Retail

Bloomberg Magnit PJSC, Russia’s largest grocery chain, plans to acquire Dixy Holding Ltd convenience-store network in a 92.4 billion ruble ($1.25 billion) deal, a move that will boost its presence in Moscow and St Petersburg. The price may be adjusted on net debt and net working capital changes as of the closing date, according to a statement. Pending regulatory approval, ...

Bloomberg Burberry Group Plc’s sales remained below 2019 levels despite a quarterly jump, showing the British brand is trailing some luxury peers in recovering from the pandemic. The shares fell as much as 10%. Comparable store sales in the three months through March soared 32%, the company said in a statement. That was in line with its own forecast. Revenue ...

Bloomberg Amazon.com Inc will hire 10,000 more people in the UK, taking its total headcount in the country to 55,000 by the end of 2021 and making the ecommerce giant one of few big employers adding jobs during the pandemic. It comes a day after the world’s largest online retailer said it’s hiring 75,000 workers for its sprawling North American ...

Bloomberg Walmart Inc said fully vaccinated staff and customers can now leave their masks at home, a decision that could influence how other businesses respond to the latest government guidance. The nation’s biggest private employer said fully vaccinated staff need not wear a mask at work starting from May 18, the same day the retailer reports first-quarter results. The rule ...

Bloomberg Cereal giant General Mills Inc continued its push into what it calls the “humanisation of pets” with a $1.2 billion deal to buy a division from Tyson Foods Inc that sells treats under brands like Nudges and Top Chews. The division, started in 2011, tallied more than $240 million in revenue over the past 12 months through April 3, ...

Bloomberg Parka maker Canada Goose Holdings Inc struck an upbeat tone for the coming year, with plans to add 10 stores, launch a footwear line and spend more on marketing, all while forecasting record revenue. With no tourism recovery in sight and spending plans putting pressure on margins, investors flinched. The Toronto-based company reported fourth-quarter earnings that beat analysts’ forecasts, ...

Bloomberg JCPenney landed in bankruptcy court after foundering during the pandemic, but the reorganised retailer now sports a relatively big liquidity cushion and its sales are growing. The company has more than $1.2 billion of cash and credit availability, interim CEO Stanley Shashoua said. And the 119-year-old company, whose financials are no longer public, has improved sales since it left ...

Bloomberg Philippine food maker Monde Nissin Corp is in talks with Singapore state investment fund GIC Pte and Hong Kong insurer AIA Group Ltd to become cornerstone investors in what could be the country’s biggest-ever initial public offering, according to people familiar with the matter. Fidelity International and Capital Group Cos are also in discussions to buy stock in the ...

Bloomberg The parent of the Office Depot retail chain plans to split into two publicly traded companies, reshaping the company as rival Staples pursues an acquisition. ODP Corp said it would retain its retail consumer and small-business products and services, while separating its Business Solutions Division contract unit and independent regional office-supply distribution operations. The transaction, expected to be completed ...

Bloomberg Nestle SA is introducing a plant-based milk brand to compete with Danone’s Alpro and Oatly AB in the growing market for dairy substitutes. The pea-based milk alternative, called Wunda, will be available in France, the Netherlands and Portugal in the coming weeks, the Swiss maker of Nespresso coffee and Purina pet food said in a statement on Wednesday. A ...