Retail

Abercrombie is the lowest-rated retailer by shoppers

(FinancialPress) — Abercrombie & Fitch (ANF) attained a dubious honor – the company recorded the lowest score in the American Customer Satisfaction Index. The American retailer was the lowest rated one within its industry. Out of a max of 100, it got 65 points – a whole 10 points lower than the overall average for the sector. The record-setting performance marks the debut for the company on the list. The ranking adds to the ever-mounting woes of the clothing retailer, which has been hard at work with its rebranding efforts ever since former CEO Mike Jeffries exited the company in late 2014. “Normally when we see that kind of a gap, it’s a company so large it has monopoly power like, Walmart(WMT) or McDonalds (MCD)…Abercrombie and Fitch is not that, they ar...

Alibaba acquires big stake in China‘s version of Walmart

(FinancialPress) — Alibaba(BABA) made a bold investment in the retail sector. The e-commerce giant announced the acquisition of a 36% stake in Sun Art Retail Group (SURRY) for a value of $2.9 billion. The latter is widely considered to be the chinese version of Walmart (WMT). The retailer has approximately 450 “hypermarkets“ across chinese territory, branded with its fictitious names Auchan and RT-Mart. The investment is made possible through Taobao, Alibaba‘s famous online shopping service. Over the past two years, Alibaba has increased its pressence in traditional retail spaces. With its Hema groceries brand, it offers a service that is part online and part offline shopping. IGD, a regional research firm, sees the move is one more in BABA‘s bet in capturing a big market share in China‘s ...