Retail

Bloomberg PepsiCo Inc is to sell Tropicana, Naked and other juice brands to French private equity firm PAI Partners for about $3.3 billion as it seeks to bolster its balance sheet and focus on healthier snacks and zero-calorie drinks. The US drinks giant will retain a 39% noncontrolling interest in a new holding company for the brands and has also …

Bloomberg Sourabh Saini, a delivery driver for Indian online supermarket BigBasket, is thrilled by the attention he gets as he zips around Noida, a satellite city on the outskirts of Delhi, in his three-wheeled electric van. “I like how my electric van always gets noticed,” said Saini, who made the switch from fossil fuels about eight months ago as part …

Bloomberg Adidas AG fell the most in four months as investors looked past a modest increase in profit guidance and focused instead on weaker demand in China and factory shutdowns in Vietnam. While revenue in Europe and North America almost doubled in the second quarter, boosted by the phasing out of pandemic restrictions and a return of major sporting events, …

Bloomberg Amazon.com Inc — summoning its inner Oprah — will offer cash prizes of as much as $500,000 as well as cars and vacation packages to frontline employees who can prove they have been vaccinated against Covid-19. Unwilling so far to mandate vaccinations for its 1.3-million-strong workforce, the world’s largest online retailer is hoping a corporate lottery — called Max …

Bloomberg A federal official has recommended overturning the results of a union election at an Amazon.com Inc warehouse in Alabama, giving the retail union an opportunity to reverse its defeat, according to people familiar with the issue. After losing the election in April, the Retail, Wholesale and Department Store Union appealed the outcome to the National Labor Relations Board, setting …

Bloomberg Amazon.com Inc is tacking on a delivery fee for Prime members who shop at Whole Foods Market in several US cities, an indication that the economics of grocery delivery continue to pose a challenge for even the world’s largest online retailer. Shoppers were informed of a $9.95 service fee for deliveries beginning on August 30 in the Boston and …

Bloomberg Hong Kong’s retailers saw a sharp downturn in June as the city’s borders remain closed to tourists, with businesses looking ahead to the distribution of consumption vouchers for a boost in coming months. Retail sales by value grew 5.8% in June from a year ago to HK$28.1 billion ($3.6 billion), a government report showed, well short of the 14.1% …

Bloomberg Alibaba Group Holding reported revenue that missed estimates, suggesting plans to hike spending in pursuit of growth have yet to gain traction. Revenue for the three months ended June climbed from a year earlier to 205.7 billion yuan ($31.8 billion), compared with the 209.4 billion yuan average of analyst estimates. Net income was 45.1 billion yuan, rebounding from a …

Bloomberg Shares of e-commerce companies fell sharply, with several seeing their steepest declines in months, after Amazon.com Inc’s weaker-than-anticipated sales damped the outlook for other retailers. Amazon shares fell as much as 8.1%, their biggest one-day intraday drop since May 2020. That came after its revenue lagged forecasts for the first time since 2018, according to data compiled by Bloomberg, …

Bloomberg Dole Plc, the world’s largest produce company, fell 9.4% in its trading debut after delaying and downsizing its US initial public offering to raise $400 million. Share’s of Dublin-based Dole, which sold at the bottom of a lowered range for $16 in the IPO, opened trading at $15 and closed at $14.50 in New York trading, giving the company …