118-year old US department store chain JC Penney has filed for bankruptcy protection in Corpus Christi, Texas amid coronavirus pandemic-led lockdowns.

Facebook recently announced investment in Reliance Platforms and the deal will boost Reliance Jio’s presence in Indian retail via Facebook’s social networking app WhatsApp.

Mumbaikars will soon have the option for eating, shopping and entertainment round the clock.

Commercial Real Estate sector depends heavily on trends in the retail market and with consumption declining in India, retail space leasing activity in seven major Indian cities has dropped by 35 pe

San Francisco - Amazon.com posted an 18-per-cent boost in sales and a 24 per cent rise in profits as the online retail giant shrugged off the effects of the economic downturn.

The Seattle-based retailer said that it earned 177 million dollars in the first quarter, compared to 143 million dollars a year ago. Sales were up to 4.89 billion dollars compared to 4.13 billion dollars a year ago.

New York  - The global economic crisis has scrambled the pecking order among US firms, with Exxon Mobil ousting Wal-Mart as the top revenue-earning company.

The energy company vaulted to the top of the business magazine Fortune 500 list, pushing the world's largest retailer to second place.

Profits among Fortune 500 companies saw the worst declines in the list's 55-year history, falling 85 per cent in 2008 compared to 2007, for total losses of 99 billion dollars.