Retail

Bloomberg Target Corp is boosting hourly wages, expanding its paid-leave policy and delivering bonuses to thousands of store employees, the latest move by a major retailer to reward rank-and-file staff for coping with the coronavirus. The cheap-chic retailer said it’s raising hourly pay by $2 until at least May 2, and offering paid sick leave of up to 30 days …

Bloomberg A trade group representing shopping-centre owners is urging the Trump administration to provide relief to retailers, restaurants and landlords as the coronavirus pandemic shuts down commerce around the US. The government should guarantee or pay for business-interruption coverage, the International Council of Shopping Centers said in a letter to President Donald Trump. Store closures “are placing an insurmountable strain …

Bloomberg Amazon.com Inc suffered a technical glitch affecting online grocery orders through its Whole Foods and Amazon Fresh delivery services, which have become lifelines for household essentials for people looking to avoid stores due to the coronavirus outbreak. “As Covid-19 has spread, we’ve seen a significant increase in people shopping online for groceries,” an Amazon spokeswoman said in a statement. …

Bloomberg Hennes & Mauritz (H&M) and Primark are bracing for an unprecedented slump in European sales as the epicenter of the coronavirus outbreak shifts from China. Primark has closed shops that generate 30% of its total revenue as governments ordered shutdowns. H&M is shutting stores in 13 European countries, including Italy, which has more than 24,000 cases of Covid-19. The …

Bloomberg British food retailers have written a joint letter to their customers asking them to “buy responsibly” in the wake of shoppers stockpiling over fears about the new coronavirus. In an extraordinary development, 12 of Britain’s biggest grocers will publish advertisements in national newspapers on Sunday and Monday. Entitled “Working to Feed the Nation,” the letter reassures shoppers about steps …

Bloomberg Walmart Inc, the biggest US retailer, was expected to cut its store operating hours starting from Sunday to give its workers time to restock shelves as the coronavirus outbreak intensifies. The pandemic is prompting Americans to buy more groceries and other daily necessities including cleaning products, often emptying shelves in anticipation of an extended period of so-called social distancing …

Bloomberg UK mall landlord Intu Properties Plc may struggle to continue operating due to high debts and plunging asset values, its auditors warned. Intu shares declined as much as 16% last week, bringing their loss for the year to 83%. Its unsecured bonds due in 2022 fell 7 pence on the pound to 30 pence, the lowest level on record, …

Bloomberg Ever since mid-January, Adnan Durrani, chief executive officer of frozen-food company Saffron Road, knew the coronavirus outbreak was poised to create a spike in demand. For the past six weeks, his factories have been running at full capacity in order to keep items like frozen chicken pad thai and sesame ginger udon bowls on the shelves at Kroger, Walmart …

Bloomberg American Dream — the New Jersey mega-mall that was slated to open its stores and a huge water park on Thursday — will postpone its grand opening, another setback for the $5 billion project. Some entertainment elements at the mall, such as the indoor ski slope and ice rink, that had opened late last year will close starting from …

Bloomberg Salvatore Ferragamo SpA is delaying or cancelling capital investments not considered “fundamental” as the coronavirus outbreak hammers demand, though the company sees green shoots of recovery in China, the biggest market for luxury goods. “Visibility on the impact of Covid-19 is still very low for both turnover and earnings,” Chief Executive Officer Micaela Le Divelec Lemmi said on a …