Retail

Bloomberg Steinhoff International Holdings NV’s European retail unit, which runs the Pepco and Poundland discount chains, is attracting interest from buyout firms, people with knowledge of the matter said. Advent International and Partners Group Holding AG are among private equity firms considering bids for Pepco Group, said the people, who asked not to be identified because the information is private. …

Bloomberg Walmart Inc is testing out a higher minimum starting wage for certain jobs in hundreds of stores as part of a broader overhaul of roles and responsibilities across its massive US workforce. In the 500 or so stores that have introduced the retailer’s new operating model, dubbed “Great Workplace,” some associates in the fresh, front-end and replenishment areas will …

Bloomberg Fairway Group Holdings Corp has gone bankrupt for the second time since 2016, overwhelmed by its lingering debt load and cutthroat price competition in the grocery business. The New York grocer filed for Chapter 11 bankruptcy with an agreement to sell five stores and a distribution facility to Village Super Market Inc, owner of 30 ShopRite supermarkets. The deal, …

Bloomberg Wm Morrison Supermarkets Plc is cutting thousands of managerial roles from its grocery stores across the UK in favour of increased shop-floor staff. The British grocer is changing the way stores are staffed in a bid to serve customers better as competition intensifies in the supermarket industry, Morrison said. The changes will result in the removal of about 3,000 …

Bloomberg Asos Plc bounced back from a poor Christmas a year earlier with strong growth over the holidays driven by Black Friday sales. The UK online fashion retailer said its group retail sales grew 20% on a constant-currency basis in the last four months of 2019, better than analysts expected. The shares rose as much as 12%. The better showing …

Bloomberg Burberry Group Plc became the latest victim of the Hong Kong protests as sales in that market dropped by half over the Christmas quarter, while the spread of a new viral disease in Asia risks dimming the outlook further. The stock fell as much as 4.1% even after the company raised its forecast for full-year sales growth to a …

Bloomberg News that J Sainsbury Plc Chief Executive Officer Mike Coupe is leaving in May marks the end of an unrewarding chapter for the UK grocer’s shareholders. Competition from German discounters Aldi and Lidl and a shift to online shopping have put British supermarkets including Tesco Plc and Wm Morrison Supermarkets Plc under pressure, but Sainsbury shares have suffered the …

Bloomberg Walmart Inc’s new US chief wasted no time putting his stamp on the unit, appointing his former top lieutenant as second in command and parting ways with the retailer’s head of merchandising. Dacona Smith, a company veteran who most recently served as chief operating officer for Walmart’s Sam’s Club, will become COO under John Furner, according to a memo. …

Bloomberg A Netflix-branded product strikes again. Ice cream maker Ben & Jerry’s is the latest brand to cash in on the streaming service’s wide appeal and status as a cultural touchstone. “You’ll never want to watch Netflix without it,” Ben & Jerry’s says about the new flavour called Netflix & Chilll’d — yes, with an extra “L” — featuring peanut …

Bloomberg Richemont shares rallied the most in three years as strong appetite for Cartier jewellery and IWC watches during the holiday season signalled consumers still want to splurge on luxurious bling. The improvement comes as a relief to investors after a first half that was marred by protests and store closures in Hong Kong and contracting profitability in the jewellery …