Retail

Bloomberg The owner of former Sears stores is looking to sell as many as 50 properties as it tries to generate cash and focus on the development of other sites it owns. Seritage Growth Properties, a real estate investment trust that emerged from the Sears bankruptcy, wants to unload 40 to 50 sites that “were less interesting in terms of ...

Bloomberg 7-Eleven Inc was ordered by US antitrust regulators to sell 293 gas-station retail stores acquired as part of its $21 billion purchase of Marathon Petroleum’s Speedway business. The order disclosed by the US Federal Trade Commission resolves lingering concerns over the transaction. In May, FTC Acting Chairwoman Rebecca Kelly Slaughter and her fellow Democratic commissioner said the agency would ...

Bloomberg Nike Inc soared to an all-time high in the latest sign that consumers are opening their wallets more than expected as the pandemic eases in much of the world. The shares rose almost 16% to a record $154.35 after the company projected that revenue this fiscal year will surpass $50 billion for the first time, benefiting from rebounding growth ...

Bloomberg The deals during Amazon.com Inc’s annual Prime Day sale will be stingier this year, according to merchants, thanks to rising shipping costs, higher advertising rates and scarce inventory. The two-day event arrives as the world grapples with the lingering effects of the pandemic. Supply-chain disruptions — including the Suez Canal shutdown earlier this year and a spike in Covid ...

Bloomberg The owner of Saks Fifth Avenue plans to separate the e-commerce business of its discount chain into a standalone company, the latest move to break up the operations of a brand synonymous with luxury apparel. A split of Saks Off 5th will allow the new company to better tailor its investments for the online business, said Paige Thomas, who ...

Bloomberg Retail property in the UK “is turning the corner” following years of decline for the sector, according to analysts at JPMorgan Chase & Co. A series of “encouraging trends” are emerging in terms of the number of people who are planning to visit malls and retail parks after the pandemic and in consumer behaviour on e-commerce and mall apps, ...

Bloomberg Wm Morrison Supermarkets Plc surged above the value of Clayton Dubilier & Rice LLC’s 5.5 billion-pound ($7.6 billion) bid, indicating the private equity firm may have to pay significantly more or fend off rival offers for Britain’s fourth-largest grocer. The supermarket operator, which employs close to 110,000 people in Britain, has already rejected the 230 pence-a-share proposal that was ...

Bloomberg The CEO of Tag Heuer — the maker of luxury watches beloved by athletes — expects sales to recover to 2019 levels this year after last year’s pandemic shock. The forecast of the brand owned by luxury group LVMH comes as the industry became more polarised amid lockdowns last year. The largest privately-owned timepiece brands such as Rolex outperformed, ...

Bloomberg Wm Morrison Supermarkets Plc rejected as undervalued an unsolicited proposal from US buyout firm Clayton Dubilier & Rice LLC that valued the UK grocery chain at about 5.5 billion pounds ($7.6 billion). Morrison received a proposed cash offer at 230 pence a share on June 14 and rejected it three days later after discussions with its adviser Rothschild & ...

Bloomberg Ocado Group Plc lost the latest court clash with rival AutoStore Technology AG after a London judge refused to grant an injunction that would stop the use of certain information in a separate US patent infringement case. In an increasingly bitter dispute between the two companies that both provide automated grocery delivery systems, online grocer Ocado sought to restrain ...