had estimated, as blockbuster sales of its PlayStation 4 games console reduced the impact of a sluggish smartphone division. Operating loss reached 85.6 billion yen (482.71 million pounds)$771 million) in July-September, compared with the 164.3 billion yen average estimate of 3 analysts polled by Thomson Reuters.

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Sears Laying Off More Than 7,000 Workers and Closing Over 100 Stores

Retailer struggling to hang on, cuts stores and employees before the holidays. Sears Holdings will shed 63 Kmart Stores, 34 Sears stores, 34 Sears Auto Centers, 1 Kmart Distribution center, and 1 Sears Product repair facility , according to Seeking Alpha. Although Sears has made plans for leasing thousands of its open and operating facilities, it also has stated that its physical stores remain an integral part of its transformation.

My Tube: A sneak preview of Marks & Spencer's Per Una A/W 2014 range
A sneak preview of Marks & Spencer's Per Una A/W 2014 range
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Starbucks plans delivery after sales fall short

After reporting disappointing quarterly sales Thursday, Starbucks said it will offer a delivery option on its mobile app in select areas of the U.S starting next year. The Seattle-based company declined to provide more details, but has been pushing to get people to use its app as a way to build customer loyalty. It also previously said it plans to let customersacross the country place orders ahead of time on their smartphone by next year, an option intended to get people in and out of stores quicker.


Google sees e-commerce swelling up to $40 billion by 2020

Indian e-commerce has been in the news constantly for the fund-raising spree by companies in the sector. Justifying the euphoria over online retail, Google has estimated Indian e-commerce to touch $30 -40 billion by 2020, from only $3 billion to 4 billion now. Indian retail market would have a size of $1 trillion by 2020, said India director for e-commerce and local classified, Nitin Bawankule, on Thursday.

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UK consumer morale edges down as economic outlook clouds - GfK

British consumer morale edged down for a second month in October as households showed less faith in the outlook for the economy, a survey by researchers GfK showed on Friday. GfK's headline consumer confidence index fell in October to -2 from -1 in September, as expected. While the reading was the weakest in three months, the index was still close to a nine-year high of +1 touched in August and June.

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