Retail

Bloomberg Fix Price’s initial public offering in London and Moscow raised $1.7 billion, on track to be the biggest listing from a Russian company in more than a decade, possibly prompting more share sales from local issuers. Russia’s largest dollar-store chain priced 178 million global depositary receipts, representing one ordinary share each, at the top end of an initial $8.75 …

Bloomberg Ting Hsin International Group, the Taiwanese food company behind the Master Kong brand, is weighing a Hong Kong initial public offering (IPO) of its restaurant business in mainland China, people with knowledge of the matter said. The firm has invited banks to pitch for a role on the listing, said the people, who asked not to be identified as …

Bloomberg A senior Nike Inc executive’s abrupt departure has laid bare the sometimes-uncomfortable relationship between sneaker makers and the underground network of resellers who thrive off their brands. The sneakerhead community was buzzing over the resignation of Ann Hebert, Nike’s vice president and general manager of North America. The revelation came just days after a Bloomberg Businessweek report about her …

Bloomberg Canada Goose Holdings, the company known for its Arctic-ready luxury parkas, announced a partnership with the National Basketball Association (NBA) that will showcase its foray into warmer-climate collections. Under the multiyear agreement, Toronto-based Canada Goose will produce capsule collections timed around the NBA’s annual midseason All-Star game. The manufacturer will collaborate with different designers, starting this year with LA-based …

Bloomberg London’s main financial district expects demand for stores from workers and visitors to increase even as retailers go bust because more consumers are shopping online. The City of London’s local government expects investors to add 122,500 square metres (1.3 million square feet) of retail space in the district over the coming 15 years, according to a proposed development plan. …

Bloomberg Walmart Inc has lured a pair of senior Goldman Sachs bankers to help lead a new fintech startup as the retail giant muscles into the banking business. Omer Ismail, the head of Goldman’s consumer bank, is making a surprise exit to the fintech, according to people with knowledge of the matter. The world’s largest retailer made a splash last …

Bloomberg Robinsons Retail Holdings Inc plans to increase its e-commerce business to between 2% and 3% of total sales this year by expanding the company’s online presence through its own Internet platforms and others. The Philippine retailer’s e-commerce sales reached 1.1% of total revenue last year, up from 0.4% in 2019, as consumers migrated to online purchases because of the …

Bloomberg LVMH’s Sephora beauty chain said it will open more than 60 stand-alone US stores this year in addition to the hundreds of shops already planned at Kohl’s Corp locations, betting big on a resurgence of retail foot traffic as the pandemic wanes. The expansion will take place in the Pacific Northwest, Los Angeles and the South, with plans to …

Bloomberg Foot Locker Inc shares fell as much as 12% in premarket trading after the athletic-goods retailer missed analysts’ expectations for same-store sales and overall revenue. Comparable-store sales declined 2.7% in the fourth quarter ended on January 30, Foot Locker said, compared with analysts’ estimate of a 3.5% increase as compiled by Consensus Metrix. Revenue of $2.19 billion missed the …

Bloomberg Belk Inc, the department store chain owned by Sycamore Partners, won court approval of its plan to slash $450 million of debt less than one day after filing for Chapter 11 bankruptcy. US Bankruptcy Judge Marvin Isgur said in a hearing he would approve the retailer’s bankruptcy plan, paving the way for Belk to emerge from Chapter 11. If …