Retail

Bloomberg Under Armour Inc’s sales beat expectations in the fourth quarter as the athletic-apparel maker benefited from e-commerce demand and made progress on its restructuring program, sending the shares higher. Revenue in the period ended on December 31 fell 3% to $1.4 billion, topping the $1.26 billion average of analyst estimates compiled by Bloomberg. E-commerce sales jumped 25%. Under Armour …

Bloomberg Amazon.com Inc has hired several employees of a Covid-19 testing startup as part of efforts to curb outbreaks among its workers. Caspr Biotech’s cofounders, Chief Executive Officer Franco Goytia and Chief Strategy Officer Carla Gimenez, joined Amazon in December, according to a person familiar with the situation. The pair, along with several other startup employees, are working on a …

Bloomberg Jollibee Foods Corp will boost capital spending by a fifth to open 450 new stores mostly overseas, as the Philippines’ largest restaurant operator foresees a return to profit this year following its first annual loss in nearly three decades. The company will spend 12.2 billion pesos ($255 million) this year, up 22% from the 10 billion pesos in 2020. …

Bloomberg The tussle between two of the world’s richest men — Jeff Bezos and Mukesh Ambani — to dominate India’s estimated $1 trillion retail market is testing foreign investor patience with flip-flopping court rulings. There have been new developments in Amazon.com Inc’s legal battle to block Ambani’s Reliance Industries Ltd from acquiring Future Retail Ltd’s assets, in what would be …

Bloomberg England’s third lockdown hit non-essential retailers harder than the previous one in November, with the new variant of the coronavirus hampering spending and confidence last month, according to the British Retail Consortium. Clothing and footwear stores fared particularly badly as retailers on the whole saw the value of sales decline from a year earlier, the business lobby said. A …

Bloomberg Ocado Group Plc is counting on three new automated warehouses in the UK to improve its ability to meet demand for online grocery shopping that’s thriving during the pandemic. The company’s retail revenue jumped by 35% in 2020, as the UK delivery arm that’s jointly owned with Marks & Spencer Group Plc gained popularity among Covid-wary customers favoring e-commerce …

Bloomberg Tesco Plc is leading calls for an online sales tax to be imposed on digital retailers such as Amazon, as UK Chancellor of the Exchequer Rishi Sunak weighs up reforms to business levies ahead of next month’s budget. The bosses of supermarkets, retail property owners and other store chains are pushing for action to ease their tax burden with …

Bloomberg Boohoo Group Plc snapped up remaining brands from Philip Green’s failed Arcadia Group Ltd after the UK online retailer’s rival Asos Plc acquired the flagship Topshop and other labels. In a fresh sign of the growing dominance of online fashion retailers amid the pandemic, Boohoo agreed to buy the Dorothy Perkins, Burton and Wallis brands for just over 25 …

Bloomberg Kohl’s Corp’s sales fell in the past quarter as the pandemic continues to roil the retail world, but Chief Executive Officer Michelle Gass sees plenty of reason for optimism. The retail chain’s digital revenue remains elevated and profitability is improving, Gass said in an interview. And while the company’s preliminary fourth-quarter results showed an 11% decline in same-store sales …

Bloomberg Amazon.com Inc breached the $1 billion-a-day revenue mark in 2020, in another example of how the company’s massive growth and market dominance has made its stock a near-unanimous favorite on Wall Street. The e-commerce giant’s fourth-quarter results brought full-year revenue to $386 billion. According to an analysis of Bloomberg data, Walmart Inc is the only other US company with …