Britain's internet upstarts killing US department stores

More than £3.6bn was wiped off the US retail store sector this month after established names such as Macy's and JC Penney saw sales plunge in the first three months of the year.

Britain's online fashion upstarts are taking on American retailers as US shoppers turn away from traditional department stores.Asos and Boohoo are fighting for a share of the lucrative US market as appetite for online shopping rockets and in-store shopping declines.More than £3.6billion was wiped off the US retail store sector this month after some of the most established names such as Macy's, Kohl's, Dillard's, Nordstrom and JC Penney saw sales plunge in the first three months of the year. T...