Retail news round-up on October 24, 2014: Amazon posts third-quarter loss; Apple to open 15 stores in China; H&M celebrates 10 years of designer collaborations
Amazon reports third-quarter loss of $437m
Amazon has posted a third-quarter loss of $437m (£273m) - up significantly from the $41m loss it reported for the same period last year.
The retailer also expects to report a bigger loss in the next three-month period.
Amazon founder Jeff Bezos said: “As we get ready for this upcoming holiday season, we are focused on making the customer experience easier and more stress-free than ever.”
Apple to launch 25 stores in China within two years
Apple plans to open 25 retail stores in China within the next two years. The company, which earns about 15% of its revenue in Greater China, has 15 outlets in the country at present.
H&M marks designer collaborations with celebratory book
H&M is to launch a fashion book chronicling 10 years of guest designers and collections. The book, entitled The First 10 Years, will be released on November 6. It will be sold in selected stores and 25% of sales generated will be donated to UNICEF’s campaign against child marriage.
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