U.S. retailers prepare for the onslaught of Chinese tourists expected to celebrate the Chinese...

|By:, SA News Editor

U.S. retailers prepare for the onslaught of Chinese tourists expected to celebrate the Chinese New Year by hitting high-end stores. In measures designed to stoke sales, department stores such as Saks (SKS +0.6%) and Macy's (M -0.1%) in New York City have adopted their payment systems to accept China UnionPay credit cards and are training their staff to learn simple Chinese phrases.