Retail

Bloomberg Food-delivery startup Deliveroo Holdings Plc is likely to price shares in its initial public offering at 390 pence each, the bottom of the range at which they were marketed, as reluctant investors and nervous markets weigh on London’s biggest listing this year. The sale will raise 1.5 billion pounds ($2.1 billion) at that price, assuming the company and its …

Bloomberg Hugo Boss AG came under fire from Chinese celebrities over its stance on human rights in China, ensnaring the company in a growing boycott of western firms who won’t use cotton produced in the region of Xinjiang over concerns it’s made with forced labour by Muslim-minority Uyghurs. Li Yifeng, an actor and singer who has more than 60 million …

Bloomberg Some 18 months after its chicken sandwich went viral, fast-food chain Popeyes is on a mission to take over the world. It may not work, of course. Its parent, Restaurant Brands International Inc., has a spotty overseas record, at best. But the ambition alone underscores just how startling a transformation the once-sleepy brand has undergone since the summer of …

Bloomberg Carrefour SA is buying Walmart Inc.’s former Brazil unit to cement its position as the country’s largest supermarket operator two months after being the target of a failed takeover bid. Advent International and Walmart agreed to sell Grupo BIG Brasil SA for about $1.3 billion, Carrefour said. Brazil is already the French retailer’s second-largest market, and the deal would …

Bloomberg UK retail sales posted a modest rebound in February after a brutal start to the year, when a lockdown to contain coronavirus forced non-essential stores to close. The volume of goods sold in shops and online rise 2.1% from January, the Office for National Statistics said, in line with economists’ expectations. Sales excluding auto fuel climbed 2.4%. The pickup …

Bloomberg Hennes & Mauritz AB (H&M) stores in some parts of China are being closed by their landlords as fallout from the fashion retailer’s statement about forced labour in the contentious region of Xinjiang continues to spread. At least six stores in the lower-tiered cities of Urumqi, Yinchuan, Changchun and Lianyunang have been shut down by the owners of the …

Bloomberg ThredUp Inc., the online marketplace for secondhand clothing, climbed 43% in its trading debut after a $168 million initial public offering (IPO). ThredUp, whose shares sold for $14 in the IPO, opened at $18.25 and closed at $20, giving the company a market value of $1.8 billion. While US -based ThredUp is a favourite of sustainability-minded younger shoppers, its focus …

Bloomberg The UK’s biggest retailers face a potential 8 billion-pound ($11 billion) legal fight after Asda Group Ltd. lost a top court ruling in an ongoing equal pay dispute. The UK Supreme Court ruled that the salaries earned by women who work in grocery stores could be compared to men who predominantly work in warehouses. The case will return to …

Bloomberg Food-delivery startup Deliveroo Holdings Plc started taking investor orders in a share sale of as much as 1.77 billion pounds ($2.45 billion), marking the largest initial public offering (IPO) in the UK since September. Deliveroo is selling shares at 3.90 pounds to 4.60 pounds apiece, according to a statement, valuing the company at 7.6 billion pounds to 8.8 billion …

Bloomberg An Indian court has halted implementation of a ruling that froze assets of Future Retail Ltd. and its founders on a petition by Amazon.com Inc. The American giant wants to block the sale of the retailer to Mukesh Ambani’s Reliance Industries Ltd. The Delhi High Court stayed the March 18 verdict that had ordered Future Retail to ask regulators …