The e-commerce platform Paytm Mall has brought in the audit and consulting firm Ernst & Young to investigate an alleged cash-back fraud inside the business where employees are accused of creating fake vendors.
House of Fraser is to get a new owner after calling in administrators Friday. A fast deal to buy a slimmed-down version of the chain had been on the cards with news Friday that retail tycoon Mike Ashley is now in charge.
The Indian industry witnessed a temporary slowdown following implementation of the goods and services tax (GST) in July this year, despite government efforts to mitigate the problems and improve business.
Indian online marketplace Snapdeal has accepted Flipkart's revised takeover offer of up to $950 million, two sources said on Wednesday, providing heft to its bigger rival in a high-stakes battle with Amazon.com Inc.
Target Corp forecast sales to increase for the first time in five quarters, thanks to improved customer traffic and sales trends, sending its shares up as much as 4.4 percent and pushing retail stocks higher.
The back off from Abercrombie & Fitch on Monday about a potential sale shows that mergers and acquisitions for fashion retailers are not the easiest move, only braved by a select few and avoided after a certain age.