Retail

Bloomberg Amazon.com Inc was sued by the US Consumer Product Safety Commission (CPSC ), which is seeking an order determining that the largest online retailer is legally responsible for defective products sold in its sprawling third-party marketplace. The complaint filed says Amazon sold children’s sleepwear that failed to meet federal standards for flammability; some 24,000 carbon monoxide detectors that failed ...

Bloomberg Lulus, the online retailer that focuses on female apparel, is planning an initial public offering this year, according to people with knowledge of the matter. The Chico, California-based company is working with Goldman Sachs Group Inc and Bank of America Corp on the planned listing, said the people who asked not to be identified discussing private information. The company ...

Bloomberg Hong Kong apparel giant Esquel Group said it is suing the US government for what it called the “erroneous” blacklisting of a subsidiary, saying it had been “falsely implicated” in the use of forced labor in China’s Xinjiang region. The unit, Changji Esquel Textile Co, was added to the US Commerce Department’s Entity List during former President Donald Trump’s ...

Bloomberg Jamie Salter always had big ambitions. Though he started Authentic Brands Group Inc with lesser-known consumer names, he spent much of the last decade vacuuming up ailing but widely recognised brands like Barneys New York, Sports Illustrated and Brooks Brothers. Now, he’ll do so in the public eye. Authentic filed paperwork for an initial public offering this week, and ...

Bloomberg As Warby Parker heads towards becoming a public company, the co-founders of the eyewear brand valued at $3 billion are pitching a growth strategy centered on stores. It’s quite a turn for a company that last decade ignited a boom in digital brands that convinced investors to bet billions largely on their ability to grow quickly online. But in ...

Bloomberg Clayton Dubilier & Rice (CD&R) is pushing ahead with its pursuit of British grocery chain Wm Morrison Supermarkets Plc, as it seeks to beat an agreed 6.3 billion-pound ($8.7 billion) bid from Fortress Investment Group, people with knowledge of the matter said. Morrison has granted CD&R access to confidential information as it works on an improved offer, the people ...

Bloomberg A wave of patriotic buying fuelled by the Xinjiang cotton controversy is helping shares of Chinese sportswear makers outperform global peers. Chinese consumer support in response to the alleged human-rights issues in Xinjiang region has boosted at least one local sneaker maker by some 250% since the controversy escalated in late March. A Bloomberg gauge of Hong Kong-listed apparel ...

Bloomberg Walmart Inc has hired a veteran of American Express Co to run Walmart+, the membership program it unveiled less than a year ago to counter Amazon.com Inc’s Prime plan. Chris Cracchiolo, a senior executive who spent 19 years at the credit-card company, will take over as senior vice president and general manager of Walmart+ on July 12, Chief Customer ...

Bloomberg Ocado Group Plc added Spanish grocery chain Alcampo as a new client for its robotic warehouse business, which is gaining traction abroad as grocery e-commerce booms. The new contract will add to profit in coming fiscal years as these deals require an upfront investment, Ocado said. The company also maintained its full-year earnings forecast as strong sales in its ...

Bloomberg J Sainsbury Plc raised its profit forecast, underlining the bullish trends for UK supermarkets that have focused private equity bidders’ attention on the grocer’s smaller rival, Wm Morrison Supermarkets Plc. Sainsbury expects to generate profit of 660 million pounds ($917 million) this fiscal year, up from a previous forecast of 620 million pounds and exceeding pre-Covid levels, the grocer ...