Retail

Bloomberg Kohl’s Corp is under pressure from a group of activists who want to name nine directors to control its board and press the retailer to reduce inventory and streamline promotions, according to a person familiar with the situation. The group holds a stake of about 9.5% in Menomonee Falls, Wisconsin-based Kohl’s, said the person, who asked not to be …

Bloomberg Asian buyout firm Navis Capital Partners is exploring a sale of premium supermarket chains in Malaysia, which could be worth about 1 billion ringgit ($248 million) according to people with knowledge of the matter. The firm is asking banks to submit proposals on the potential divestment of The Food Purveyor Sdn, the vehicle that owns the Village Grocer and …

Bloomberg Best Buy Co reported weaker-than-expected holiday sales and said anticipated shifts in consumer spending back to areas like dining out and travel could hamper its performance this year. Comparable-store sales in the US — a key gauge of performance — rose 12.4% in the fiscal fourth quarter that ended on January 30, missing the average projection from Consensus Metrix. …

Bloomberg Nestle SA, the world’s largest food company, reported its fastest sales growth in five years as stuck-at-home consumers adopted more cats and dogs, boosting demand for pet food. Revenue growth may cross the threshold of 4% and should at least match last year’s 3.6% pace, on an adjusted basis, CEO Mark Schneider said. Analysts have forecast 3.9% growth. Nestle’s …

Bloomberg Hermes International sales jumped as the Birkin bag maker continued to benefit from its established appeal as a premium luxury brand. Sales rose 16% in the fourth quarter at constant exchange rates, almost twice as much as analysts expected. The leather goods unit was the main driver behind the performance. The shares rose as much as 8.9% to a …

Bloomberg Macy’s Inc is sounding out investors on a potential debt sale that would further aid the retailer through the pandemic, as a string of troubled companies look to capitalise on record-low borrowing costs. The department store chain is considering issuing new debt to bolster its liquidity, according to people with knowledge of the situation. Talks are in the early …

Bloomberg Australian household spending rose at a slower-than-expected pace in January as a short, sharp Covid-19 lockdown in the northeastern state of Queensland dragged on stronger performances in other parts of the country. Preliminary retail sales advanced 0.6% from December, but came in below economists’ median estimate of a 2% gain, the Australian Bureau of Statistics said in a report …

Bloomberg Amazon.com Inc has failed to comply with workplace safety rules during the pandemic and retaliated against warehouse workers who raised concerns, New York alleged in a lawsuit against the retail giant. “Amazon’s flagrant disregard for health and safety requirements has threatened serious illness and grave harm to the thousands of workers in these facilities and poses a continued substantial …

Bloomberg Gucci sales fell for a fourth quarter, ending years of expansion as the luxury brand and growth motor of Kering struggled amid renewed lockdowns in Europe. Revenue at the Italian luxury brand dropped 10% on a comparable basis to 2.28 billion euros ($2.76 billion) in the three months through December, Kering said on Wednesday. Analysts had expected a 7.2% …

Bloomberg EBay Inc’s sale of its online classifieds business to Adevinta ASA has hit a hurdle, as UK regulators voice concerns over the potential threat to competition that the tie-up poses. The UK Competition and Markets Authority (CMA) told the companies to propose remedies that address antitrust concerns for the deal, which was valued at $9.2 billion when it was …