Retail

Bloomberg When their doors finally open after mandatory shutdowns, American malls could face another hurdle: consumer fears. Only one-third of American adults surveyed said that they will feel safe shopping in a mall after stores reopen, according to a new study by retail predictive analytics company First Insight Inc. More respondents said they’ll feel safe shopping in grocery, drug and …

Bloomberg E-commerce companies have emerged as a favourite play on Wall Street during the coronavirus pandemic, amid a growing consensus that upcoming results will reveal a potentially permanent shift in consumer behaviour towards online shopping. While online sales have long been growing their market share as a percentage of overall retail spending, the trend has been accelerated as shutdowns force …

Bloomberg A Walmart Inc store near Denver has been shuttered by local authorities after three people with ties to the location died from coronavirus. The closing came after a series of complaints from employees and shoppers about a lack of social distancing, according to the Tri-County Health Department. This included workers not wearing face masks and too many people in …

Bloomberg The retail shutdowns sweeping the country amid the coronavirus outbreak have put L Brands Inc in a tough spot. With a deal to sell its iconic Victoria’s Secret brand now in jeopardy, things just got a lot worse. The future of the ailing inner wear business is in limbo after Sycamore Partners said it wants out of the deal …

Bloomberg The coronavirus outbreak has stalled American retailers’ e-commerce growth, sparked traffic declines and pushed many to lower quarterly guidance, according to a survey published on Wednesday by CommerceNext, which organises conferences for retail and direct-to-consumer marketers. Since mid-February, when coronavirus began impacting the US, about half of retailers said their e-commerce traffic has been trending downward. This is a …

Bloomberg Australian retail sales soared by the most on record in March as households embarked on a buying frenzy, led by massive purchases of toilet paper, ahead of an expected lockdown to contain the coronavirus. Preliminary sales advanced 8.2% last month, exceeding the previous record of 8.1% ahead of the introduction of a consumption tax in 2000, the Australian Bureau …

Bloomberg Gap Inc is in discussions to issue new bonds backed by assets including real estate as one financing option to get it through the coronavirus pandemic, according to people with knowledge of the situation. The talks with investors and banks would be for bonds backed by inventory and certain properties including distribution centres, the people said, asking not to …

Bloomberg Zilingo, a fashion technology platform backed by Temasek Holdings Pte, has cut 5% of its 900-strong global workforce as part of a strategy to refocus on Asia and emerging markets, according to a person familiar with the matter. The Singapore-based startup dismissed 44 employees, including about 30 in the city-state, according to the person, who asked not to be …

Bloomberg Macy’s Inc is exploring ways to use its real estate to secure fresh cash and ride out the coronavirus pandemic. The department store would issue new bonds backed by certain property and other assets to bolster its liquidity, according to people with knowledge of the situation. The Herald Square property wouldn’t be included. The interest rate and maturity of …

Bloomberg Shanghai Pehchaolin Daily Chemical Co, a Chinese skincare company that owns the 89-year-old premium beauty brand Pechoin, is in talks with potential investors for a minority stake sale, according to people familiar with the situation. Shanghai Pehchaolin has received interest from prospective investors including some private equity firms, said the people, who asked not to be identified as the …