Retail

Bloomberg Party City Holdco Inc, the retailer that has been trying to reduce its $2 billion debt load as social distancing scraps celebrations, will try to convince creditors to sign a deal that would trim its borrowings and inject fresh cash into the company. The company reached an agreement with holders of more than 52% of its bonds that would …

Bloomberg Across the US, sales are cratering, bankruptcies are on the rise, and unemployment has hit unprecedented levels. With consumers glued to the couch watching Netflix or commiserating over Zoom, retailers have been especially hard hit. Yet even as the coronavirus pandemic wreaks havoc on American malls and main streets, a billionaire from Prague sees something in the wreckage: bargains. …

Bloomberg Amazon.com is scaling back deliveries and adjusting routes in a small number of cities including Chicago, Los Angeles and Portland after the death of George Floyd in Minneapolis sparked demonstrations around the country, prompting curfew orders. “We are monitoring the situation closely and in a handful of cities we adjusted routes or scaled back typical operations to ensure the …

Bloomberg Walmart Inc is jumping into the fast-growing resale clothing market to give its apparel offering a shot in the arm and diversify its e-commerce business beyond groceries and consumer staples. The world’s largest retailer is partnering with ThredUp, an online secondhand apparel company, to sell used women’s and children’s clothing on its website. Accessories and handbags, as well as …

Bloomberg Ralph Lauren Corp has reopened a significant portion of its global store network and will accelerate its digital plans as pandemic restrictions ease around the world. Chief Executive Officer Patrice Louvet said all stores in China and Korea are back in business, and Japan and Australia are set to return this week. Two-thirds of Ralph Lauren stores have been …

Bloomberg Wumei Holdings Inc, the Chinese retail group that owns one of the country’s biggest supermarket chains, is considering an initial public offering in Hong Kong, people with knowledge about the matter said. The Beijing-based company has held preliminary talks with potential advisers about a listing, according to the people, who asked not to be identified because the information is …

Bloomberg Meituan Dianping reported a smaller slide in revenue than analysts projected after the Chinese internet services giant proved resilient to virus-induced lockdowns. Sales fell 12.6% to 16.8 billion yuan ($2.4 billion) in the three months ended March, compared with the 15.6 billion yuan average of analysts’ estimates. It reported net loss of 1.58 billion yuan, while analysts projected a …

Bloomberg Alibaba Group Holding Ltd expects revenue growth to slow this year, reflecting post-Covid 19 economic uncertainty at home as well as the potential for US-Chinese tensions to disrupt its business. The e-commerce giant forecast sales growth this year of at least 27.5% to more than 650 billion yuan ($91 billion), down from 35% previously and slightly below analysts’ estimates. …

Bloomberg Walmart Inc plans to expand its members-only warehouse chain, Sam’s Club, in China to 100 stores in the next eight years as it embarks on an ambitious growth plan after the coronavirus pandemic. The local unit of the Bentonville, Arkansas-based company told employees about the goal in a townhall meeting, according to people familiar with the matter, who asked …

Bloomberg Marks & Spencer Group Plc said it’s outperforming its worst-case coronavirus scenario in a positive sign for a UK retailer that’s going through the latest of a series of turnaround programmes. When the outbreak spread to the UK, M&S said it anticipated that clothing and home sales would fall by 70% in the four months through July, with its …