Retail

Bloomberg That chocolate Santa will cost a bit more this Christmas. Hershey Co plans to raise prices on bags of kisses, miniature chocolate bars and other seasonal treats shaped like snowmen and Santas starting in the 2021 holiday season, Chief Executive Officer Michele Buck said in an interview. Prices for these items had not been increased since the 2014 holiday ...

Bloomberg Future Retail Ltd’s dollar bonds plunged on an Indian court temporarily restraining parent Future Group from selling its retail assets to Reliance Industries Ltd, after Future’s partner Amazon.com Inc had sought the suspension. The Delhi High Court ordered the Future Group and Indian authorities to ensure the status of the indebted Indian retailer’s assets are maintained as is, putting ...

Bloomberg Ulta Beauty Inc, US’s biggest cosmetics retailer, plans to increase spending on inclusion and antidiscrimination training programs and will boost the number of products for sale by Black-owned businesses as the industry tries to address racial inequality. Included in the commitment is $2 million for staff training this year to “ensure equality in guest experiences.” In 2019, several Ulta ...

Bloomberg Hormel Foods Corp is nearing a deal to buy the Planters snack business from Kraft Heinz Co in a deal valuing the peanut brand at about $3 billion, according to a person familiar with the matter. A deal could be reached as soon as next week, according to the person, who did not want to be identified discussing the ...

Bloomberg Kroger Co plans to close two Southern California supermarkets following passage of a local ordinance that requires grocery stores to raise their frontline workers’ hourly pay by $4. A Ralphs store and a Food 4 Less store in Long Beach, California, will close on April 17, the company said in a statement. A spokesperson declined to provide additional information ...

Bloomberg Hong Kong’s retailers didn’t see much benefit from the key holiday shopping season, with sales plunging in December after the government tightened controls to combat a surge in virus cases. Retail sales by value fell 13.2% from a year ago to HK$31.4 billion ($4.05 billion), after dropping a revised 4.1% in November, the Hong Kong Census and Statistics Department ...

Bloomberg British bootmaker Dr Martens Plc soared in London trading after owner Permira Holdings and other shareholders raised 1.3 billion pounds ($1.8 billion) in an initial public offering, cashing in on the lasting popularity of its cult footwear. The stock surged 22% to close at 450 pence after pricing its IPO at 370 pence, the top end of an initial ...

Bloomberg Toys “R” Us has once again disappeared from America’s retail landscape. The former industry titan recently closed its only two US stores, including a location in New Jersey, according to a spokeswoman. The outlets were opened in late 2019 by Tru Kids Inc, an entity that acquired the brand’s intellectual property during the retail giant’s 2018 liquidation. The new ...

Bloomberg Years from now when the pandemic’s impact on global business is analysed, it’s likely that the most lucrative change will be how it pushed—or actually shoved—massive markets into the modern e-commerce era. In many countries, online shopping hadn’t been easy because of underdeveloped infrastructure and the reluctance, or inability, of consumers to use banks and electronic payment. That stalled ...

Bloomberg Levi Strauss & Co is expanding its partnership with retailer Target Corp well beyond blue jeans. The agreement will mark Levi’s first home-goods partnership, with new products including tableware and pillows, the companies said in a statement. The tie-up will also broaden its Red Tab brand within Target stores, with in-store displays planned at more than 500 locations by ...