Softbank group

Investors opted not to chase the market's upside higher prior to the close following the Tokyo Metropolitan government announcing a record single-day spike in COVID-19 cases in the capital with 224 new infections, compared to the previous high of 206 cases recorded on April 17, brokers said. … [Read more...] about Japan’s Nikkei rises on hopes for BOJ buying, record COVID-19 cases in Tokyo caps gains

Japanese shares bounced back on Thursday buoyed by technology-related stocks following a rise in U.S. peers overnight, but gains were limited by a surge in domestic coronavirus cases. The benchmark Nikkei share average rose 0.4% to 22,529.29, clawing back from a 0.78% drop in the previous session. On the Nikkei index, there were 63 advancers against 158 decliners. The market extended gains after the midday break supported by the Shanghai Compsite stocks rallying into eighth day. However, investor sentiment was soon dampened by 224 fresh coronavirus cases in Tokyo on Thursday, which hit a record daily high. The market showed little reaction to data that Japan's machinery orders unexpectedly rose 1.7% in May after a 12.0% slump in April due to the pandemic. Domestic technology-related stocks advanced after the Nasdaq marked its fourth record closing high in five days on Wednesday. Tech conglomerate and Nikkei heavyweight SoftBank Group Corp jumped 4.52%, lifting information … [Read more...] about Japanese shares rebound but spike in COVID-19 cases caps gains

Malls have been going through challenging times even before the advent of COVID-19. COVID-19 has just brought sharper focus to these challenges with the reopening of Malls on 08 June 2020. The retail industry is taking stock and reinventing themselves to successfully revive the sector in the post COVID-19 world says Suresh Singaravelu: executive director - retail, hospitality and business expansion, Prestige Group. He spoke about the impact of COVID-19 on the retail industry and the plans for its revival with Sobia Khan of ET. Excerpts...How are mall owners coping with the current situation?The current situation can be divided into 2 distinct parts – lockdown and post-lockdown. Malls were temporarily closed for about 2 months. During the closure period, there was no revenue for retailers, resulting in great hardships for both them and us. However, post lifting of lockdown there is some economic traction in terms of consumer spend. We recognize that this traction will take some … [Read more...] about Indian retail industry may see revival by August 2020: Executive director, Prestige Group

NEW DELHI: Tata group retail firm Trent Ltd is looking to pursue "accelerated expansion" in the future once its existing stores are back in business after being impacted by the coronavirus pandemic, according to the company's annual report.The company said India continues to be amongst the most attractive retail markets globally with its strong demographics and growing consumption, factors which will continue to play out over medium to long term."We will continue to pursue our store expansion agenda once we have our existing portfolio back in business. Given both internal as well as external challenges, we did not meet our aspiration for store additions in FY20," Trent Ltd said in its annual report for 2019-20.However, the company said, "We are committed to resolving the challenges and pursuing accelerated expansion in the future. We also continue to monitor the existing stores and refresh the portfolio through multiple initiatives including absorption/refurbishment of brand diluting … [Read more...] about Tata group retail arm Trent looking to pursue ‘accelerated expansion’

Kalyan Krishnamurthy, CEO, Flipkart Group, said, “Through this investment, we look forward to partnering with the team at Arvind Youth Brands to continue to grow the market for its portfolio of products and enhance the strong brand equity that has been built over the last few decades.” … [Read more...] about Flipkart Group invests ₹260 crore in Arvind Youth Brands