Retail

Bloomberg The recovery in Canadian retail sales is fizzling Sales eked out a gain of 0.4% in August, Statistics Canada said in Ottawa. That fell short of the 1.1% median forecast in a Bloomberg survey of economists. Excluding vehicles, receipts rose 0.5%, versus a forecast gain of 0.9%. After cratering in April on mandatory lockdowns, retail sales increased for four ...

Bloomberg Hindustan Unilever Ltd, Asia’s biggest maker of personal care products by market value, reported a 16% gain in revenue, signaling that demand in India may be reviving after an unprecedented economic contraction in the June quarter. Revenue at the local unit of Unilever Plc rose to 112.8 billion rupees ($1.5 billion), the biggest jump since December 2011. Net income ...

Bloomberg Bulgari is increasing its focus on sales to locals in the countries where it operates, particularly in China, as the pandemic wipes out the tourist market, Chief Executive Officer Jean-Christophe Babin said. The LVMH-owned jeweller is seeing single-digit domestic sales growth in the western world and high double-digit growth in Asian countries, Babin said in an interview in Rome, ...

Bloomberg Lowe’s Cos isn’t known as much of a Christmas destination, but the retailer wants to change that by adding more playthings and gifts. The Mooresville, North Carolina-based chain will sell items like electric scooters, trampolines, backyard movie screens and Ninja air fryers. The majority of these new products will be available online and in select stores. Sales at Lowe’s ...

Bloomberg Southeastern Grocers Inc, the owner of the Winn-Dixie and Fresco supermarket chains that emerged from bankruptcy two years ago, has filed for an initial public offering. The Jacksonville, Florida-based grocer in its filing with the US Securities and Exchange Commission listed an offer size of $100 million, a placeholder that will likely change. Existing investors will be selling some ...

Bloomberg Asia’s largest retailer Fast Retailing Co sees profits growing slightly beyond analysts’ expectations this fiscal year, driven by a robust recovery from the Covid-19 pandemic in the Uniqlo owner’s key China and Japan markets. Operating profit will probably be 245 billion yen ($2.3 billion) for the year through August 2021, the Japanese company said in a statement. That compares ...

Bloomberg A plan to sell bankrupt JC Penney Co’s retail operations to its two biggest landlords stalled, raising the prospect that creditors will carry the burden of millions of dollars in extra costs as the retailer prepares for the crucial holiday season. Talks between JC Penney’s lenders and the would-be buyers, mall owners Simon Property Group and Brookfield Property Partners, ...

Bloomberg Black Friday is known for massive crowds of shoppers elbowing one another aside to get a good deal. At Walmart Inc, that won’t be the case this year. The world’s biggest retailer will limit the number of customers inside its stores to just 20% of usual capacity as the threat of the coronavirus looms over this holiday shopping season. ...

Bloomberg Investors pushed the value of Instacart Inc to $17.7 billion in a new private funding round, more than doubling the valuation of the grocery-delivery startup since the start of the coronavirus pandemic. Valiant Peregrine Fund and Daniel Sundheim’s D1 Capital Partners, two existing investors in Instacart, led the round, the grocery startup said. Instacart plans to use the $200 ...

Bloomberg Amazon.com’s two-day Prime Day sale kicked off on Tuesday, which is expected to give the world’s largest e-commerce company an early advantage over brick-and-mortar rivals still contending with pandemic-spooked consumers wary of battling Black Friday crowds. With Prime Day delayed to October from July this year, Amazon single-handedly could yank the pivotal holiday season forward — a long-predicted “Christmas ...