Forever 21 blames bankruptcy on de minimis exemption
Forever 21, the US clothing retailer, has gone down shouting: it has squarely blamed its ...
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By Mike Weir
In its battle with economic headwinds, the world’s biggest retailer, Walmart, invested more than $350m in e-commerce last year and has promised to spend more. CEO Doug McMillon said yesterday that the infrastructure needed is easier to develop than traditional stores, of which Walmart opened or expanded 529 in 2013 at a cost of $13bn.
Reporting 2013 global sales of $473bn, a lacklustre increase of 1.6%, management also disclosed that like-for-like sales in the US fell 0.6%. Overall operating profits fell 3.1% ...
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