Retail

Bloomberg Facebook Inc and Gucci filed their first joint lawsuit against an alleged online counterfeiter as the web giant and luxury brand move to crack down on the fraudulent practice. Facebook and Kering SA’s Italian fashion brand filed the suit against an individual for breach-of-contract, claiming violations of the social media platform’s terms and the infringement of Gucci’s intellectual property ...

Bloomberg Pick n Pay Stores Ltd’s next chief executive officer, Pieter Boone, plans to accelerate his predecessor’s eight-year turnaround of the South African grocer by focusing on stores that cater for lower-to-middle income consumers and by boosting online sales. “Pieter speaks of evolution and acceleration, rather than revolution,” David North, Pick n Pay’s executive for strategy, said in an interview. ...

Bloomberg L Brands Inc’s Victoria’s Secret has restarted talks with buyers about a potential sale, and is seeking more than double the $1.1 billion value it had last year in a failed deal, according to people familiar with the matter. After strong recent sales, the company could now target a valuation of at least $2 billion to $3 billion in ...

Bloomberg LVMH, Richemont’s Cartier and Prada SpA are joining forces to offer a blockchain solution to their customers seeking an extra seal of authenticity for the goods they’re buying. The alliance of the world’s largest luxury-goods makers plans to make a blockchain-enabled solution available to all luxury brands to provide shoppers with assurance what they’re buying is authentic, the companies ...

Bloomberg Prescription eyewear seller Warby Parker Retail Inc is considering an initial public offering as soon as this year, according to people familiar with the matter. The New York-based company is in discussions with advisers on a potential listing, the people said, asking not to be identified as the information is private. Warby Parker raised $120 million in its most ...

Bloomberg Gucci’s sales rebounded in the first quarter, signalling a recovery for the luxury brand after the appeal of its flamboyant fashions waned last year. Comparable sales, a key measure of retail performance, jumped 25% at the Italian fashion house to 2.17 billion euros ($2.61 billion), owner Kering SA said in a statement. Analysts had expected a 19% gain. Gucci ...

Bloomberg Indian supermarket-operator Future Retail Ltd approved a debt resolution plan that eases some immediate concerns as a legal battle with partner Amazon.com Inc threatens to delay an asset sale to Reliance Industries Ltd. Future Retail’s board agreed to a proposition to restructure its secured bank debt and three rupee-denominated bonds, according to an exchange filing. The plan, which was ...

Bloomberg Walmart Inc’s new subscription program wants to entice customers with benefits like cheap gas and no checkout lines. But it turns out many members aren’t using them much. About three out of four users don’t take advantage of perks such as less-expensive fuel and Scan & Go technology that allows store shoppers to pay for items on their phone, ...

Bloomberg Amazon.com boosted its role as the world’s biggest corporate buyer of green power with a series of deals to help slash the company’s carbon footprint. Agreements to buy renewable energy are an increasingly popular way for big companies to cut emissions. Amazon will use the power from wind farms, solar parks and batteries to run its global operations. “Many ...

Bloomberg Bed Bath & Beyond Inc’s shares plunged after higher shipping and e-commerce costs eroded profitability in the fourth quarter, tarnishing the results as the home-furnishings retailer reported a stronger-than-expected same-store sales gain. The increase in online sales and freight expenses led to higher costs for the company, contributing to a gross margin of 31.5%, which was below the estimate ...