Retail

Bloomberg Walmart Inc has fired 56 employees in India as it restructures its business in the country but has no plans to shut down physical operations, the company said in a statement refuting a report in the local media. The world’s largest retailer “remains committed” to growing its wholesale retail business in India, Walmart India’s Chief Executive Officer Krish Iyer …

Bloomberg The search is on for a tenant at a Times Square building that is home to American Eagle Outfitters Inc’s mega-flagship store. Real estate brokers are marketing the entire four floors at 1551 Broadway, in the heart of the busy tourist district, according to people with knowledge of the matter, who asked not to be named because the plans …

Bloomberg Online mattress retailer Casper Sleep Inc filed for a US initial public offering, reporting growing revenue and losses amid heightened competition from imitators. The New York-based company in a filing with the US Securities and Exchange Commission listed the size of its planned offering as $100 million, a placeholder that will likely change. The share sale is being led …

Bloomberg UK retailers’ holiday tale of woes continued as apparel chain Superdry Plc said lower-than-expected sales for the period could wipe out its annual profit, sending its shares reeling. Another retailer, JD Sports Fashion Plc, said its full-year earnings will be in the upper range of previous guidance, but that was because of stronger performance outside the UK. The updates …

Bloomberg Fast Retailing Co lowered its full-year operating profit outlook 11% as the Uniqlo owner’s international segment — a key driver of growth — was hurt by geopolitical turmoil in South Korea and Hong Kong. Asia’s largest retailer said earnings for the year through August will be 245 billion yen ($2.24 billion), according to a statement. Fast Retailing in October …

Bloomberg PayPal Holdings Inc made a big bet in November with its $4 billion acquisition of Honey, a web browser extension that helps online shoppers find the lowest prices. Now Amazon.com Inc is warning customers not to use the tool. Shortly before Christmas, Amazon said Honey posed a security risk, which was reported by Wired. The warning perplexed some online …

Bloomberg Chinese state-owned conglomerate Citic Ltd is planning to significantly reduce its stake in McDonald’s China Co more than two years after it bought into the fast-food chain, as rising costs pinch the franchise’s profit. McDonald’s China said in a statement on Wednesday that Citic is looking for buyers for a 22% stake, which will bring its share in the …

Bloomberg Forever 21 Inc can add a lawsuit to the hurdles it’s trying to overcome as it works to woo investors in time to finance its exit from bankruptcy. An Alabama mall owner is suing Forever 21, saying it lost millions of dollars leasing space to the retailer based on misleading sales targets. Forever 21 is accused of misrepresenting sales …

Bloomberg British grocers suffered their weakest holiday sales growth in five years amid intense discounting as consumers reined in spending during the critical Christmas period. Data from the retail analysis divisions of Nielsen and Kantar show that UK supermarket sales increased only marginally. Nielsen recorded 0.5% growth for the four weeks ended on December 28, which it said was the …

Bloomberg Bed Bath & Beyond Inc, the home-goods retailer mired in a lengthy sales slump, rose after selling some real estate in a deal that generated net proceeds of more than $250 million. The properties represent about 2.1 million square feet of space, including retail stores, a distribution facility and offices, the company said. It is leasing back the space …