Retail

Bloomberg Authentic Brands Group LLC, the owner of brands such as Brooks Brothers, Juicy Couture and Forever 21, is exploring going public as soon as this year, according to people with knowledge of the matter. The New York-based company has held discussions with potential advisers about an initial public offering, the people said, asking not to be identified because the …

Bloomberg Amazon.com Inc was expected to announce an acquisition of the Metro-Goldwyn-Mayer (MGM) movie studio on Tuesday, according to a person familiar with the matter, marking the e-commerce giant’s biggest push yet into Hollywood. Amazon is in talks to pay almost $9 billion for the business, said the person, who asked not to be identified because the deliberations are private. …

Bloomberg It began with a group of scientists and a wild idea: That the byproduct remaining after making oat bran could be turned into non-dairy milk. That idea became the foundation of Oatly Group AB, the Swedish oat milk company that debuted in New York after raising $1.4 billion in an IPO. The share sale cements the fortunes of one …

Bloomberg Auchan Retail is considering selling its stake in a group of RT-Mart-branded stores in Taiwan and is seeking $300 million to $400 million, people familiar with the matter said. The French supermarket chain is working with an adviser to find a buyer for its 65% stake in the retail locations, the people said, asking not to be identified as …

Bloomberg McDonald’s Corp is planning for fully reopened dining rooms in the US this summer, though it’s running into opposition from some franchisees who say they don’t have enough staff or interested diners to make it worthwhile. The company said that while it isn’t setting a hard deadline for franchises, it’s aiming for a rolling re-opening between now and the …

Bloomberg Under Armour Inc is boosting hourly wages to better attract and keep the employees it needs to expand its online business. The sportswear retailer said it’s raising the minimum wage for all US employees to $15 an hour starting from June 6 — an increase of as much as 50% for some staff. Canadian workers will also get a …

Bloomberg Singapore closed two shopping malls on the western part of the island for two weeks after 10 recent Covid-19 infections were linked to the properties. “Our epidemiological investigations have found that there is likely ongoing transmission among individuals who visited these malls,” the Health Ministry said in a statement. “To break any potential chain of transmission and enable deep …

Bloomberg Genesco Inc appointed three new directors as the shoe company tries to fend off an activist investor seeking to take control of the board. The owner of footwear retailers such as Journeys and Johnston & Murphy said it appointed former Deckers Brands Chief Executive Officer Angel Martinez, Valvoline Inc executive Mary Meixelsperger and Greg Sandfort, the former CEO of …

Bloomberg The franchise operator of Zara and two other popular apparel chains will close all of its stores in Venezuela in the next few weeks. Zara, along with Pull&Bear and Bershka, are owned by Spain’s Inditex SA and have been operating as franchises in Venezuela since 2007. The franchise is managed by Panamanian-based company Phoenix World Trade, run by Camilo …

Bloomberg Instacart Inc is expanding its delivery partnership with 7-Eleven Inc in a bid to capture share of a fast-growing convenience store market dominated by DoorDash. The San Francisco-based company is adding 4,000 7-Eleven locations, bringing the total to 6,000 stores in 33 states and Washington, and pledges to get deliveries to customers in as little as 30 minutes. Instacart …