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Retail news from around the globe

Ikea bets on Britain Ikea’s shopping centre business is spending £170 million ($324 million) to buy and upgrade a London mall in its first foray into Britain, betting it can win over a nation increasingly doing its shopping online. Ingka Centres, an arm of the world’s biggest furniture retailer, said it would put a new, small-format Ikea store in the Kings Mall in London’s Hammersmith district. This the first time the company has entered a market without leading with a traditional Ikea wa