Nordstrom lowers prices, Retailers lobby government, Eastern European turmoil, H&M opens in Korea

Prices to decline at Nordstrom

Nordstrom to Lower Prices (WSJ)
Prices have gone up in recent years at Nordstrom, but this year, the retailer’s average prices will decline.

Retail bosses to lobby government over rate rises (Drapers)
“The UK’s largest store groups have united to urge the Government to reverse plans to push through significant rate rises that will add tens of millions of pounds to retailers’ annual costs.”

Economic turmoil in Eastern Europe (Just-Style)
For years, Eastern Europe has been a growth region for manufacturers, but now several countries in the region are facing significant declines of their GDP in 2009.

H&M Plans to Open First Store in South Korea (WWD)
The Swedish fast fashion retail giant, H&M, will open a South Korean outpost. (Subscription required)