Retail

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 ...

Bloomberg America’s corporate giants began ratcheting up the pressure on unvaccinated employees, aiming to turn the tide against a resurgent virus that threatens the economic recovery. Walmart, the largest private employer in the US, is requiring headquarters and regional staff to be vaccinated by October 4, instituting a policy that may set a standard for corporate America as the highly ...

Bloomberg Amazon.com Inc’s weaker-than-expected second-quarter results has sent its founder’s fortune tumbling. The net worth of Jeff Bezos fell $13.5 billion after the after-market results missed Wall Street’s expectations and foreshadowed an end to the retailer’s pandemic-fueled sales surge. The drop erased 80% of his wealth gains for the year. Amazon’s shares dropped 7.2% to $3,339.18 at 9:53 a.m. in ...

Bloomberg The bigger they are, the harder they fall. Amazon.com Inc’s shares plummeted as much as 8.1% on July 30 after the retail giant reported sales below analyst estimates for the first time since 2018. That pared more than $130 billion from the company’s market capitalisation, a figure that, if it were for a single company, would be larger than ...

Bloomberg Procter & Gamble Co rose in early trading after reporting sales for the latest quarter that exceeded expectations despite a difficult comparison with last year’s stockpiling. The maker of Gillette razors and Downy fabric softener, which announced a leadership transition, said that organic sales, which strip out the impact of items like acquisitions and currency swings, grew 4% in ...