Retail

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 …

Bloomberg Nykaa E-Retail Pvt has selected banks for its initial public offering in Mumbai that could raise at least $500 million, according to people familiar with the matter. The online cosmetics retailer is working with Kotak Mahindra Capital Co and Morgan Stanley on the potential offering, said the people, who asked not to be identified as the information is private. …

Bloomberg GameStop Corp fell, wrapping up its longest losing streak in a year, amid growing skepticism over its long-term potential despite activist Ryan Cohen’s latest efforts to revitalise the company. Shares fell 11% in New York to close at $141.09, their lowest level in more than two weeks, as Reuters reported the video-game retailer is seeking a replacement for the …

Bloomberg UK sportswear chain JD Sports Fashion Plc said Brexit red tape has severely tested its operations and it’s opening new warehouses in the European Union to avoid the hassles of customs checks. The UK sportswear chain said duties and disruptions from customs checks mean it’s no longer enjoying “frictionless” trading. A new 65,000 square-foot warehouse near Dublin will become …

Bloomberg Struggling UK mall operator Hammerson Plc has agreed to sell its retail parks to Canadian private equity firm Brookfield Asset Management Inc for 350 million pounds ($480 million), the Sunday Times reported. Brookfield will acquire seven retail parks, giving a much-needed financial boost to the owner of Birmingham’s Bullring shopping centre. Hammerson, which owns once-prized shopping centres across the …

Bloomberg OTG, an operator of restaurants and concessions at US airports, is exploring options including a sale or going public through a special purpose acquisition company, according to people with knowledge of the matter. The New York-based company, which filed to go public in 2016 before delaying plans and citing market conditions, is working with an adviser to solicit interest …

Bloomberg Levi Strauss & Co shares reached their highest ever since going public after the denim maker projected a sales boost in the first half of the year. The company joins a group of retailers that expect shoppers to spend more freely as 2021 progresses. The San Francisco-based company said it sees net revenue increasing 24% to 25% in the …