Retail

Bloomberg Steinhoff International Holdings NV former Chief Executive Officer Markus Jooste has been fined more than 162 million rand ($9.9 million) by a South African regulator for insider trading ahead of the retailer’s near collapse almost three years ago. Jooste sent a text message to four people warning them to sell their stock in the company in the days before ...

Bloomberg Look across the street from your home-office window: chances are you will see a delivery van. Trucks from Amazon.com Inc and other e-commerce companies have become ubiquitous during the pandemic. In much of the industrialised world, an ever-growing number of vans, trucks, trains and ships are hauling everything from desks to smart phones as consumers turn to online shopping ...

Bloomberg Amazon.com and Mukesh Ambani’s Reliance Industries’s fight for dominance of India’s lucrative e-commerce space is turning into a face-off, with both sides battling over the assets of a supermarket chain that could be key to their wider ambitions. Ambani and Jeff Bezos, two of the world’s wealthiest men, want the stores and warehouses of Future Retail Ltd, which has ...

Bloomberg Dunkin’ Brands Group, parent company of coffee-and-donuts chain Dunkin’ and Baskin-Robbins, said it’s in talks to be acquired by private equity-backed Inspire Brands. The New York Times reported the talks earlier, saying Inspire will take Dunkin’ private at $106.50 a share, citing two people with knowledge of the negotiations who weren’t identified. The deal — valued at $8.8 billion ...

Bloomberg A group of creditors to JC Penney is seeking to slow the sale of the bankrupt retailer’s real estate to another group of lenders, saying that it provides the buyers an undeserved windfall and reeks “of not only greed but abhorrent bad faith.” The objecting creditors, led by Aurelius Capital Management, say they submitted a $750 million competing bid ...

Bloomberg Walmart Inc’s Indian e-commerce operation Flipkart invested 15 billion rupees ($204 million) in Aditya Birla Fashion and Retail Ltd as it looks to bolster its presence in one of the world’s fastest-growing retail markets. Billionaire Kumar Mangalam Birla’s retail business will issue preference shares to Flipkart, giving it a 7.8% stake, Aditya Birla Fashion said in an exchange filing. ...

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 ...