china

Retail
Alibaba Sales Surge With Singles Day Event

Alibaba kicked off its 11.11 Global Shopping Festival on November 11 at midnight in China, and, in the first minute and eight seconds, gross merchandise volume (GMV) settled through the Alipay service reached $1 billion. In the festival’s first hour, Alipay GMV reached $12 billion.

Retail
NRF: Imports Stay Strong Ahead Of December Tariffs

Imports at the nation’s major retail container ports are expected to hit their highest level of the year in November just before additional tariffs take effect in December, according to the Global Port Tracker report from the National Retail Federation and Hackett Associates.

Home Décor
Tariffs Impact Dorel Dividend

As it cited the difficulties of dealing with tariffs imposed by the U.S. on China, Dorel Industries said that a review of preliminary third quarter results has prompted the company’s board of directors to suspend its dividend.

Retail
International Shipping Rules Changed In Favor Of U.S.

The Universal Postal Union, in an Extraordinary Congress, has given the United States the go-ahead to raise postal shipping rates on packages under 4.4 pounds, and end a break that gave international firms a big advantage over domestic companies in moving small-item packages.

Financials
Ross Stores Rolls Through Q2

Ross Stores rolled through the second quarter, growing both sales and earnings. The off-price retailer also updated its earnings guidance with a cautious eye on the new tariffs on goods sourced from China.

Retail
NRF: Import Levels Expected To Remain Strong

The flow of imports at the nation’s major ports is expected to remain strong, according to the National Retail Federation, but growth in the months ahead is expected to be modest compared to 2018 given the rush last year to beat tariffs.

Retail
Walmart Settles With Feds Over Bribery Investigations

After a seven-year investigation, Walmart has entered into a global settlement with the United States Department of Justice and Securities and Exchange Commission regarding the company’s compliance with the U.S. Foreign Corrupt Practices Act, the retailer announced.

Other
Paying A Steeper Price For Tariffs

We’re approaching the midway point of a year that started with so much forward momentum. But after the uneven retail sales results released the past few weeks, uneasiness is setting in as the housewares business speeds toward the second half.

Trade Shows
IHA Encourages Member Action On Latest Proposed Tariffs

With the most recent list of proposed tariffs affecting the housewares industry, the International Housewares Association is encouraging members to contact their congressional representatives or provide comment to the United States Trade Representative (USTR) on the tariffs’ effect on their business.

Retail
New Round Of Proposed Tariffs Includes Housewares

Several housewares and home goods categories are in the crosshairs of a potential next round of 25% tariffs that could be imposed by the Trump administration on an additional $300 billion in Chinese-made goods. This follows the 25% tariffs that were imposed on $200 billion worth of Chinese-made products that went into effect on Friday, May 10.

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