Bloomberg Walmart Inc plans to offer Covid-19 vaccines in at least seven additional states in the coming days, significantly expanding the availability of shots as the US grapples with a slower-than-expected rollout. The world’s largest retailer, which had already been providing inoculations to eligible people in New Mexico and Arkansas, will broaden the effort to select stores in Georgia, Indiana, ...
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UK retail sales less than expected in Dec
Bloomberg UK retail sales rose less than expected in December, adding to evidence that a succession of Covid-19 lockdowns is dragging down the economy. Sales in shops and online increased 0.3% after declining in November, the Office for National Statistics (ONS) said. That’s a percentage point less than economists had expected. From a year earlier, sales rose 2.9%. The report ...
Read More »Burberry gains on optimism scrapping discounts to pay off
Bloomberg Burberry Group Plc’s decision to eliminate discounts is showing progress as the brand aims to elevate the image of its products in the eyes of luxury consumers. Burberry shares rose as much as 5.9%, the most in two months in London trading. The brand has been phasing out markdowns, leading to an improvement in full-price sales during its fiscal ...
Read More »Office Depot open to potential Staples deal
Bloomberg The parent of Office Depot said it’s open to a potential tie-up with Staples, but only if it can avoid the regulatory pushback that derailed their last merger attempt. ODP Corp sent a letter to Sycamore Partners, the private-equity owner of Staples, rejecting Staples’ original offer and suggesting some alternative directions. ODP would be open to either a joint ...
Read More »Covid-19: Manhattan retail rents plummet
Bloomberg Manhattan’s retail pain is worsening as the pandemic drags on, with rents falling in every major shopping district. Soho was hit the hardest in the fourth quarter, with average asking rents dropping nearly 22% to $290 a square foot, according to a report by brokerage Cushman & Wakefield Plc. Rents in the area, known for its many fashion boutiques, ...
Read More »Amazon workers to hold mail union vote starting in February
Bloomberg Amazon.com Inc workers at an Alabama warehouse will vote by mail in February and March on whether to form a union, the National Labor Relations Board (NLRB) said, setting a date for a closely watched referendum on the relationship between the largest online retailer and the employees who pack and ship its products. A group of about 6,000 frontline ...
Read More »Poshmark soars in debut after IPO fetches $277m
Bloomberg Poshmark Inc, the online marketplace for second-hand goods, rose 142% in its trading debut after raising $277 million in an initial public offering priced above the marketed range. Shares closed at $101.50 in New York trading, valuing the Redwood City, California-based company at about $8.5 billion on a fully diluted basis including options and restricted stock units. The company ...
Read More »Birkenstock in talks for sale to CVC Capital
Bloomberg Birkenstock, the German company behind the iconic sandals worn by hippies and preppies alike, is in talks to be taken over by CVC Capital Partners, according to people familiar with the matter. The private equity firm is in advanced negotiations with the family owners of the nearly 250-year-old brand, according to the people, who asked not to be identified ...
Read More »Couche-Tard, Carrefour close merger talks, consider alliance
Bloomberg Canada’s Alimentation Couche-Tard Inc and France’s Carrefour SA abandoned talks on a proposed $20 billion merger following stiff opposition from the French finance minister, and will look instead at forming a looser alliance. The companies will now consider how to work together on fuel purchases, branding and distribution where their networks overlap, the companies said in a joint statement. ...
Read More »Uniqlo owner’s stock hits record as shoppers go casual in pandemic
Bloomberg Fast Retailing Co’s lineup of functional and casual attire continued to lure value-conscious shoppers whose preferences are changing in the midst of the Covid-19 pandemic, helping to push the Uniqlo operator’s first-quarter earnings close to an all-time high. Operating profit rose 23% to 113.1 billion yen ($1.1 billion) in the three months ended on November 30, according to a ...
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