Retail

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 …

Bloomberg Tesco Plc has pledged to boost sales of healthier food and drink across its entire retail business in a bid to stave off further pressure from investors over concerns its products cause obesity. The company aims to include its central European operations and wholesaler Booker Group Ltd in a pledge to increase the share of healthy product sales, Tesco …

Bloomberg A Singaporean company will feed airport food waste to crickets and mealworms before turning them into fish feed, aiming to cut the country’s use of imported feed and offer a sustainable alternative. Blue Aqua International will partner dnata, an air and travel services provider, to convert organic waste from its catering and ground handling operations at Singapore’s Changi Airport …

Bloomberg The Honest Co, the personal care brand co-founded by actress Jessica Alba, raised $413 million in an initial public offering priced within a marketed range. The company and its shareholders sold about 25.8 million shares for $16 each, according to a statement confirming an earlier Bloomberg News report. The shares had been marketed for $14 to $17, with the …

Bloomberg Steinhoff International Holdings is looking to raise as much as 4.6 billion zloty ($1.2 billion) by listing its European discount retail arm Pepco Group in Poland, capitalising on increased demand for discount goods amid the coronavirus crisis. The South African retailer and other holders plan to sell 101.3 million existing shares, the company said in a statement on Wednesday. …

Bloomberg Estee Lauder Cos reported quarterly sales that came in short of analysts’ estimates despite early signs of travel bouncing back. Sales rose in every region but didn’t meet expectations, with demand for makeup still stifled as customers don’t see many occasions to wear cosmetics like lipstick. Global net sales for the fiscal third quarter ended March 31 rose 16% …

Bloomberg Pandora A/S, which makes more pieces of jewellery than any other company in the world, will stop using mined diamonds as part of a broader strategy to drop raw materials associated with unethical production methods. Despite decades of reform, the global jewellery market remains tainted by reports of human rights abuses at mines and factories. To address such concerns, …